US Bancorp DE cut its stake in Neogen Corporation (NASDAQ:NEOG) by 11.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,099 shares of the company’s stock after selling 4,170 shares during the period. US Bancorp DE owned approximately 0.09% of Neogen Corporation worth $2,288,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of NEOG. Victory Capital Management Inc. increased its position in shares of Neogen Corporation by 53.0% in the first quarter. Victory Capital Management Inc. now owns 2,543 shares of the company’s stock valued at $167,000 after buying an additional 881 shares in the last quarter. Raymond James Trust N.A. bought a new stake in shares of Neogen Corporation during the first quarter valued at approximately $226,000. Creative Planning boosted its stake in shares of Neogen Corporation by 1.3% in the second quarter. Creative Planning now owns 3,478 shares of the company’s stock valued at $240,000 after buying an additional 46 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Neogen Corporation by 3.4% in the first quarter. State of Alaska Department of Revenue now owns 4,210 shares of the company’s stock valued at $275,000 after buying an additional 140 shares during the last quarter. Finally, Citadel Advisors LLC bought a new stake in shares of Neogen Corporation during the first quarter valued at approximately $329,000. 85.54% of the stock is owned by institutional investors.
Shares of Neogen Corporation (NEOG) opened at 65.20 on Friday. The stock has a market cap of $2.49 billion, a PE ratio of 57.19 and a beta of 1.52. The firm has a 50-day moving average of $66.83 and a 200 day moving average of $65.01. Neogen Corporation has a 52 week low of $50.53 and a 52 week high of $69.97.
Neogen Corporation (NASDAQ:NEOG) last posted its quarterly earnings results on Tuesday, July 18th. The company reported $0.32 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.32. The firm had revenue of $98.80 million for the quarter, compared to the consensus estimate of $100.80 million. Neogen Corporation had a net margin of 12.11% and a return on equity of 9.87%. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period last year, the firm posted $0.26 earnings per share. On average, equities analysts forecast that Neogen Corporation will post $1.30 EPS for the current fiscal year.
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Several analysts have commented on NEOG shares. BidaskClub cut shares of Neogen Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Zacks Investment Research upgraded shares of Neogen Corporation from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research note on Thursday, July 20th. Finally, CL King started coverage on shares of Neogen Corporation in a research note on Friday, July 14th. They issued a “neutral” rating on the stock.
In other Neogen Corporation news, Director James P. Tobin purchased 500 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were purchased at an average cost of $64.64 per share, with a total value of $32,320.00. Following the completion of the purchase, the director now owns 3,200 shares in the company, valued at approximately $206,848. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ronald D. Green sold 4,333 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $68.49, for a total transaction of $296,767.17. Following the completion of the transaction, the director now directly owns 3,333 shares in the company, valued at $228,277.17. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,333 shares of company stock worth $1,246,737. Insiders own 4.70% of the company’s stock.
Neogen Corporation Company Profile
Neogen Corporation develops, manufactures and markets a range of products and services dedicated to food and animal safety. The Company operates through two segments: Food Safety and Animal Safety. The Food Safety segment produces and markets diagnostic test kits and related products used by food producers and processors to detect harmful natural toxins, foodborne bacteria, allergens and levels of general sanitation.
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