Russell Investments Group Ltd. grew its stake in Neogen Co. (NASDAQ:NEOG) by 60.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,448 shares of the company’s stock after purchasing an additional 10,378 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.05% of Neogen worth $1,704,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Bridge City Capital LLC grew its stake in Neogen by 0.5% during the second quarter. Bridge City Capital LLC now owns 31,541 shares of the company’s stock worth $1,959,000 after buying an additional 154 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Neogen by 1.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 17,740 shares of the company’s stock valued at $1,101,000 after purchasing an additional 189 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in shares of Neogen by 1.8% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 15,580 shares of the company’s stock valued at $968,000 after purchasing an additional 270 shares in the last quarter. Manchester Capital Management LLC boosted its stake in shares of Neogen by 105.6% in the 1st quarter. Manchester Capital Management LLC now owns 590 shares of the company’s stock valued at $34,000 after purchasing an additional 303 shares in the last quarter. Finally, Prudential Financial Inc. raised its holdings in Neogen by 0.4% in the 2nd quarter. Prudential Financial Inc. now owns 86,001 shares of the company’s stock valued at $5,342,000 after buying an additional 310 shares during the last quarter. 89.92% of the stock is currently owned by institutional investors.
In other news, Director Jack C. Parnell sold 439 shares of Neogen stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $70.00, for a total value of $30,730.00. Following the completion of the sale, the director now owns 5,000 shares in the company, valued at approximately $350,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John Edward Adent sold 31,489 shares of Neogen stock in a transaction on Monday, August 5th. The shares were sold at an average price of $69.03, for a total transaction of $2,173,685.67. Following the completion of the sale, the chief executive officer now directly owns 44,302 shares of the company’s stock, valued at approximately $3,058,167.06. The disclosure for this sale can be found here. Insiders sold a total of 131,198 shares of company stock valued at $8,826,789 in the last quarter. 1.70% of the stock is currently owned by company insiders.
Neogen (NASDAQ:NEOG) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.02. The firm had revenue of $109.80 million during the quarter, compared to analyst estimates of $110.14 million. Neogen had a net margin of 14.53% and a return on equity of 9.86%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.33 EPS. On average, analysts forecast that Neogen Co. will post 1.22 earnings per share for the current year.
A number of research analysts recently issued reports on the stock. ValuEngine upgraded shares of Neogen from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Guggenheim assumed coverage on shares of Neogen in a report on Thursday, May 23rd. They issued a “neutral” rating for the company. BidaskClub lowered shares of Neogen from a “strong-buy” rating to a “buy” rating in a report on Friday. Zacks Investment Research lowered shares of Neogen from a “hold” rating to a “sell” rating and set a $68.00 price objective for the company. in a report on Friday, June 21st. Finally, Craig Hallum raised their price objective on shares of Neogen from $72.00 to $78.00 and gave the company an “in-line” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Neogen presently has a consensus rating of “Hold” and a consensus target price of $73.00.
Neogen Company Profile
Neogen Corporation, together with its subsidiaries, develops, manufactures, and markets various products for food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment primarily offers diagnostic test kits and complementary to detect dangerous and/or unintended substances in human food and animal feed, such as foodborne pathogens, spoilage organisms, natural toxins, food allergens, genetic modifications, ruminant by-products, meat speciation, drug residues, pesticide residues, and general sanitation concerns; and AccuPoint Advanced rapid sanitation test for adenosine triphosphate, a chemical found in living cells.
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