King Luther Capital Management Corp trimmed its stake in shares of Neogen Corporation (NASDAQ:NEOG) by 1.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 726,842 shares of the company’s stock after selling 7,435 shares during the period. King Luther Capital Management Corp owned about 1.90% of Neogen worth $56,301,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of Neogen during the 2nd quarter valued at approximately $154,000. Riverhead Capital Management LLC lifted its position in shares of Neogen by 91.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,297 shares of the company’s stock valued at $159,000 after acquiring an additional 1,097 shares during the period. Bell Bank acquired a new stake in shares of Neogen during the 3rd quarter valued at approximately $201,000. Parametrica Management Ltd acquired a new stake in shares of Neogen during the 3rd quarter valued at approximately $202,000. Finally, Arcadia Investment Management Corp MI acquired a new stake in shares of Neogen during the 3rd quarter valued at approximately $230,000. Institutional investors own 87.06% of the company’s stock.
Neogen Corporation (NASDAQ NEOG) opened at $83.46 on Tuesday. Neogen Corporation has a 12-month low of $59.51 and a 12-month high of $85.89. The stock has a market capitalization of $3,200.94, a P/E ratio of 70.41, a P/E/G ratio of 4.26 and a beta of 1.54.
Neogen (NASDAQ:NEOG) last issued its quarterly earnings data on Tuesday, September 19th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.01. Neogen had a return on equity of 9.93% and a net margin of 12.28%. The firm had revenue of $95.30 million during the quarter, compared to the consensus estimate of $94.87 million. During the same period in the previous year, the firm posted $0.26 EPS. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. research analysts forecast that Neogen Corporation will post 1.31 EPS for the current year.
In related news, VP Edward Bradley sold 13,628 shares of Neogen stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $70.06, for a total transaction of $954,777.68. Following the completion of the transaction, the vice president now directly owns 71,691 shares in the company, valued at approximately $5,022,671.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven J. Quinlan sold 2,772 shares of Neogen stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $73.54, for a total value of $203,852.88. Following the transaction, the chief financial officer now owns 12,875 shares of the company’s stock, valued at $946,827.50. The disclosure for this sale can be found here. Insiders have sold a total of 193,034 shares of company stock valued at $14,717,645 over the last 90 days. Insiders own 4.20% of the company’s stock.
NEOG has been the subject of a number of research reports. BidaskClub downgraded shares of Neogen from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Zacks Investment Research downgraded shares of Neogen from a “buy” rating to a “hold” rating in a research report on Friday, October 13th.
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Neogen 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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