McCollum Christoferson Group LLC bought a new stake in Neogen Co. (NASDAQ:NEOG) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 100,050 shares of the company’s stock, valued at approximately $8,225,000. Neogen comprises about 3.4% of McCollum Christoferson Group LLC’s investment portfolio, making the stock its largest position. McCollum Christoferson Group LLC owned about 0.19% of Neogen at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of NEOG. State Street Corp boosted its position in Neogen by 4.8% in the 2nd quarter. State Street Corp now owns 949,434 shares of the company’s stock valued at $65,613,000 after buying an additional 43,496 shares during the period. Nationwide Fund Advisors boosted its position in Neogen by 3.2% in the 3rd quarter. Nationwide Fund Advisors now owns 386,921 shares of the company’s stock valued at $29,971,000 after buying an additional 11,909 shares during the period. Fairfield Bush & CO. boosted its position in Neogen by 4.6% in the 2nd quarter. Fairfield Bush & CO. now owns 86,570 shares of the company’s stock valued at $5,983,000 after buying an additional 3,845 shares during the period. Fred Alger Management Inc. boosted its position in Neogen by 13.8% in the 2nd quarter. Fred Alger Management Inc. now owns 443,000 shares of the company’s stock valued at $30,616,000 after buying an additional 53,745 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. boosted its position in Neogen by 41.0% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,600 shares of the company’s stock valued at $666,000 after buying an additional 2,500 shares during the period. Hedge funds and other institutional investors own 64.48% of the company’s stock.
In related news, VP Edward Bradley sold 17,824 shares of Neogen stock in a transaction on Friday, November 17th. The shares were sold at an average price of $80.32, for a total transaction of $1,431,623.68. Following the sale, the vice president now directly owns 27,212 shares in the company, valued at approximately $2,185,667.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James L. Herbert sold 26,000 shares of Neogen stock in a transaction on Monday, November 13th. The stock was sold at an average price of $81.45, for a total transaction of $2,117,700.00. Following the sale, the insider now owns 879,430 shares in the company, valued at $71,629,573.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,824 shares of company stock valued at $3,870,364. Corporate insiders own 4.20% of the company’s stock.
Neogen Co. (NEOG) traded down $0.67 during trading on Thursday, hitting $58.06. 78,584 shares of the stock traded hands, compared to its average volume of 186,117. The stock has a market cap of $3,000.00, a PE ratio of 58.06, a P/E/G ratio of 3.71 and a beta of 1.54. Neogen Co. has a 1-year low of $44.63 and a 1-year high of $64.42.
Neogen (NASDAQ:NEOG) last released its quarterly earnings data on Wednesday, January 3rd. The company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.07. The business had revenue of $101.80 million during the quarter, compared to analysts’ expectations of $102.46 million. Neogen had a net margin of 13.47% and a return on equity of 10.72%. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.29 EPS. analysts anticipate that Neogen Co. will post 1.06 earnings per share for the current year.
Several equities analysts have commented on NEOG shares. Zacks Investment Research cut shares of Neogen from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Roth Capital started coverage on shares of Neogen in a research report on Tuesday, December 5th. They issued a “neutral” rating and a $61.50 price target for the company. Craig Hallum raised their price target on shares of Neogen from $46.50 to $60.00 and gave the company a “hold” rating in a research report on Thursday, December 7th. Stephens reissued a “hold” rating and issued a $62.00 price target on shares of Neogen in a research report on Wednesday, January 10th. Finally, BidaskClub cut shares of Neogen from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Five analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $63.25.
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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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