D.A. Davidson & CO. purchased a new position in Neogen Co. (NASDAQ:NEOG) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 3,760 shares of the company’s stock, valued at approximately $309,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC purchased a new position in shares of Neogen during the fourth quarter valued at approximately $156,000. Bell Bank purchased a new position in shares of Neogen during the third quarter valued at approximately $201,000. Parametrica Management Ltd purchased a new position in shares of Neogen during the third quarter valued at approximately $202,000. North Star Asset Management Inc. purchased a new position in shares of Neogen during the fourth quarter valued at approximately $274,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Neogen during the third quarter valued at approximately $359,000. Institutional investors own 66.13% of the company’s stock.
Shares of Neogen Co. (NEOG) opened at $60.11 on Friday. Neogen Co. has a 12 month low of $44.63 and a 12 month high of $64.42. The firm has a market cap of $3,065.08, a P/E ratio of 59.81, a PEG ratio of 3.69 and a beta of 1.46.
Neogen (NASDAQ:NEOG) last posted its quarterly earnings results on Wednesday, January 3rd. The company reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.07. Neogen had a net margin of 13.47% and a return on equity of 10.72%. The firm had revenue of $101.80 million during the quarter, compared to the consensus estimate of $102.46 million. During the same quarter in the previous year, the firm posted $0.29 earnings per share. The company’s revenue was up 12.2% on a year-over-year basis. equities analysts predict that Neogen Co. will post 1.08 earnings per share for the current fiscal year.
In other news, VP Edward Bradley sold 4,223 shares of Neogen stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $60.00, for a total transaction of $253,380.00. Following the completion of the sale, the vice president now owns 12,735 shares of the company’s stock, valued at $764,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steven J. Quinlan sold 2,000 shares of Neogen stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $60.15, for a total transaction of $120,300.00. Following the sale, the chief financial officer now directly owns 15,470 shares of the company’s stock, valued at approximately $930,520.50. The disclosure for this sale can be found here. Insiders have sold 66,382 shares of company stock valued at $3,939,913 in the last ninety days. Insiders own 4.20% of the company’s stock.
NEOG has been the subject of several recent analyst reports. Zacks Investment Research lowered Neogen from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Roth Capital initiated coverage on Neogen in a research report on Tuesday, December 5th. They set a “neutral” rating and a $61.50 target price for the company. Craig Hallum boosted their target price on Neogen from $46.50 to $60.00 and gave the company a “hold” rating in a research report on Thursday, December 7th. Stephens restated a “hold” rating and set a $62.00 target price on shares of Neogen in a research report on Wednesday, January 10th. Finally, BidaskClub upgraded Neogen from a “hold” rating to a “buy” rating in a research report on Friday, February 16th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Neogen presently has an average rating of “Hold” and a consensus price target of $63.25.
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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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