Wells Fargo & Company MN increased its stake in Neogen (NASDAQ:NEOG) by 6.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 184,741 shares of the company’s stock after purchasing an additional 11,724 shares during the quarter. Wells Fargo & Company MN owned approximately 0.36% of Neogen worth $15,188,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Louisiana State Employees Retirement System increased its position in Neogen by 5.8% in the 4th quarter. Louisiana State Employees Retirement System now owns 16,400 shares of the company’s stock worth $1,348,000 after buying an additional 900 shares during the period. Prudential Financial Inc. increased its position in Neogen by 1.5% in the 3rd quarter. Prudential Financial Inc. now owns 65,445 shares of the company’s stock worth $5,069,000 after buying an additional 970 shares during the period. Russell Investments Group Ltd. increased its position in Neogen by 3.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 33,512 shares of the company’s stock worth $2,596,000 after buying an additional 979 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in Neogen by 4.5% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 25,764 shares of the company’s stock worth $1,996,000 after buying an additional 1,109 shares during the period. Finally, Thomson Horstmann & Bryant Inc. increased its position in Neogen by 7.9% in the 4th quarter. Thomson Horstmann & Bryant Inc. now owns 20,422 shares of the company’s stock worth $1,678,000 after buying an additional 1,491 shares during the period. Hedge funds and other institutional investors own 67.69% of the company’s stock.
NEOG opened at $67.30 on Friday. The company has a market cap of $3,469.99, a PE ratio of 78.26, a PEG ratio of 4.06 and a beta of 1.27. Neogen has a 1 year low of $44.63 and a 1 year high of $68.69.
Neogen (NASDAQ:NEOG) last released its quarterly earnings data on Thursday, March 22nd. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.08. The business had revenue of $95.90 million for the quarter, compared to analysts’ expectations of $97.93 million. Neogen had a return on equity of 11.49% and a net margin of 14.82%. Neogen’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.27 earnings per share. analysts predict that Neogen will post 1.1 EPS for the current year.
Several brokerages have commented on NEOG. ValuEngine raised Neogen from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Zacks Investment Research downgraded Neogen from a “buy” rating to a “hold” rating in a research report on Thursday, March 29th. Stephens reaffirmed a “hold” rating and issued a $65.00 price target (up from $62.00) on shares of Neogen in a research report on Monday, March 26th. BidaskClub upgraded Neogen from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 15th. Finally, Roth Capital set a $62.00 price objective on Neogen and gave the company a “hold” rating in a research report on Thursday, January 4th. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $65.25.
In related news, insider James L. Herbert sold 25,334 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $59.32, for a total value of $1,502,812.88. Following the sale, the insider now owns 1,157,591 shares of the company’s stock, valued at approximately $68,668,298.12. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thomas H. Reed sold 6,000 shares of the business’s stock in a transaction on Friday, March 23rd. The shares were sold at an average price of $62.47, for a total value of $374,820.00. Following the completion of the sale, the director now directly owns 19,375 shares in the company, valued at approximately $1,210,356.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 77,382 shares of company stock worth $4,645,383. 4.20% of the stock is currently owned by company insiders.
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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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