SG Americas Securities LLC increased its position in Neogen (NASDAQ:NEOG) by 22.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,602 shares of the company’s stock after purchasing an additional 4,128 shares during the period. SG Americas Securities LLC’s holdings in Neogen were worth $1,514,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in NEOG. Louisiana State Employees Retirement System lifted its stake in Neogen by 5.8% during the 4th quarter. Louisiana State Employees Retirement System now owns 16,400 shares of the company’s stock valued at $1,348,000 after acquiring an additional 900 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in Neogen by 4.5% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 179,490 shares of the company’s stock valued at $14,756,000 after acquiring an additional 7,712 shares during the period. Conestoga Capital Advisors LLC lifted its stake in Neogen by 12.4% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,077,886 shares of the company’s stock valued at $88,613,000 after acquiring an additional 119,102 shares during the period. Congress Asset Management Co. MA lifted its stake in Neogen by 85.3% during the 4th quarter. Congress Asset Management Co. MA now owns 30,714 shares of the company’s stock valued at $2,525,000 after acquiring an additional 14,137 shares during the period. Finally, North Star Asset Management Inc. bought a new position in Neogen during the 4th quarter valued at about $274,000. Institutional investors own 73.59% of the company’s stock.
In other news, Director William T. Boehm sold 1,020 shares of the company’s stock in a transaction dated Tuesday, April 10th. The shares were sold at an average price of $67.94, for a total transaction of $69,298.80. Following the completion of the sale, the director now owns 10,000 shares of the company’s stock, valued at approximately $679,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Edward Bradley sold 7,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $59.60, for a total transaction of $417,200.00. Following the sale, the vice president now directly owns 12,735 shares of the company’s stock, valued at approximately $759,006. The disclosure for this sale can be found here. Insiders have sold a total of 151,654 shares of company stock valued at $10,235,286 in the last ninety days. Insiders own 4.20% of the company’s stock.
Several research firms have issued reports on NEOG. Zacks Investment Research cut shares of Neogen from a “buy” rating to a “hold” rating in a research note on Thursday, March 29th. ValuEngine upgraded shares of Neogen from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. BidaskClub upgraded shares of Neogen from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 15th. Finally, Stephens restated a “hold” rating and set a $65.00 target price (up previously from $62.00) on shares of Neogen in a research note on Monday, March 26th. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $65.25.
Neogen opened at $74.70 on Friday, according to MarketBeat Ratings. Neogen has a 52 week low of $45.46 and a 52 week high of $75.00. The stock has a market cap of $3.85 billion, a PE ratio of 86.86, a price-to-earnings-growth ratio of 4.35 and a beta of 1.27.
Neogen (NASDAQ:NEOG) last released its quarterly earnings results on Thursday, March 22nd. The company reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.08. Neogen had a net margin of 14.82% and a return on equity of 11.49%. The firm had revenue of $95.90 million during the quarter, compared to analyst estimates of $97.93 million. During the same quarter in the prior year, the firm earned $0.27 EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. sell-side analysts expect that Neogen will post 1.14 earnings per share for the current fiscal year.
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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