Neogen Co. (NEOG) Position Lifted by Royal Bank of Canada

Royal Bank of Canada boosted its stake in Neogen Co. (NASDAQ:NEOG) by 0.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 861,785 shares of the company’s stock after acquiring an additional 901 shares during the period. Royal Bank of Canada owned 1.67% of Neogen worth $57,731,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in NEOG. Schwab Charles Investment Management Inc. raised its position in Neogen by 4.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 179,490 shares of the company’s stock worth $14,756,000 after acquiring an additional 7,712 shares during the period. Aperio Group LLC raised its position in Neogen by 35.1% in the fourth quarter. Aperio Group LLC now owns 21,963 shares of the company’s stock worth $1,354,000 after acquiring an additional 5,704 shares during the period. Teacher Retirement System of Texas raised its position in Neogen by 315.9% in the fourth quarter. Teacher Retirement System of Texas now owns 13,052 shares of the company’s stock worth $1,073,000 after acquiring an additional 9,914 shares during the period. California Public Employees Retirement System raised its position in Neogen by 2.8% in the fourth quarter. California Public Employees Retirement System now owns 102,252 shares of the company’s stock worth $8,406,000 after acquiring an additional 2,789 shares during the period. Finally, Swiss National Bank raised its position in Neogen by 2.4% in the fourth quarter. Swiss National Bank now owns 65,150 shares of the company’s stock worth $5,356,000 after acquiring an additional 1,500 shares during the period. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have commented on the stock. BidaskClub lowered shares of Neogen from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 24th. Zacks Investment Research lowered shares of Neogen from a “hold” rating to a “sell” rating in a research report on Thursday, May 31st. ValuEngine raised shares of Neogen from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, Stephens reaffirmed a “hold” rating and issued a $65.00 price objective (up previously from $62.00) on shares of Neogen in a research report on Monday, March 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $65.25.

Shares of NEOG stock opened at $83.60 on Friday. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 97.21, a P/E/G ratio of 4.41 and a beta of 1.29. Neogen Co. has a 52 week low of $47.67 and a 52 week high of $84.46.

In other news, Director G Bruce Papesh sold 6,000 shares of Neogen stock in a transaction dated Wednesday, May 16th. The shares were sold at an average price of $72.50, for a total value of $435,000.00. Following the completion of the transaction, the director now owns 26,261 shares in the company, valued at $1,903,922.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William T. Boehm sold 500 shares of Neogen stock in a transaction dated Wednesday, April 18th. The stock was sold at an average price of $69.84, for a total transaction of $34,920.00. Following the completion of the transaction, the director now owns 10,480 shares of the company’s stock, valued at approximately $731,923.20. The disclosure for this sale can be found here. Insiders sold 111,320 shares of company stock valued at $7,820,153 in the last quarter. Corporate insiders own 4.20% of the company’s stock.

Neogen Profile

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.

Institutional Ownership by Quarter for Neogen (NASDAQ:NEOG)

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