Neogen Co. (NASDAQ:NEOG) Stake Lifted by Neuberger Berman Group LLC

Neuberger Berman Group LLC increased its stake in Neogen Co. (NASDAQ:NEOG) by 95.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,179,531 shares of the company’s stock after acquiring an additional 1,062,168 shares during the period. Neuberger Berman Group LLC owned approximately 2.03% of Neogen worth $99,140,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. boosted its holdings in shares of Neogen by 5.4% in the first quarter. Oppenheimer Asset Management Inc. now owns 87,808 shares of the company’s stock valued at $7,805,000 after acquiring an additional 4,460 shares in the last quarter. Congress Asset Management Co. MA boosted its holdings in shares of Neogen by 171.7% in the second quarter. Congress Asset Management Co. MA now owns 235,693 shares of the company’s stock valued at $10,851,000 after acquiring an additional 148,957 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Neogen by 107.9% during the second quarter. ProShare Advisors LLC now owns 39,914 shares of the company’s stock worth $1,838,000 after buying an additional 20,718 shares in the last quarter. Davy Global Fund Management Ltd boosted its holdings in Neogen by 239.9% during the second quarter. Davy Global Fund Management Ltd now owns 127,570 shares of the company’s stock worth $5,873,000 after buying an additional 90,038 shares in the last quarter. Finally, Oliver Luxxe Assets LLC boosted its holdings in Neogen by 100.0% during the second quarter. Oliver Luxxe Assets LLC now owns 47,520 shares of the company’s stock worth $2,188,000 after buying an additional 23,760 shares in the last quarter. Institutional investors and hedge funds own 92.00% of the company’s stock.

NEOG stock opened at $40.97 on Thursday. Neogen Co. has a 12-month low of $33.83 and a 12-month high of $48.85. The company has a market cap of $4.40 billion, a price-to-earnings ratio of 71.25 and a beta of 0.51. The company has a 50 day moving average of $42.83 and a two-hundred day moving average of $36.89.

Neogen (NASDAQ:NEOG) last released its quarterly earnings results on Monday, September 20th. The company reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. The business had revenue of $128.30 million for the quarter, compared to the consensus estimate of $121.20 million. Neogen had a net margin of 13.00% and a return on equity of 7.67%. Neogen’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.30 EPS. As a group, analysts expect that Neogen Co. will post 0.67 EPS for the current fiscal year.

In related news, VP Jason Warren Lilly sold 15,998 shares of Neogen stock in a transaction on Thursday, September 30th. The shares were sold at an average price of $43.72, for a total value of $699,432.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Steven J. Quinlan sold 5,700 shares of the firm’s stock in a transaction on Wednesday, September 29th. The stock was sold at an average price of $44.05, for a total transaction of $251,085.00. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by company insiders.

NEOG has been the subject of a number of research reports. Zacks Investment Research cut shares of Neogen from a “buy” rating to a “hold” rating and set a $45.00 target price for the company. in a report on Monday, September 27th. TheStreet raised shares of Neogen from a “c” rating to a “b-” rating in a research note on Thursday, July 8th.

Neogen Company Profile

Neogen Corp. engages in the development, manufacture, and sale of products dedicated to food and animal safety. It operates through the following segments: Food Safety and Animal Safety. The Food Safety segment consists of diagnostic test kits and related products used by food producers and processors to detect harmful natural toxins, foodborne bacteria, allergens, drug residues, and levels of general sanitation.

Featured Story: Stocks Increasing Dividends

Want to see what other hedge funds are holding NEOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Neogen Co. (NASDAQ:NEOG).

Institutional Ownership by Quarter for Neogen (NASDAQ:NEOG)

Receive News & Ratings for Neogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Neogen and related companies with MarketBeat.com's FREE daily email newsletter.