Manchester Capital Management LLC raised its stake in Neogen Co. (NASDAQ:NEOG) by 105.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 590 shares of the company’s stock after purchasing an additional 303 shares during the period. Manchester Capital Management LLC’s holdings in Neogen were worth $34,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. Creative Planning boosted its holdings in Neogen by 2.4% in the 1st quarter. Creative Planning now owns 7,554 shares of the company’s stock valued at $434,000 after purchasing an additional 174 shares during the period. Arizona State Retirement System boosted its holdings in Neogen by 0.3% in the 1st quarter. Arizona State Retirement System now owns 80,344 shares of the company’s stock valued at $4,611,000 after purchasing an additional 272 shares during the period. Captrust Financial Advisors boosted its holdings in Neogen by 47.0% in the 4th quarter. Captrust Financial Advisors now owns 970 shares of the company’s stock valued at $55,000 after purchasing an additional 310 shares during the period. McCollum Christoferson Group LLC boosted its holdings in Neogen by 0.3% in the 1st quarter. McCollum Christoferson Group LLC now owns 124,921 shares of the company’s stock valued at $7,169,000 after purchasing an additional 334 shares during the period. Finally, Bank of Montreal Can boosted its holdings in Neogen by 3.7% in the 4th quarter. Bank of Montreal Can now owns 10,196 shares of the company’s stock valued at $581,000 after purchasing an additional 361 shares during the period. 88.81% of the stock is owned by hedge funds and other institutional investors.
NEOG has been the subject of a number of research reports. Craig Hallum raised shares of Neogen from a “hold” rating to a “buy” rating and set a $62.76 price target for the company in a report on Tuesday, March 19th. ValuEngine downgraded shares of Neogen from a “buy” rating to a “hold” rating in a report on Wednesday, January 30th. BidaskClub raised shares of Neogen from a “sell” rating to a “hold” rating in a report on Tuesday, April 30th. Guggenheim initiated coverage on shares of Neogen in a report on Thursday. They set a “neutral” rating for the company. Finally, Zacks Investment Research downgraded shares of Neogen from a “hold” rating to a “sell” rating in a report on Monday, May 20th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $62.76.
NASDAQ:NEOG opened at $57.07 on Friday. The stock has a market cap of $2.97 billion, a PE ratio of 47.17, a price-to-earnings-growth ratio of 5.24 and a beta of 1.33. Neogen Co. has a 52 week low of $50.60 and a 52 week high of $97.38.
Neogen (NASDAQ:NEOG) last released its quarterly earnings data on Tuesday, March 26th. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). The business had revenue of $97.70 million for the quarter, compared to the consensus estimate of $102.55 million. Neogen had a return on equity of 10.48% and a net margin of 14.96%. Neogen’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 earnings per share. On average, research analysts anticipate that Neogen Co. will post 1.12 earnings per share for the current fiscal year.
In related news, VP Terri A. Morrical sold 7,600 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $61.69, for a total transaction of $468,844.00. Following the completion of the sale, the vice president now owns 45,175 shares in the company, valued at approximately $2,786,845.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James L. Herbert sold 5,000 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $60.73, for a total transaction of $303,650.00. Following the sale, the director now owns 671,484 shares of the company’s stock, valued at approximately $40,779,223.32. The disclosure for this sale can be found here. Insiders have sold a total of 103,385 shares of company stock valued at $6,027,055 over the last ninety days. 3.00% of the stock is owned by insiders.
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.
Further Reading: What is the yield curve?
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).
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.