Neogen Corporation (NEOG) Position Increased by Great Lakes Advisors LLC
Great Lakes Advisors LLC raised its stake in shares of Neogen Corporation (NASDAQ:NEOG) by 23.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,562 shares of the company’s stock after buying an additional 8,045 shares during the period. Great Lakes Advisors LLC owned 0.11% of Neogen Corporation worth $2,941,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the stock. Sei Investments Co. increased its stake in shares of Neogen Corporation by 4.5% in the first quarter. Sei Investments Co. now owns 6,378 shares of the company’s stock valued at $418,000 after buying an additional 275 shares in the last quarter. Karp Capital Management Corp bought a new position in shares of Neogen Corporation during the first quarter valued at approximately $1,032,000. UBS Asset Management Americas Inc. boosted its position in shares of Neogen Corporation by 19.0% in the first quarter. UBS Asset Management Americas Inc. now owns 20,838 shares of the company’s stock valued at $1,366,000 after buying an additional 3,330 shares during the last quarter. Swiss National Bank boosted its position in shares of Neogen Corporation by 1.0% in the first quarter. Swiss National Bank now owns 62,350 shares of the company’s stock valued at $4,087,000 after buying an additional 600 shares during the last quarter. Finally, LS Investment Advisors LLC boosted its position in shares of Neogen Corporation by 0.8% in the first quarter. LS Investment Advisors LLC now owns 42,137 shares of the company’s stock valued at $2,762,000 after buying an additional 355 shares during the last quarter. Institutional investors own 86.18% of the company’s stock.
Neogen Corporation (NASDAQ NEOG) opened at 66.67 on Monday. The firm has a 50-day moving average of $66.50 and a 200-day moving average of $65.03. The company has a market cap of $2.55 billion, a PE ratio of 58.48 and a beta of 1.52. Neogen Corporation has a one year low of $50.53 and a one year high of $69.97.
Neogen Corporation (NASDAQ:NEOG) last released its earnings results on Tuesday, July 18th. The company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. Neogen Corporation had a net margin of 12.11% and a return on equity of 9.87%. The firm had revenue of $98.80 million for the quarter, compared to analyst estimates of $100.80 million. During the same period last year, the firm earned $0.26 EPS. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, analysts predict that Neogen Corporation will post $1.30 EPS for the current year.
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Several brokerages have recently commented on NEOG. Zacks Investment Research cut shares of Neogen Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. CL King began coverage on shares of Neogen Corporation in a report on Friday, July 14th. They issued a “neutral” rating on the stock. Finally, BidaskClub raised shares of Neogen Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, June 30th.
In other news, VP Steven J. Quinlan sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $68.68, for a total value of $274,720.00. Following the sale, the vice president now directly owns 14,103 shares in the company, valued at approximately $968,594.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Edward Bradley sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $66.33, for a total transaction of $331,650.00. Following the completion of the sale, the vice president now owns 86,512 shares in the company, valued at $5,738,340.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,333 shares of company stock worth $1,246,737. 4.70% of the stock is currently owned by corporate insiders.
About Neogen Corporation
Neogen Corporation develops, manufactures and markets a range of products and services dedicated to food and animal safety. The Company operates through two segments: Food Safety and Animal Safety. The Food Safety segment produces and markets diagnostic test kits and related products used by food producers and processors to detect harmful natural toxins, foodborne bacteria, allergens and levels of general sanitation.
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