State Street Corp Acquires 43,496 Shares of Neogen Corporation (NEOG)
State Street Corp raised its holdings in Neogen Corporation (NASDAQ:NEOG) by 4.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 949,434 shares of the company’s stock after purchasing an additional 43,496 shares during the period. State Street Corp owned approximately 2.48% of Neogen Corporation worth $65,613,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Shelton Capital Management bought a new stake in Neogen Corporation in the 2nd quarter valued at about $261,000. Fred Alger Management Inc. boosted its holdings in Neogen Corporation by 13.8% in the 2nd quarter. Fred Alger Management Inc. now owns 443,000 shares of the company’s stock valued at $30,616,000 after purchasing an additional 53,745 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Neogen Corporation by 71.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 194,552 shares of the company’s stock valued at $13,445,000 after purchasing an additional 80,775 shares during the period. Citadel Advisors LLC boosted its holdings in Neogen Corporation by 551.3% in the 2nd quarter. Citadel Advisors LLC now owns 32,732 shares of the company’s stock valued at $2,262,000 after purchasing an additional 27,706 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its holdings in Neogen Corporation by 0.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 81,530 shares of the company’s stock valued at $5,635,000 after purchasing an additional 338 shares during the period. 86.54% of the stock is owned by hedge funds and other institutional investors.
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In other Neogen Corporation news, VP Edward Bradley sold 20,000 shares of Neogen Corporation stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $78.60, for a total transaction of $1,572,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Steven J. Quinlan sold 4,000 shares of Neogen Corporation stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $68.68, for a total transaction of $274,720.00. Following the sale, the vice president now owns 14,103 shares of the company’s stock, valued at $968,594.04. The disclosure for this sale can be found here. Insiders sold 153,543 shares of company stock valued at $11,418,768 over the last 90 days. 4.20% of the stock is owned by company insiders.
A number of analysts have issued reports on the stock. CL King assumed coverage on shares of Neogen Corporation in a report on Friday, July 14th. They issued a “neutral” rating for the company. BidaskClub downgraded shares of Neogen Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 18th. Finally, Zacks Investment Research downgraded shares of Neogen Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 18th.
Shares of Neogen Corporation (NASDAQ:NEOG) opened at 79.28 on Tuesday. The company has a market cap of $3.03 billion, a P/E ratio of 66.62 and a beta of 1.51. Neogen Corporation has a one year low of $50.53 and a one year high of $81.52. The stock’s 50 day moving average is $76.57 and its 200-day moving average is $68.43.
Neogen Corporation (NASDAQ:NEOG) last released its quarterly earnings data on Tuesday, September 19th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. Neogen Corporation had a net margin of 12.28% and a return on equity of 9.93%. The company had revenue of $95.30 million during the quarter, compared to analyst estimates of $94.87 million. During the same period last year, the business earned $0.26 earnings per share. Neogen Corporation’s revenue was up 14.0% compared to the same quarter last year. Equities research analysts forecast that Neogen Corporation will post $1.32 earnings per share for the current year.
Neogen Corporation Company Profile
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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