Neogen Corporation (NEOG) Stake Lessened by North Point Portfolio Managers Corp OH
North Point Portfolio Managers Corp OH lessened its stake in Neogen Corporation (NASDAQ:NEOG) by 0.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 197,118 shares of the company’s stock after selling 1,660 shares during the quarter. Neogen Corporation makes up approximately 2.6% of North Point Portfolio Managers Corp OH’s holdings, making the stock its 18th biggest holding. North Point Portfolio Managers Corp OH owned about 0.52% of Neogen Corporation worth $15,269,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of NEOG. SG Americas Securities LLC acquired a new stake in shares of Neogen Corporation in the 2nd quarter valued at about $154,000. Riverhead Capital Management LLC raised its stake in shares of Neogen Corporation by 91.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,297 shares of the company’s stock valued at $159,000 after purchasing an additional 1,097 shares in the last quarter. Parametrica Management Ltd acquired a new stake in shares of Neogen Corporation in the 3rd quarter valued at about $202,000. Victory Capital Management Inc. raised its stake in shares of Neogen Corporation by 17.5% in the 2nd quarter. Victory Capital Management Inc. now owns 2,989 shares of the company’s stock valued at $207,000 after purchasing an additional 446 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Neogen Corporation in the 2nd quarter valued at about $209,000. Institutional investors and hedge funds own 86.54% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Neogen Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. BidaskClub upgraded shares of Neogen Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th. Finally, CL King assumed coverage on shares of Neogen Corporation in a research note on Friday, July 14th. They issued a “neutral” rating on the stock.
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Shares of Neogen Corporation (NEOG) traded down 1.05% during midday trading on Wednesday, hitting $79.36. 38,599 shares of the company were exchanged. The stock’s 50-day moving average is $76.84 and its 200-day moving average is $68.52. Neogen Corporation has a one year low of $50.53 and a one year high of $81.52. The stock has a market cap of $3.03 billion, a PE ratio of 66.69 and a beta of 1.52.
Neogen Corporation (NASDAQ:NEOG) last released its quarterly earnings data on Tuesday, September 19th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The company had revenue of $95.30 million during the quarter, compared to the consensus estimate of $94.87 million. Neogen Corporation had a net margin of 12.28% and a return on equity of 9.93%. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period last year, the firm earned $0.26 EPS. Equities research analysts anticipate that Neogen Corporation will post $1.32 EPS for the current year.
In other news, VP Steven J. Quinlan sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $68.68, for a total transaction of $274,720.00. Following the completion of the transaction, the vice president now directly owns 14,103 shares of the company’s stock, valued at approximately $968,594.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Edward Bradley sold 20,000 shares of the firm’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $78.60, for a total transaction of $1,572,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 157,543 shares of company stock valued at $11,739,808 over the last ninety days. 4.20% of the stock is owned by insiders.
Neogen Corporation 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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