Thomson Horstmann & Bryant Inc. Grows Holdings in Neogen Co. (NEOG)
Thomson Horstmann & Bryant Inc. grew its position in shares of Neogen Co. (NASDAQ:NEOG) by 7.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,422 shares of the company’s stock after purchasing an additional 1,491 shares during the period. Thomson Horstmann & Bryant Inc.’s holdings in Neogen were worth $1,678,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in Neogen by 4.8% during the second quarter. State Street Corp now owns 949,434 shares of the company’s stock worth $65,613,000 after purchasing an additional 43,496 shares in the last quarter. Nationwide Fund Advisors lifted its stake in Neogen by 3.2% during the third quarter. Nationwide Fund Advisors now owns 386,921 shares of the company’s stock worth $29,971,000 after purchasing an additional 11,909 shares in the last quarter. Fairfield Bush & CO. raised its stake in shares of Neogen by 4.6% in the second quarter. Fairfield Bush & CO. now owns 86,570 shares of the company’s stock valued at $5,983,000 after acquiring an additional 3,845 shares in the last quarter. Fred Alger Management Inc. raised its stake in shares of Neogen by 13.8% in the second quarter. Fred Alger Management Inc. now owns 443,000 shares of the company’s stock valued at $30,616,000 after acquiring an additional 53,745 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Neogen by 41.0% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,600 shares of the company’s stock valued at $666,000 after acquiring an additional 2,500 shares in the last quarter. Institutional investors own 86.96% of the company’s stock.
In other Neogen news, CFO Steven J. Quinlan sold 4,000 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $80.26, for a total value of $321,040.00. Following the sale, the chief financial officer now directly owns 14,103 shares in the company, valued at $1,131,906.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Edward Bradley sold 17,824 shares of the firm’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $80.32, for a total value of $1,431,623.68. Following the completion of the sale, the vice president now owns 27,212 shares in the company, valued at $2,185,667.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,824 shares of company stock worth $3,870,364. 4.20% of the stock is owned by insiders.
Neogen (NASDAQ:NEOG) last announced its quarterly earnings data on Wednesday, January 3rd. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.07. Neogen had a return on equity of 10.72% and a net margin of 13.47%. The business had revenue of $101.80 million for the quarter, compared to analysts’ expectations of $102.46 million. During the same period last year, the firm earned $0.29 earnings per share. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. research analysts expect that Neogen Co. will post 1.04 EPS for the current fiscal year.
Several analysts have recently issued reports on the company. Zacks Investment Research cut Neogen from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. Stephens reiterated a “hold” rating and issued a $62.00 price objective on shares of Neogen in a research note on Wednesday. BidaskClub cut Neogen from a “buy” rating to a “hold” rating in a research note on Thursday. Roth Capital set a $62.00 price objective on Neogen and gave the company a “hold” rating in a research note on Thursday, January 4th. Finally, Craig Hallum increased their price objective on Neogen from $46.50 to $60.00 and gave the company a “hold” rating in a research note on Thursday, December 7th. Five research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. Neogen currently has a consensus rating of “Hold” and an average target price of $63.25.
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Neogen 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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