Private Harbour Investment Management & Counsel LLC cut its position in shares of Neogen Co. (NASDAQ:NEOG) by 4.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,994 shares of the company’s stock after selling 871 shares during the period. Neogen accounts for 1.5% of Private Harbour Investment Management & Counsel LLC’s holdings, making the stock its 25th biggest position. Private Harbour Investment Management & Counsel LLC’s holdings in Neogen were worth $1,603,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its position in Neogen by 122.1% during the second quarter. Russell Investments Group Ltd. now owns 84,852 shares of the company’s stock worth $6,805,000 after purchasing an additional 46,642 shares during the last quarter. Strs Ohio increased its position in Neogen by 57.6% during the second quarter. Strs Ohio now owns 22,700 shares of the company’s stock worth $1,820,000 after purchasing an additional 8,300 shares during the last quarter. Rhumbline Advisers increased its position in Neogen by 3.0% during the second quarter. Rhumbline Advisers now owns 124,313 shares of the company’s stock worth $9,969,000 after purchasing an additional 3,617 shares during the last quarter. Sei Investments Co. increased its position in Neogen by 35.1% during the second quarter. Sei Investments Co. now owns 22,283 shares of the company’s stock worth $1,786,000 after purchasing an additional 5,790 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Neogen during the second quarter worth about $875,000. 89.58% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NEOG opened at $83.66 on Friday. Neogen Co. has a 1-year low of $48.55 and a 1-year high of $84.99. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of 69.14 and a beta of 1.33.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings results on Tuesday, July 17th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. Neogen had a net margin of 15.70% and a return on equity of 11.97%. The business had revenue of $109.29 million during the quarter, compared to analysts’ expectations of $108.11 million. During the same period last year, the business earned $0.24 earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. equities research analysts anticipate that Neogen Co. will post 1.27 EPS for the current year.

In other Neogen news, Director Jack C. Parnell sold 2,418 shares of Neogen stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $83.97, for a total transaction of $203,039.46. Following the completion of the sale, the director now directly owns 14,073 shares in the company, valued at $1,181,709.81. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider James L. Herbert sold 39,000 shares of Neogen stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $81.78, for a total transaction of $3,189,420.00. Following the sale, the insider now owns 762,226 shares of the company’s stock, valued at $62,334,842.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 246,650 shares of company stock valued at $20,257,385. Company insiders own 4.20% of the company’s stock.

Several equities research analysts recently issued reports on NEOG shares. Craig Hallum raised their price objective on shares of Neogen from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Wednesday, July 18th. Zacks Investment Research cut shares of Neogen from a “hold” rating to a “sell” rating in a research report on Thursday, May 31st. ValuEngine upgraded shares of Neogen from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 6th. Finally, BidaskClub upgraded shares of Neogen from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $67.75.

Neogen Profile

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.

Featured Article: Leveraged Buyout (LBO)

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).

Institutional Ownership by Quarter for Neogen (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.