State of Alaska Department of Revenue lifted its stake in shares of Neogen Co. (NASDAQ:NEOG) by 127.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 40,390 shares of the company’s stock after buying an additional 22,650 shares during the quarter. State of Alaska Department of Revenue owned about 0.08% of Neogen worth $2,750,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Atria Investments LLC acquired a new stake in shares of Neogen during the 2nd quarter worth approximately $2,399,000. BlackRock Inc. grew its position in Neogen by 2.1% in the 2nd quarter. BlackRock Inc. now owns 7,643,175 shares of the company’s stock valued at $474,718,000 after purchasing an additional 160,186 shares during the period. Royal Bank of Canada grew its position in Neogen by 5.7% in the 2nd quarter. Royal Bank of Canada now owns 512,059 shares of the company’s stock valued at $31,805,000 after purchasing an additional 27,809 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its position in Neogen by 37.2% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,598 shares of the company’s stock valued at $100,000 after purchasing an additional 433 shares during the period. Finally, Private Capital Group LLC grew its position in Neogen by 16.0% in the 2nd quarter. Private Capital Group LLC now owns 1,208 shares of the company’s stock valued at $97,000 after purchasing an additional 167 shares during the period. 89.83% of the stock is owned by institutional investors.

NASDAQ NEOG traded up $0.71 during mid-day trading on Wednesday, hitting $63.71. The company’s stock had a trading volume of 312 shares, compared to its average volume of 218,075. The company’s 50 day simple moving average is $70.68 and its 200 day simple moving average is $63.72. Neogen Co. has a twelve month low of $50.60 and a twelve month high of $79.83. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of 55.23, a PEG ratio of 5.27 and a beta of 1.40.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings data on Tuesday, September 24th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.01). Neogen had a net margin of 14.32% and a return on equity of 9.46%. The company had revenue of $101.42 million for the quarter, compared to the consensus estimate of $105.16 million. During the same quarter last year, the business posted $0.29 earnings per share. Neogen’s revenue was up 1.8% on a year-over-year basis. On average, analysts predict that Neogen Co. will post 1.22 earnings per share for the current fiscal year.

In other Neogen news, CEO John Edward Adent sold 31,489 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $69.03, for a total transaction of $2,173,685.67. Following the transaction, the chief executive officer now directly owns 44,302 shares in the company, valued at approximately $3,058,167.06. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Steven J. Quinlan sold 15,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $69.04, for a total value of $1,035,600.00. Following the transaction, the chief financial officer now owns 28,470 shares in the company, valued at $1,965,568.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 136,198 shares of company stock worth $9,252,039. Company insiders own 1.70% of the company’s stock.

Several analysts recently issued reports on NEOG shares. Zacks Investment Research downgraded shares of Neogen from a “hold” rating to a “sell” rating and set a $68.00 price target for the company. in a research report on Friday, June 21st. ValuEngine downgraded shares of Neogen from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Craig Hallum lifted their price target on shares of Neogen from $72.00 to $78.00 and gave the company an “in-line” rating in a research report on Wednesday, July 24th. Finally, BidaskClub downgraded shares of Neogen from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $73.00.

Neogen Company 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.

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Institutional Ownership by Quarter for Neogen (NASDAQ:NEOG)

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