Fairfield Bush & CO. lessened its stake in shares of Neogen Co. (NASDAQ:NEOG) by 7.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,657 shares of the company’s stock after selling 3,705 shares during the quarter. Neogen comprises 1.3% of Fairfield Bush & CO.’s portfolio, making the stock its 23rd largest holding. Fairfield Bush & CO. owned approximately 0.09% of Neogen worth $3,059,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of NEOG. ProShare Advisors LLC boosted its stake in Neogen by 14.8% in the fourth quarter. ProShare Advisors LLC now owns 9,646 shares of the company’s stock worth $629,000 after buying an additional 1,247 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in Neogen by 9.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 27,826 shares of the company’s stock valued at $1,864,000 after purchasing an additional 2,463 shares during the last quarter. SG Americas Securities LLC lifted its position in Neogen by 497.3% in the fourth quarter. SG Americas Securities LLC now owns 24,220 shares of the company’s stock valued at $1,581,000 after purchasing an additional 20,165 shares during the last quarter. Great West Life Assurance Co. Can bought a new stake in Neogen in the fourth quarter valued at approximately $4,200,000. Finally, Envestnet Asset Management Inc. lifted its position in Neogen by 2.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 82,181 shares of the company’s stock valued at $5,363,000 after purchasing an additional 2,021 shares during the last quarter. 92.96% of the stock is owned by institutional investors and hedge funds.

NEOG has been the subject of a number of recent analyst reports. Stephens began coverage on Neogen in a report on Monday, February 10th. They set an “overweight” rating and a $88.00 target price for the company. BidaskClub cut Neogen from a “buy” rating to a “hold” rating in a research note on Thursday, April 9th. Zacks Investment Research cut Neogen from a “hold” rating to a “sell” rating and set a $64.00 price objective on the stock. in a research report on Monday, March 2nd. Finally, TheStreet raised Neogen from a “c” rating to a “b-” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Neogen currently has an average rating of “Hold” and a consensus price target of $76.67.

In related news, CEO John Edward Adent bought 1,750 shares of the stock in a transaction dated Wednesday, March 25th. The shares were purchased at an average price of $58.24 per share, for a total transaction of $101,920.00. Following the completion of the purchase, the chief executive officer now directly owns 16,080 shares of the company’s stock, valued at $936,499.20. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James L. Herbert sold 20,000 shares of the company’s stock in a transaction dated Friday, April 3rd. The stock was sold at an average price of $63.16, for a total value of $1,263,200.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,253 shares of company stock worth $2,600,646. 1.70% of the stock is owned by company insiders.

Shares of NEOG stock traded up $0.32 on Wednesday, reaching $71.59. 11,049 shares of the company’s stock were exchanged, compared to its average volume of 189,154. Neogen Co. has a 52 week low of $48.91 and a 52 week high of $79.83. The stock has a market capitalization of $3.79 billion, a PE ratio of 64.79, a P/E/G ratio of 5.88 and a beta of 0.74. The company’s fifty day simple moving average is $65.48 and its 200 day simple moving average is $65.85.

Neogen (NASDAQ:NEOG) last released its quarterly earnings results on Tuesday, March 24th. The company reported $0.23 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.04). Neogen had a return on equity of 8.73% and a net margin of 14.07%. The company had revenue of $99.60 million during the quarter, compared to the consensus estimate of $102.42 million. During the same period in the previous year, the firm posted $0.25 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. Equities analysts predict that Neogen Co. will post 1.1 EPS for the current year.

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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