Mason Street Advisors LLC acquired a new position in Neogen Corp. (NASDAQ:NEOG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,336 shares of the company’s stock, valued at approximately $413,000.
Several other hedge funds have also made changes to their positions in the company. Kennedy Capital Management Inc. raised its stake in shares of Neogen Corp. by 2.6% in the first quarter. Kennedy Capital Management Inc. now owns 31,621 shares of the company’s stock worth $1,592,000 after buying an additional 790 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Neogen Corp. by 5.6% in the first quarter. Geode Capital Management LLC now owns 257,398 shares of the company’s stock worth $12,959,000 after buying an additional 13,715 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in shares of Neogen Corp. by 91.5% in the first quarter. Loomis Sayles & Co. L P now owns 413,041 shares of the company’s stock worth $20,797,000 after buying an additional 197,383 shares in the last quarter. State Street Corp raised its stake in shares of Neogen Corp. by 3.2% in the first quarter. State Street Corp now owns 759,676 shares of the company’s stock worth $38,252,000 after buying an additional 23,679 shares in the last quarter. Finally, Huntington Asset Advisors Inc. acquired a new stake in shares of Neogen Corp. during the first quarter worth approximately $1,142,000. 86.79% of the stock is currently owned by institutional investors and hedge funds.
Shares of Neogen Corp. (NASDAQ:NEOG) opened at 55.33 on Thursday. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 56.46 and a beta of 1.41. Neogen Corp. has a 52-week low of $43.79 and a 52-week high of $61.24. The firm’s 50-day moving average is $57.65 and its 200 day moving average is $53.15.
Neogen Corp. (NASDAQ:NEOG) last issued its earnings results on Tuesday, September 27th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.26. The business earned $83.65 million during the quarter. Neogen Corp. had a return on equity of 9.36% and a net margin of 11.25%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 EPS. On average, equities research analysts anticipate that Neogen Corp. will post $1.12 earnings per share for the current year.
A number of brokerages have recently commented on NEOG. Craig Hallum lowered shares of Neogen Corp. from a “buy” rating to a “hold” rating in a research report on Monday, August 29th. Zacks Investment Research raised shares of Neogen Corp. from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research report on Tuesday, September 27th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. Neogen Corp. currently has an average rating of “Hold” and an average price target of $58.25.
In other Neogen Corp. news, CEO James L. Herbert sold 8,393 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $55.13, for a total value of $462,706.09. Following the completion of the sale, the chief executive officer now owns 906,175 shares in the company, valued at $49,957,427.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven J. Quinlan sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $55.15, for a total value of $165,450.00. Following the completion of the sale, the chief financial officer now owns 13,103 shares of the company’s stock, valued at approximately $722,630.45. The disclosure for this sale can be found here. 4.70% of the stock is owned by company insiders.
Neogen Corp. Company Profile
Neogen Corporation develops, manufactures and markets a diverse line of products dedicated to food and animal safety. The Company has two segments: Food Safety and Animal Safety. The Food Safety segment is engaged in the development, production and marketing of 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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