Envestnet Asset Management Inc. cut its position in Neogen Co. (NASDAQ:NEOG) by 7.4% during the first quarter, Holdings Channel reports. The firm owned 59,400 shares of the company’s stock after selling 4,738 shares during the period. Envestnet Asset Management Inc. owned approximately 0.16% of Neogen worth $3,894,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of NEOG. Advisor Group Inc. increased its stake in shares of Neogen by 7.3% in the third quarter. Advisor Group Inc. now owns 2,286 shares of the company’s stock worth $128,000 after buying an additional 155 shares during the period. SG Americas Securities LLC bought a new stake in shares of Neogen during the third quarter worth about $222,000. Raymond James Trust N.A. bought a new stake in shares of Neogen during the first quarter worth about $226,000. Bell State Bank & Trust increased its stake in shares of Neogen by 3.7% in the third quarter. Bell State Bank & Trust now owns 4,681 shares of the company’s stock worth $262,000 after buying an additional 165 shares during the period. Finally, Bayesian Capital Management LP bought a new stake in shares of Neogen during the fourth quarter worth about $271,000. 83.47% of the stock is owned by institutional investors and hedge funds.
Neogen Co. (NASDAQ:NEOG) traded down 0.36% during trading on Friday, hitting $61.08. The stock had a trading volume of 251,973 shares. The stock’s 50-day moving average is $62.01 and its 200 day moving average is $63.48. Neogen Co. has a one year low of $47.97 and a one year high of $69.09. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 56.56 and a beta of 1.55.
Neogen (NASDAQ:NEOG) last posted its quarterly earnings results on Tuesday, March 21st. The company reported $0.27 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.27. Neogen had a return on equity of 9.54% and a net margin of 11.49%. The firm had revenue of $88.40 million during the quarter, compared to the consensus estimate of $89.41 million. During the same quarter in the previous year, the business earned $0.22 earnings per share. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. Equities analysts anticipate that Neogen Co. will post $1.14 earnings per share for the current year.
Separately, Zacks Investment Research downgraded Neogen from a “buy” rating to a “hold” rating in a research note on Tuesday, March 14th.
In other news, CFO Steven J. Quinlan sold 2,676 shares of the company’s stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $63.68, for a total value of $170,407.68. Following the completion of the sale, the chief financial officer now owns 12,779 shares of the company’s stock, valued at $813,766.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Edward Bradley sold 21,018 shares of the company’s stock in a transaction dated Thursday, April 6th. The stock was sold at an average price of $61.54, for a total value of $1,293,447.72. Following the completion of the sale, the vice president now directly owns 101,512 shares of the company’s stock, valued at approximately $6,247,048.48. The disclosure for this sale can be found here. Insiders sold 80,270 shares of company stock valued at $4,937,235 in the last ninety days. Company insiders own 4.70% of the company’s stock.
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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