Prudential Financial Inc. boosted its stake in Neogen Corp. (NASDAQ:NEOG) by 3.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 93,015 shares of the company’s stock after buying an additional 3,220 shares during the period. Prudential Financial Inc. owned about 0.25% of Neogen Corp. worth $5,232,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Henderson Group PLC boosted its stake in Neogen Corp. by 57.6% in the second quarter. Henderson Group PLC now owns 573,997 shares of the company’s stock valued at $32,287,000 after buying an additional 209,783 shares during the period. Loomis Sayles & Co. L P boosted 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 valued at $20,797,000 after buying an additional 197,383 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Neogen Corp. by 19.3% in the second quarter. PNC Financial Services Group Inc. now owns 1,159,937 shares of the company’s stock valued at $65,246,000 after buying an additional 187,756 shares during the last quarter. Strs Ohio boosted its stake in shares of Neogen Corp. by 1,827.6% in the second quarter. Strs Ohio now owns 111,800 shares of the company’s stock valued at $6,288,000 after buying an additional 106,000 shares during the last quarter. Finally, Emerald Acquisition Ltd. bought a new stake in shares of Neogen Corp. during the second quarter valued at approximately $5,945,000. Institutional investors own 86.51% of the company’s stock.
Neogen Corp. (NASDAQ:NEOG) opened at 53.44 on Friday. Neogen Corp. has a 12 month low of $43.79 and a 12 month high of $61.24. The stock’s 50 day moving average price is $57.23 and its 200-day moving average price is $53.34. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 54.53 and a beta of 1.41.
Neogen Corp. (NASDAQ:NEOG) last posted its quarterly earnings results on Tuesday, September 27th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. Neogen Corp. had a return on equity of 9.36% and a net margin of 11.25%. The business had revenue of $83.65 million for the quarter. During the same quarter in the previous year, the business earned $0.25 earnings per share. Neogen Corp.’s revenue was up 11.7% compared to the same quarter last year. Equities analysts anticipate that Neogen Corp. will post $1.12 EPS for the current fiscal year.
NEOG has been the topic of several analyst reports. Zacks Investment Research cut Neogen Corp. from a “hold” rating to a “sell” rating in a report on Tuesday. Craig Hallum cut Neogen Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Neogen Corp. currently has a consensus rating of “Hold” and an average price target of $58.25.
In other news, CEO James L. Herbert sold 12,000 shares of Neogen Corp. stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $55.22, for a total value of $662,640.00. Following the sale, the chief executive officer now directly owns 886,045 shares in the company, valued at approximately $48,927,404.90. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Edward Bradley sold 20,196 shares of Neogen Corp. stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $55.60, for a total value of $1,122,897.60. Following the completion of the sale, the vice president now owns 126,730 shares in the company, valued at $7,046,188. The disclosure for this sale can be found here. Corporate insiders own 4.70% of the company’s stock.
About Neogen Corp.
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.