Private Trust Co. NA decreased its position in Neogen Corp. (NASDAQ:NEOG) by 1.9% during the third quarter, Holdings Channel reports. The firm owned 43,514 shares of the company’s stock after selling 824 shares during the period. Private Trust Co. NA’s holdings in Neogen Corp. were worth $2,434,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Daiwa SB Investments Ltd. acquired a new position in shares of Neogen Corp. during the third quarter worth about $593,000. Conestoga Capital Advisors LLC raised its position in shares of Neogen Corp. by 12.3% in the third quarter. Conestoga Capital Advisors LLC now owns 877,779 shares of the company’s stock worth $49,103,000 after buying an additional 96,293 shares during the period. Eqis Capital Management Inc. acquired a new position in shares of Neogen Corp. during the third quarter worth about $271,000. Mason Street Advisors LLC acquired a new position in shares of Neogen Corp. during the second quarter worth about $413,000. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Neogen Corp. by 1.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 132,039 shares of the company’s stock worth $7,428,000 after buying an additional 2,334 shares during the period. Institutional investors own 85.00% of the company’s stock.
Shares of Neogen Corp. (NASDAQ:NEOG) traded down 0.25% during mid-day trading on Monday, hitting $62.87. The stock had a trading volume of 169,751 shares. Neogen Corp. has a 12-month low of $43.79 and a 12-month high of $63.40. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 64.15 and a beta of 1.50. The firm’s 50-day moving average price is $55.99 and its 200 day moving average price is $55.31.
Neogen Corp. (NASDAQ:NEOG) last released its earnings results on Tuesday, September 27th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. The business had revenue of $83.65 million for the quarter. Neogen Corp. had a return on equity of 9.36% and a net margin of 11.25%. Neogen Corp.’s revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 EPS. Equities analysts forecast that Neogen Corp. will post $1.12 EPS for the current fiscal year.
A number of brokerages have issued reports on NEOG. Zacks Investment Research lowered Neogen Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, October 11th. Craig Hallum lowered Neogen Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $58.25.
In related news, VP Terri A. Morrical sold 9,600 shares of Neogen Corp. stock in a transaction dated Thursday, September 29th. The stock was sold at an average price of $54.14, for a total value of $519,744.00. Following the sale, the vice president now owns 44,384 shares of the company’s stock, valued at $2,402,949.76. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Edward Bradley sold 21,600 shares of Neogen Corp. stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $61.16, for a total value of $1,321,056.00. Following the completion of the sale, the vice president now directly owns 144,130 shares in the company, valued at approximately $8,814,990.80. The disclosure for this sale can be found here. 4.70% of the stock is owned by corporate insiders.
Neogen Corp. 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.