GW&K Investment Management LLC lowered its position in shares of Neogen Corp. (NASDAQ:NEOG) by 1.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 188,190 shares of the company’s stock after selling 2,172 shares during the period. GW&K Investment Management LLC owned approximately 0.50% of Neogen Corp. worth $10,527,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Daiwa SB Investments Ltd. acquired a new stake in shares of Neogen Corp. during the third quarter worth approximately $593,000. Conestoga Capital Advisors LLC boosted its stake 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. purchased a new stake in shares of Neogen Corp. during the third quarter worth about $271,000. Mason Street Advisors LLC purchased a new stake in shares of Neogen Corp. during the second quarter worth about $413,000. Finally, Schwab Charles Investment Management Inc. boosted its stake 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. 85.00% of the stock is owned by institutional investors and hedge funds.
Neogen Corp. (NASDAQ:NEOG) opened at 67.88 on Friday. Neogen Corp. has a 1-year low of $43.79 and a 1-year high of $67.98. The stock has a market capitalization of $2.56 billion, a PE ratio of 69.27 and a beta of 1.55. The company’s 50-day moving average is $58.69 and its 200 day moving average is $56.23.
Neogen Corp. (NASDAQ:NEOG) last announced its quarterly earnings data on Tuesday, September 27th. The company reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. Neogen Corp. had a net margin of 11.25% and a return on equity of 9.36%. The business earned $83.65 million during the quarter. During the same quarter in the previous year, the firm posted $0.25 earnings per share. The business’s revenue was up 11.7% on a year-over-year basis. Equities analysts predict that Neogen Corp. will post $1.12 earnings per share for the current year.
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A number of analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Neogen Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday. Craig Hallum cut shares of Neogen Corp. from a “buy” rating to a “hold” rating in a research note on Monday, August 29th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Neogen Corp. presently has an average rating of “Hold” and a consensus price target of $58.25.
In other Neogen Corp. news, VP Terri A. Morrical sold 9,600 shares of Neogen Corp. stock in a transaction that occurred on Thursday, September 29th. The shares were sold at an average price of $54.14, for a total transaction of $519,744.00. Following the completion of the sale, the vice president now directly owns 44,384 shares in the company, valued at approximately $2,402,949.76. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James L. Herbert sold 1,000 shares of Neogen Corp. stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $62.95, for a total transaction of $62,950.00. Following the sale, the chief executive officer now owns 886,212 shares of the company’s stock, valued at $55,787,045.40. The disclosure for this sale can be found here. Company insiders own 4.70% of the company’s stock.
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.
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