Conestoga Capital Advisors LLC Raises Holdings in Neogen Corporation (NEOG)

Conestoga Capital Advisors LLC boosted its holdings in shares of Neogen Corporation (NASDAQ:NEOG) by 20.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 958,784 shares of the company’s stock after acquiring an additional 161,170 shares during the period. Neogen Corporation comprises about 3.3% of Conestoga Capital Advisors LLC’s portfolio, making the stock its 2nd largest position. Conestoga Capital Advisors LLC owned approximately 2.51% of Neogen Corporation worth $74,267,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. SG Americas Securities LLC purchased a new position in Neogen Corporation during the 2nd quarter worth approximately $154,000. Riverhead Capital Management LLC raised its position in Neogen Corporation by 91.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,297 shares of the company’s stock worth $159,000 after buying an additional 1,097 shares during the last quarter. Parametrica Management Ltd purchased a new position in Neogen Corporation during the 3rd quarter worth approximately $202,000. Arcadia Investment Management Corp MI purchased a new position in Neogen Corporation during the 3rd quarter worth approximately $230,000. Finally, Victory Capital Management Inc. raised its position in Neogen Corporation by 17.5% during the 2nd quarter. Victory Capital Management Inc. now owns 2,989 shares of the company’s stock worth $207,000 after buying an additional 446 shares during the last quarter. Institutional investors own 86.54% of the company’s stock.

Neogen Corporation (NEOG) traded down 0.50% during midday trading on Wednesday, reaching $79.80. 29,321 shares of the company were exchanged. The company has a 50 day moving average of $76.84 and a 200-day moving average of $68.52. Neogen Corporation has a 52-week low of $50.53 and a 52-week high of $81.52. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of 67.06 and a beta of 1.52.

Neogen Corporation (NASDAQ:NEOG) last released its quarterly earnings data on Tuesday, September 19th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.01. The firm had revenue of $95.30 million during the quarter, compared to analysts’ expectations of $94.87 million. Neogen Corporation had a return on equity of 9.93% and a net margin of 12.28%. Neogen Corporation’s revenue was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.26 earnings per share. On average, equities research analysts anticipate that Neogen Corporation will post $1.32 earnings per share for the current fiscal year.

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In other news, Director Ronald D. Green sold 4,333 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $68.49, for a total value of $296,767.17. Following the transaction, the director now directly owns 3,333 shares in the company, valued at approximately $228,277.17. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Steven J. Quinlan sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $68.68, for a total value of $274,720.00. Following the completion of the transaction, the vice president now owns 14,103 shares in the company, valued at $968,594.04. The disclosure for this sale can be found here. Insiders sold 157,543 shares of company stock valued at $11,739,808 in the last quarter. 4.20% of the stock is currently owned by company insiders.

Several equities analysts have recently weighed in on NEOG shares. CL King started coverage on shares of Neogen Corporation in a report on Friday, July 14th. They set a “neutral” rating for the company. Zacks Investment Research raised shares of Neogen Corporation from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a report on Thursday, July 20th. Finally, BidaskClub lowered shares of Neogen Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th.

About Neogen Corporation

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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Institutional Ownership by Quarter for Neogen Corporation (NASDAQ:NEOG)

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