Neogen Co. (NEOG) Holdings Boosted by Sterling Capital Management LLC

Sterling Capital Management LLC grew its stake in shares of Neogen Co. (NASDAQ:NEOG) by 15.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,014 shares of the company’s stock after buying an additional 3,009 shares during the period. Sterling Capital Management LLC owned approximately 0.06% of Neogen worth $1,705,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of NEOG. SG Americas Securities LLC bought a new position in Neogen during the second quarter worth about $154,000. Riverhead Capital Management LLC boosted its holdings in Neogen by 91.4% during the second 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. Bell Bank bought a new position in Neogen during the third quarter worth about $201,000. Parametrica Management Ltd bought a new position in Neogen during the third quarter worth about $202,000. Finally, Victory Capital Management Inc. boosted its holdings in Neogen by 17.5% during the second 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. Hedge funds and other institutional investors own 87.06% of the company’s stock.

In related news, VP Edward Bradley sold 38,876 shares of Neogen stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $71.28, for a total value of $2,771,081.28. Following the sale, the vice president now owns 83,712 shares of the company’s stock, valued at approximately $5,966,991.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider James L. Herbert sold 26,000 shares of Neogen stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $81.45, for a total value of $2,117,700.00. Following the completion of the sale, the insider now directly owns 879,430 shares in the company, valued at approximately $71,629,573.50. The disclosure for this sale can be found here. In the last three months, insiders sold 173,034 shares of company stock worth $13,316,509. 4.20% of the stock is owned by insiders.

Several equities analysts have recently weighed in on NEOG shares. Zacks Investment Research cut Neogen from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. Craig Hallum lifted their price objective on Neogen from $62.00 to $80.00 and gave the company a “hold” rating in a report on Thursday, December 7th. Finally, Roth Capital started coverage on Neogen in a report on Tuesday, December 5th. They set a “neutral” rating and a $82.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, Neogen currently has an average rating of “Hold” and an average price target of $85.00.

Neogen Co. (NASDAQ:NEOG) opened at $81.44 on Tuesday. Neogen Co. has a 1-year low of $59.51 and a 1-year high of $85.89. The firm has a market capitalization of $3,110.41, a PE ratio of 68.42, a PEG ratio of 4.14 and a beta of 1.54.

Neogen’s stock is going to split on the morning of Tuesday, January 2nd. The 4-3 split was announced on Friday, December 8th. The newly created shares will be distributed to shareholders after the market closes on Friday, December 29th.

Neogen (NASDAQ:NEOG) last released its quarterly earnings data on Tuesday, September 19th. The company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.01. Neogen had a return on equity of 9.93% and a net margin of 12.28%. The business had revenue of $95.30 million for the quarter, compared to analysts’ expectations of $94.87 million. During the same quarter in the previous year, the business posted $0.26 EPS. Neogen’s revenue for the quarter was up 14.0% on a year-over-year basis. equities analysts expect that Neogen Co. will post 1.31 earnings per share for the current year.

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

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