Neuberger Berman Group LLC Sells 824 Shares of Neogen Co. (NEOG)

Neuberger Berman Group LLC lessened its stake in Neogen Co. (NASDAQ:NEOG) by 0.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 521,688 shares of the company’s stock after selling 824 shares during the period. Neuberger Berman Group LLC owned about 1.37% of Neogen worth $40,410,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in shares of Neogen during the 2nd quarter valued at approximately $154,000. Riverhead Capital Management LLC lifted its position in shares of Neogen by 91.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,297 shares of the company’s stock valued at $159,000 after buying an additional 1,097 shares in the last quarter. Bell Bank purchased a new position in shares of Neogen during the 3rd quarter valued at approximately $201,000. Parametrica Management Ltd purchased a new position in shares of Neogen during the 3rd quarter valued at approximately $202,000. Finally, Victory Capital Management Inc. lifted its position in shares of Neogen by 17.5% during the 2nd quarter. Victory Capital Management Inc. now owns 2,989 shares of the company’s stock valued at $207,000 after buying an additional 446 shares in the last quarter. Institutional investors and hedge funds own 86.96% of the company’s stock.

In other Neogen news, VP Edward Bradley sold 20,000 shares of the firm’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $76.79, for a total value of $1,535,800.00. Following the transaction, the vice president now owns 41,512 shares in the company, valued at approximately $3,187,706.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven J. Quinlan sold 2,772 shares of the firm’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $73.54, for a total value of $203,852.88. Following the completion of the transaction, the chief financial officer now owns 12,875 shares in the company, valued at approximately $946,827.50. The disclosure for this sale can be found here. Insiders sold a total of 134,158 shares of company stock worth $10,545,427 in the last 90 days. 4.20% of the stock is currently owned by insiders.

A number of research analysts have recently issued reports on the company. Zacks Investment Research lowered Neogen from a “hold” rating to a “sell” rating in a research report on Friday, September 22nd. Craig Hallum increased their target price on Neogen from $62.00 to $80.00 and gave the company a “hold” rating in a research report on Thursday, December 7th. Finally, Roth Capital assumed coverage on Neogen in a research report on Tuesday, December 5th. They set a “neutral” rating and a $82.00 target price on the stock. Five analysts have rated the stock with a hold rating, Neogen currently has an average rating of “Hold” and a consensus target price of $85.00.

Neogen Co. (NASDAQ NEOG) opened at $79.93 on Wednesday. The firm has a market capitalization of $3,111.16, a price-to-earnings ratio of 68.44, a price-to-earnings-growth ratio of 4.14 and a beta of 1.54. Neogen Co. has a fifty-two week low of $59.51 and a fifty-two week high of $85.89.

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

Neogen (NASDAQ:NEOG) last announced its quarterly earnings data on Tuesday, September 19th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. The company had revenue of $95.30 million for the quarter, compared to analyst estimates of $94.87 million. Neogen had a return on equity of 9.93% and a net margin of 12.28%. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 EPS. analysts forecast 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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