Ellis Investment Partners LLC bought a new position in Neogen Co. (NASDAQ:NEOG) in the first quarter, HoldingsChannel.com reports. The institutional investor bought 40,173 shares of the company’s stock, valued at approximately $40,000.
Several other institutional investors have also bought and sold shares of the business. First Hawaiian Bank bought a new stake in shares of Neogen in the fourth quarter worth $26,000. Captrust Financial Advisors grew its holdings in shares of Neogen by 47.0% in the fourth quarter. Captrust Financial Advisors now owns 970 shares of the company’s stock worth $55,000 after acquiring an additional 310 shares during the period. South Dakota Investment Council bought a new stake in shares of Neogen in the fourth quarter worth $74,000. We Are One Seven LLC bought a new stake in shares of Neogen in the fourth quarter worth $85,000. Finally, First Manhattan Co. bought a new stake in shares of Neogen in the fourth quarter worth $114,000. 88.88% of the stock is owned by institutional investors and hedge funds.
In other Neogen news, Director James L. Herbert sold 23,419 shares of the business’s stock in a transaction dated Wednesday, January 30th. The stock was sold at an average price of $59.06, for a total transaction of $1,383,126.14. Following the completion of the sale, the director now owns 706,484 shares of the company’s stock, valued at $41,724,945.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven J. Quinlan sold 4,800 shares of the business’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $62.50, for a total value of $300,000.00. The disclosure for this sale can be found here. Insiders have sold 94,364 shares of company stock valued at $5,491,339 in the last three months. 3.00% of the stock is currently owned by corporate insiders.
NASDAQ:NEOG opened at $59.22 on Monday. Neogen Co. has a 52-week low of $50.60 and a 52-week high of $97.38. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of 48.94, a P/E/G ratio of 5.19 and a beta of 1.33.
Neogen (NASDAQ:NEOG) last released its quarterly earnings results on Tuesday, March 26th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.02). Neogen had a net margin of 14.96% and a return on equity of 10.48%. The company had revenue of $97.70 million for the quarter, compared to the consensus estimate of $102.55 million. During the same period in the prior year, the firm posted $0.32 EPS. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities research analysts expect that Neogen Co. will post 1.14 EPS for the current fiscal year.
Several brokerages recently commented on NEOG. Zacks Investment Research lowered Neogen from a “hold” rating to a “sell” rating in a report on Wednesday, April 10th. ValuEngine raised Neogen from a “hold” rating to a “buy” rating in a report on Thursday, January 24th. BidaskClub lowered Neogen from a “sell” rating to a “strong sell” rating in a report on Saturday, March 9th. Finally, Craig Hallum raised Neogen from a “hold” rating to a “buy” rating and set a $62.76 price objective for the company in a report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Neogen has an average rating of “Hold” and a consensus price target of $62.76.
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Neogen Corporation, together with its subsidiaries, develops, manufactures, and markets various products for food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment primarily offers diagnostic test kits and complementary to detect dangerous and/or unintended substances in human food and animal feed, such as foodborne pathogens, spoilage organisms, natural toxins, food allergens, genetic modifications, ruminant by-products, meat speciation, drug residues, pesticide residues, and general sanitation concerns; and AccuPoint Advanced rapid sanitation test for adenosine triphosphate, a chemical found in living cells.
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