Wells Fargo & Company MN increased its stake in Neogen Co. (NASDAQ:NEOG) by 83.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 533,946 shares of the company’s stock after purchasing an additional 243,188 shares during the quarter. Wells Fargo & Company MN’s holdings in Neogen were worth $24,584,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the business. AQR Capital Management LLC boosted its position in Neogen by 15.2% during the first quarter. AQR Capital Management LLC now owns 22,702 shares of the company’s stock valued at $1,997,000 after buying an additional 2,990 shares during the period. Jane Street Group LLC grew its holdings in shares of Neogen by 43.7% during the first quarter. Jane Street Group LLC now owns 6,085 shares of the company’s stock valued at $541,000 after buying an additional 1,850 shares during the last quarter. Morgan Stanley boosted its holdings in Neogen by 8.7% in the first quarter. Morgan Stanley now owns 107,550 shares of the company’s stock worth $9,561,000 after purchasing an additional 8,574 shares during the last quarter. Eaton Vance Management boosted its holdings in Neogen by 4.5% in the first quarter. Eaton Vance Management now owns 5,899 shares of the company’s stock worth $524,000 after purchasing an additional 256 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG boosted its holdings in Neogen by 12.0% in the first quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 20,013 shares of the company’s stock worth $1,779,000 after purchasing an additional 2,138 shares during the last quarter. 92.20% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director James P. Tobin purchased 1,000 shares of Neogen stock in a transaction on Thursday, September 23rd. The shares were bought at an average cost of $42.92 per share, for a total transaction of $42,920.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Steven J. Quinlan sold 5,700 shares of Neogen stock in a transaction on Wednesday, September 29th. The stock was sold at an average price of $44.05, for a total transaction of $251,085.00. The disclosure for this sale can be found here. 0.52% of the stock is owned by company insiders.
Neogen (NASDAQ:NEOG) last announced its quarterly earnings data on Monday, September 20th. The company reported $0.16 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.16. The firm had revenue of $128.30 million for the quarter, compared to the consensus estimate of $121.20 million. Neogen had a net margin of 12.74% and a return on equity of 7.57%. The company’s revenue was up 17.4% on a year-over-year basis. During the same period last year, the firm earned $0.30 EPS. Analysts predict that Neogen Co. will post 0.66 earnings per share for the current year.
Separately, Zacks Investment Research downgraded shares of Neogen from a “buy” rating to a “hold” rating and set a $45.00 price target on the stock. in a research report on Monday, September 27th.
Neogen Corp. engages in the development, manufacture, and sale of products dedicated to food and animal safety. It operates through the following segments: Food Safety and Animal Safety. The Food Safety segment consists of diagnostic test kits and related products used by food producers and processors to detect harmful natural toxins, foodborne bacteria, allergens, drug residues, and levels of general sanitation.
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