Bank of Montreal Can Increases Holdings in Neogen Co. (NASDAQ:NEOG)

Bank of Montreal Can increased its stake in shares of Neogen Co. (NASDAQ:NEOG) by 80.1% during the 2nd quarter, Holdings Channel reports. The fund owned 89,671 shares of the company’s stock after purchasing an additional 39,889 shares during the quarter. Bank of Montreal Can’s holdings in Neogen were worth $4,175,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. The Manufacturers Life Insurance Company grew its holdings in Neogen by 98.6% in the second quarter. The Manufacturers Life Insurance Company now owns 175,249 shares of the company’s stock valued at $8,068,000 after purchasing an additional 86,998 shares during the period. Ergoteles LLC acquired a new stake in shares of Neogen in the second quarter worth approximately $668,000. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Neogen by 58.9% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 840,196 shares of the company’s stock worth $38,917,000 after acquiring an additional 311,408 shares during the last quarter. Xponance Inc. boosted its stake in shares of Neogen by 181.7% in the second quarter. Xponance Inc. now owns 18,026 shares of the company’s stock worth $830,000 after acquiring an additional 11,628 shares during the last quarter. Finally, Private Harbour Investment Management & Counsel LLC boosted its stake in shares of Neogen by 71.9% in the second quarter. Private Harbour Investment Management & Counsel LLC now owns 18,412 shares of the company’s stock worth $848,000 after acquiring an additional 7,702 shares during the last quarter. 92.00% of the stock is currently owned by institutional investors.

NEOG stock opened at $40.97 on Thursday. The company has a market capitalization of $4.40 billion, a PE ratio of 71.25 and a beta of 0.51. Neogen Co. has a 12-month low of $33.83 and a 12-month high of $48.85. The business’s fifty day moving average price is $42.83 and its 200 day moving average price is $36.89.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings data on Monday, September 20th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.16. Neogen had a return on equity of 7.67% and a net margin of 13.00%. The firm had revenue of $128.30 million for the quarter, compared to the consensus estimate of $121.20 million. During the same quarter in the previous year, the business earned $0.30 EPS. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. Sell-side analysts expect that Neogen Co. will post 0.67 EPS for the current fiscal year.

A number of analysts have recently issued reports on NEOG shares. TheStreet raised Neogen from a “c” rating to a “b-” rating in a research note on Thursday, July 8th. Zacks Investment Research downgraded Neogen from a “buy” rating to a “hold” rating and set a $45.00 price objective on the stock. in a research report on Monday, September 27th.

In other news, CFO Steven J. Quinlan sold 5,700 shares of the business’s stock in a transaction dated Wednesday, September 29th. The stock was sold at an average price of $44.05, for a total value of $251,085.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James P. Tobin bought 1,000 shares of Neogen stock in a transaction dated Thursday, September 23rd. The stock was purchased at an average cost of $42.92 per share, with a total value of $42,920.00. The disclosure for this purchase can be found here. Insiders own 0.52% of the company’s stock.

About Neogen

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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Institutional Ownership by Quarter for Neogen (NASDAQ:NEOG)

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