Dimensional Fund Advisors LP Sells 82,645 Shares of Neogen Co. (NEOG)
Dimensional Fund Advisors LP lowered its stake in shares of Neogen Co. (NASDAQ:NEOG) by 12.8% in the third quarter, Holdings Channel reports. The institutional investor owned 563,814 shares of the company’s stock after selling 82,645 shares during the period. Dimensional Fund Advisors LP’s holdings in Neogen were worth $43,673,000 as of its most recent filing with the SEC.
Several other hedge funds and 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 in the 2nd quarter valued at about $154,000. Riverhead Capital Management LLC increased its stake in shares of Neogen by 91.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,297 shares of the company’s stock valued at $159,000 after purchasing an additional 1,097 shares in the last quarter. Parametrica Management Ltd purchased a new position in shares of Neogen in the 3rd quarter valued at about $202,000. Arcadia Investment Management Corp MI purchased a new position in shares of Neogen in the 3rd quarter valued at about $230,000. Finally, Victory Capital Management Inc. increased its stake in shares of Neogen by 17.5% in the 2nd quarter. Victory Capital Management Inc. now owns 2,989 shares of the company’s stock valued at $207,000 after purchasing 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, CFO Steven J. Quinlan sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $80.26, for a total transaction of $321,040.00. Following the completion of the sale, the chief financial officer now directly owns 14,103 shares in the company, valued at approximately $1,131,906.78. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider James L. Herbert sold 26,000 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $81.45, for a total value of $2,117,700.00. Following the sale, the insider now owns 879,430 shares of the company’s stock, valued at $71,629,573.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,824 shares of company stock valued at $3,870,364. 4.20% of the stock is owned by company insiders.
Neogen Co. (NASDAQ NEOG) opened at $59.42 on Wednesday. Neogen Co. has a 52 week low of $44.63 and a 52 week high of $64.42. The firm has a market capitalization of $3,072.81, a PE ratio of 59.12, a P/E/G ratio of 3.81 and a beta of 1.54.
Neogen (NASDAQ:NEOG) last posted its quarterly earnings data on Wednesday, January 3rd. The company reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.07. Neogen had a return on equity of 10.72% and a net margin of 13.47%. The company had revenue of $101.80 million during the quarter, compared to analyst estimates of $102.46 million. During the same period in the previous year, the business earned $0.29 EPS. Neogen’s quarterly revenue was up 12.2% on a year-over-year basis. analysts forecast that Neogen Co. will post 1.04 earnings per share for the current year.
NEOG has been the subject of several recent analyst reports. Zacks Investment Research upgraded Neogen from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research note on Wednesday, October 11th. Roth Capital set a $62.00 price target on Neogen and gave the company a “hold” rating in a research note on Thursday, January 4th. Finally, Craig Hallum lifted their price target on Neogen from $46.50 to $60.00 and gave the company a “hold” rating in a research note on Thursday, December 7th. Four research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $63.67.
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Neogen Company 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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