First Trust Advisors LP Has $976,000 Position in Neogen Corporation (NEOG)
First Trust Advisors LP raised its position in Neogen Corporation (NASDAQ:NEOG) by 78.2% during the first quarter, Holdings Channel reports. The firm owned 14,884 shares of the company’s stock after buying an additional 6,530 shares during the period. First Trust Advisors LP’s holdings in Neogen Corporation were worth $976,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Comerica Bank raised its position in shares of Neogen Corporation by 5.9% in the fourth quarter. Comerica Bank now owns 43,170 shares of the company’s stock worth $2,862,000 after buying an additional 2,409 shares during the period. Renaissance Technologies LLC raised its position in shares of Neogen Corporation by 0.9% in the fourth quarter. Renaissance Technologies LLC now owns 162,500 shares of the company’s stock worth $10,725,000 after buying an additional 1,500 shares during the period. Russell Investments Group Ltd. acquired a new position in shares of Neogen Corporation during the fourth quarter worth approximately $3,382,000. Trexquant Investment LP acquired a new position in shares of Neogen Corporation during the fourth quarter worth approximately $306,000. Finally, State of Alaska Department of Revenue raised its position in shares of Neogen Corporation by 3.4% in the first quarter. State of Alaska Department of Revenue now owns 4,210 shares of the company’s stock worth $275,000 after buying an additional 140 shares during the period. Institutional investors own 86.37% of the company’s stock.
Shares of Neogen Corporation (NEOG) opened at 68.20 on Monday. Neogen Corporation has a 52-week low of $50.35 and a 52-week high of $69.41. The stock’s 50 day moving average price is $63.95 and its 200-day moving average price is $64.45. The company has a market capitalization of $2.60 billion, a PE ratio of 63.15 and a beta of 1.61.
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A number of research analysts have recently commented on NEOG shares. Zacks Investment Research upgraded Neogen Corporation from a “hold” rating to a “buy” rating and set a $73.00 price target for the company in a report on Thursday, March 23rd. BidaskClub upgraded Neogen Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th.
In related news, CFO Steven J. Quinlan sold 2,676 shares of Neogen Corporation stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $63.68, for a total transaction of $170,407.68. Following the completion of the sale, the chief financial officer now directly owns 12,779 shares of the company’s stock, valued at approximately $813,766.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO James L. Herbert sold 8,107 shares of Neogen Corporation stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $62.01, for a total value of $502,715.07. Following the sale, the chief executive officer now directly owns 890,319 shares of the company’s stock, valued at $55,208,681.19. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,270 shares of company stock valued at $5,587,485. 4.70% of the stock is currently owned by insiders.
About Neogen Corporation
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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