Fred Alger Management Inc. Grows Holdings in Neogen Corporation (NEOG)
Fred Alger Management Inc. boosted its holdings in shares of Neogen Corporation (NASDAQ:NEOG) by 13.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 443,000 shares of the company’s stock after buying an additional 53,745 shares during the quarter. Fred Alger Management Inc. owned 1.16% of Neogen Corporation worth $30,616,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in NEOG. SG Americas Securities LLC acquired a new stake in shares of Neogen Corporation in the 2nd quarter valued at $154,000. Riverhead Capital Management LLC raised its holdings in shares of Neogen Corporation 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. Victory Capital Management Inc. raised its holdings in shares of Neogen Corporation by 53.0% in the 1st quarter. Victory Capital Management Inc. now owns 2,543 shares of the company’s stock valued at $167,000 after purchasing an additional 881 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Neogen Corporation in the 2nd quarter valued at $209,000. Finally, Creative Planning raised its holdings in shares of Neogen Corporation by 1.3% in the 2nd quarter. Creative Planning now owns 3,478 shares of the company’s stock valued at $240,000 after purchasing an additional 46 shares in the last quarter. Institutional investors own 86.10% of the company’s stock.
Shares of Neogen Corporation (NASDAQ:NEOG) traded up 0.17% during midday trading on Thursday, hitting $78.50. 60,755 shares of the stock were exchanged. The firm has a market cap of $3.00 billion, a P/E ratio of 65.97 and a beta of 1.52. The firm has a 50 day moving average of $70.87 and a 200 day moving average of $66.39. Neogen Corporation has a 12-month low of $50.53 and a 12-month high of $79.99.
Neogen Corporation (NASDAQ:NEOG) last posted its earnings results on Tuesday, September 19th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. Neogen Corporation had a net margin of 12.28% and a return on equity of 9.93%. The business had revenue of $95.30 million for the quarter, compared to analysts’ expectations of $94.87 million. During the same period in the previous year, the company posted $0.26 earnings per share. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. Equities analysts forecast that Neogen Corporation will post $1.31 EPS for the current fiscal year.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Neogen Corporation from a “hold” rating to a “sell” rating in a report on Friday, September 22nd. BidaskClub lowered shares of Neogen Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 18th. Finally, CL King assumed coverage on shares of Neogen Corporation in a report on Friday, July 14th. They issued a “neutral” rating on the stock.
In other news, VP Edward Bradley sold 20,000 shares of the business’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $76.79, for a total transaction of $1,535,800.00. Following the transaction, the vice president now directly owns 41,512 shares of the company’s stock, valued at $3,187,706.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider James L. Herbert sold 10,000 shares of the business’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $77.06, for a total transaction of $770,600.00. Following the transaction, the insider now directly owns 879,212 shares in the company, valued at $67,752,076.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 116,379 shares of company stock worth $8,440,572. Corporate insiders own 4.20% of the company’s stock.
Neogen Corporation 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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