MetLife Investment Advisors LLC raised its position in Neogen Co. (NASDAQ:NEOG) by 3.9% during the second quarter, HoldingsChannel reports. The firm owned 22,979 shares of the company’s stock after purchasing an additional 861 shares during the period. MetLife Investment Advisors LLC’s holdings in Neogen were worth $1,843,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Wells Fargo & Company MN increased its stake in shares of Neogen by 85.2% in the 1st quarter. Wells Fargo & Company MN now owns 342,166 shares of the company’s stock worth $22,921,000 after acquiring an additional 157,425 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of Neogen by 48.1% in the 1st quarter. Prudential Financial Inc. now owns 93,785 shares of the company’s stock worth $6,283,000 after acquiring an additional 30,440 shares during the last quarter. Swiss National Bank increased its stake in shares of Neogen by 35.9% in the 1st quarter. Swiss National Bank now owns 88,566 shares of the company’s stock worth $5,933,000 after acquiring an additional 23,416 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Neogen by 39.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 250,957 shares of the company’s stock worth $16,812,000 after acquiring an additional 71,467 shares during the last quarter. Finally, American International Group Inc. increased its stake in shares of Neogen by 8.2% in the 1st quarter. American International Group Inc. now owns 32,070 shares of the company’s stock worth $2,148,000 after acquiring an additional 2,424 shares during the last quarter. Institutional investors own 89.47% of the company’s stock.

Shares of NEOG opened at $88.68 on Tuesday. Neogen Co. has a 52-week low of $53.64 and a 52-week high of $97.38. The firm has a market capitalization of $4.63 billion, a price-to-earnings ratio of 73.29 and a beta of 1.36.

Neogen (NASDAQ:NEOG) last issued its earnings results on Tuesday, July 17th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The business had revenue of $109.29 million during the quarter, compared to the consensus estimate of $108.11 million. Neogen had a return on equity of 11.97% and a net margin of 15.70%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the company earned $0.24 EPS. sell-side analysts anticipate that Neogen Co. will post 1.24 earnings per share for the current fiscal year.

NEOG has been the subject of a number of recent research reports. BidaskClub downgraded Neogen from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 20th. Craig Hallum raised their target price on Neogen from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Wednesday, July 18th. Zacks Investment Research downgraded Neogen from a “hold” rating to a “sell” rating in a research note on Thursday, May 31st. Finally, ValuEngine raised Neogen from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Neogen presently has an average rating of “Hold” and an average price target of $67.75.

In related news, Director Jack C. Parnell sold 2,418 shares of the firm’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $83.97, for a total transaction of $203,039.46. Following the completion of the sale, the director now directly owns 14,073 shares of the company’s stock, valued at approximately $1,181,709.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas H. Reed sold 5,333 shares of the firm’s stock in a transaction dated Friday, July 20th. The stock was sold at an average price of $82.56, for a total value of $440,292.48. Following the sale, the director now directly owns 8,040 shares of the company’s stock, valued at $663,782.40. The disclosure for this sale can be found here. Insiders have sold a total of 281,450 shares of company stock valued at $23,364,113 over the last three months. Corporate insiders own 3.00% of the company’s stock.

About Neogen

Neogen Corporation, together with its subsidiaries, develops, manufactures, and markets various products for food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment primarily offers diagnostic test kits and complementary to detect dangerous and/or unintended substances in human food and animal feed, such as foodborne pathogens, spoilage organisms, natural toxins, food allergens, genetic modifications, ruminant by-products, meat speciation, drug residues, pesticide residues, and general sanitation concerns; and AccuPoint Advanced rapid sanitation test for adenosine triphosphate, a chemical found in living cells.

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Institutional Ownership by Quarter for Neogen (NASDAQ:NEOG)

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