Neogen Corporation (NEOG) Stake Raised by American International Group Inc.
American International Group Inc. lifted its holdings in Neogen Corporation (NASDAQ:NEOG) by 5.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,523 shares of the company’s stock after buying an additional 1,601 shares during the quarter. American International Group Inc. owned approximately 0.08% of Neogen worth $2,287,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Wasatch Advisors Inc. purchased a new stake in shares of Neogen in the third quarter worth approximately $11,016,000. Ameriprise Financial Inc. raised its holdings in shares of Neogen by 9.2% in the third quarter. Ameriprise Financial Inc. now owns 406,464 shares of the company’s stock worth $31,486,000 after buying an additional 34,188 shares during the period. SG Americas Securities LLC raised its holdings in shares of Neogen by 728.7% in the third quarter. SG Americas Securities LLC now owns 18,431 shares of the company’s stock worth $1,428,000 after buying an additional 16,207 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Neogen by 4.5% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 25,764 shares of the company’s stock worth $1,996,000 after buying an additional 1,109 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in shares of Neogen by 3.0% in the third quarter. Russell Investments Group Ltd. now owns 33,512 shares of the company’s stock worth $2,596,000 after buying an additional 979 shares during the period. Hedge funds and other institutional investors own 87.06% of the company’s stock.
In related news, CFO Steven J. Quinlan sold 2,772 shares of the stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $73.54, for a total value of $203,852.88. Following the transaction, the chief financial officer now owns 12,875 shares of the company’s stock, valued at $946,827.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Edward Bradley sold 13,628 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $70.06, for a total value of $954,777.68. Following the completion of the transaction, the vice president now directly owns 71,691 shares in the company, valued at approximately $5,022,671.46. The disclosure for this sale can be found here. In the last three months, insiders sold 186,662 shares of company stock worth $14,271,286. 4.20% of the stock is owned by insiders.
NEOG has been the topic of several recent analyst reports. Zacks Investment Research downgraded Neogen from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. BidaskClub downgraded Neogen from a “buy” rating to a “hold” rating in a report on Friday, August 18th. Roth Capital initiated coverage on Neogen in a report on Tuesday, December 5th. They issued a “neutral” rating and a $82.00 price target on the stock. Finally, Craig Hallum increased their price target on Neogen from $62.00 to $80.00 and gave the stock a “hold” rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and a consensus price target of $85.00.
Neogen Corporation (NASDAQ NEOG) opened at $81.08 on Friday. Neogen Corporation has a 52 week low of $59.51 and a 52 week high of $85.89. The stock has a market capitalization of $3,160.44, a P/E ratio of 69.52, a P/E/G ratio of 4.20 and a beta of 1.54.
Neogen’s stock is scheduled to split before the market opens on Tuesday, January 2nd. The 4-3 split was announced on Friday, December 8th. The newly minted shares will be issued to shareholders after the closing bell on Friday, December 29th.
Neogen (NASDAQ:NEOG) last announced its quarterly earnings data on Tuesday, September 19th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.01. Neogen had a return on equity of 9.93% and a net margin of 12.28%. The company had revenue of $95.30 million for the quarter, compared to analysts’ expectations of $94.87 million. During the same quarter in the prior year, the firm earned $0.26 earnings per share. Neogen’s revenue was up 14.0% compared to the same quarter last year. equities analysts anticipate that Neogen Corporation will post 1.31 earnings per share for the current fiscal year.
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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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