PDT Partners LLC Sells 2,300 Shares of Neogen Corporation (NEOG)
PDT Partners LLC lessened its stake in Neogen Corporation (NASDAQ:NEOG) by 11.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,400 shares of the company’s stock after selling 2,300 shares during the period. PDT Partners LLC’s holdings in Neogen Corporation were worth $1,203,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in NEOG. BlackRock Inc. boosted its position in Neogen Corporation by 149,314.6% in the 1st quarter. BlackRock Inc. now owns 4,466,002 shares of the company’s stock worth $292,745,000 after purchasing an additional 4,463,013 shares in the last quarter. Vanguard Group Inc. boosted its position in Neogen Corporation by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 3,257,469 shares of the company’s stock worth $213,527,000 after purchasing an additional 176,056 shares in the last quarter. Royce & Associates LP boosted its position in Neogen Corporation by 286.0% in the 1st quarter. Royce & Associates LP now owns 151,300 shares of the company’s stock worth $9,918,000 after purchasing an additional 112,100 shares in the last quarter. OppenheimerFunds Inc. boosted its position in Neogen Corporation by 2,910.7% in the 1st quarter. OppenheimerFunds Inc. now owns 96,885 shares of the company’s stock worth $6,351,000 after purchasing an additional 93,667 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Neogen Corporation by 32.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 372,276 shares of the company’s stock worth $25,728,000 after purchasing an additional 91,390 shares in the last quarter. Institutional investors and hedge funds own 86.10% of the company’s stock.
Shares of Neogen Corporation (NASDAQ:NEOG) opened at 78.74 on Friday. The firm has a 50-day moving average price of $71.24 and a 200 day moving average price of $66.48. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 66.17 and a beta of 1.52. Neogen Corporation has a 52-week low of $50.53 and a 52-week high of $79.99.
Neogen Corporation (NASDAQ:NEOG) last announced its earnings results on Tuesday, September 19th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.01. Neogen Corporation 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 the consensus estimate of $94.87 million. During the same period last year, the business posted $0.26 EPS. The company’s revenue was up 14.0% on a year-over-year basis. Analysts expect that Neogen Corporation will post $1.31 earnings per share for the current year.
Several research firms have commented on NEOG. Zacks Investment Research lowered Neogen Corporation from a “hold” rating to a “sell” rating in a research report on Friday, September 22nd. BidaskClub lowered Neogen Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Finally, CL King began coverage on Neogen Corporation in a research report on Friday, July 14th. They issued a “neutral” rating on the stock.
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In other Neogen Corporation news, CFO Steven J. Quinlan sold 2,772 shares of Neogen Corporation 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 directly owns 12,875 shares in the company, valued at approximately $946,827.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James P. Tobin bought 500 shares of the stock in a transaction on Thursday, July 27th. The stock was bought at an average price of $64.64 per share, for a total transaction of $32,320.00. Following the completion of the purchase, the director now directly owns 3,200 shares in the company, valued at approximately $206,848. The disclosure for this purchase can be found here. Insiders sold a total of 116,379 shares of company stock worth $8,440,572 over the last quarter. Company insiders own 4.20% of the company’s stock.
Neogen Corporation 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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