People s United Financial Inc. acquired a new position in shares of Neogen Co. (NASDAQ:NEOG) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 5,429 shares of the company’s stock, valued at approximately $435,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Millennium Management LLC bought a new stake in shares of Neogen in the 4th quarter valued at $2,264,000. Wasatch Advisors Inc. boosted its stake in shares of Neogen by 95.1% in the 1st quarter. Wasatch Advisors Inc. now owns 1,995,749 shares of the company’s stock valued at $133,695,000 after purchasing an additional 972,709 shares during the last quarter. Wells Fargo & Company MN boosted 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 valued at $22,921,000 after purchasing an additional 157,425 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Neogen by 37.4% in the 1st quarter. Rhumbline Advisers now owns 120,696 shares of the company’s stock valued at $8,085,000 after purchasing an additional 32,868 shares during the last quarter. Finally, Marco Investment Management LLC bought a new stake in shares of Neogen in the 1st quarter valued at $201,000. 89.66% of the stock is owned by institutional investors and hedge funds.

A number of research firms have recently commented on NEOG. BidaskClub raised shares of Neogen from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 15th. ValuEngine raised shares of Neogen from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 6th. Zacks Investment Research lowered shares of Neogen from a “hold” rating to a “sell” rating in a research note on Thursday, May 31st. Finally, Craig Hallum upped their price objective on shares of Neogen from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Wednesday, July 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a strong buy rating to the company’s stock. Neogen currently has a consensus rating of “Buy” and a consensus target price of $67.75.

In related news, Director Thomas H. Reed sold 22,000 shares of the stock in a transaction on Monday, July 30th. The shares were sold at an average price of $80.41, for a total transaction of $1,769,020.00. Following the transaction, the director now directly owns 17,373 shares of the company’s stock, valued at $1,396,962.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider James L. Herbert sold 38,600 shares of the stock in a transaction on Wednesday, July 18th. The stock was sold at an average price of $82.20, for a total transaction of $3,172,920.00. Following the transaction, the insider now directly owns 775,226 shares in the company, valued at $63,723,577.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 246,650 shares of company stock worth $20,257,385. 4.20% of the stock is owned by insiders.

Shares of NASDAQ NEOG opened at $88.78 on Friday. The firm has a market cap of $4.52 billion, a P/E ratio of 71.98 and a beta of 1.33. Neogen Co. has a 12-month low of $48.84 and a 12-month high of $89.09.

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 the Thomson Reuters’ consensus estimate of $0.30 by $0.03. The business had revenue of $109.29 million for the quarter, compared to analyst estimates of $108.11 million. Neogen had a net margin of 15.70% and a return on equity of 11.97%. Neogen’s revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 earnings per share. analysts predict that Neogen Co. will post 1.24 EPS for the current year.

Neogen Company Profile

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.

Read More: Price to Earnings Ratio (PE) Basics

Institutional Ownership by Quarter for Neogen (NASDAQ:NEOG)

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