Pinebridge Investments L.P. Buys 68 Shares of Neogen Corporation (NEOG)
Pinebridge Investments L.P. grew its stake in shares of Neogen Corporation (NASDAQ:NEOG) by 1.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 5,022 shares of the company’s stock after acquiring an additional 68 shares during the period. Pinebridge Investments L.P.’s holdings in Neogen Corporation were worth $347,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Neogen Corporation by 149,314.6% during the 1st quarter. BlackRock Inc. now owns 4,466,002 shares of the company’s stock worth $292,745,000 after acquiring an additional 4,463,013 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of 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 acquiring an additional 176,056 shares during the last quarter. Royce & Associates LP grew its holdings in shares of 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 acquiring an additional 112,100 shares during the last quarter. OppenheimerFunds Inc. grew its holdings in shares of 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 acquiring an additional 93,667 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of 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 acquiring an additional 91,390 shares during the last quarter. Institutional investors own 86.10% of the company’s stock.
In other Neogen Corporation news, VP Edward Bradley sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $66.33, for a total value of $331,650.00. Following the completion of the sale, the vice president now owns 86,512 shares of the company’s stock, valued at $5,738,340.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Steven J. Quinlan sold 2,772 shares of the company’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $73.54, for a total transaction of $203,852.88. Following the completion of the sale, the chief financial officer now directly owns 12,875 shares of the company’s stock, valued at approximately $946,827.50. The disclosure for this sale can be found here. Insiders have sold a total of 116,379 shares of company stock worth $8,440,572 in the last three months. 4.20% of the stock is owned by insiders.
A number of equities research analysts have recently issued reports on the company. BidaskClub lowered Neogen Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Zacks Investment Research lowered Neogen Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Finally, CL King initiated coverage on Neogen Corporation in a research report on Friday, July 14th. They issued a “neutral” rating for the company.
Neogen Corporation (NEOG) opened at 79.26 on Tuesday. Neogen Corporation has a one year low of $50.53 and a one year high of $79.49. The firm has a 50 day moving average of $70.18 and a 200 day moving average of $66.22. The firm has a market capitalization of $3.03 billion, a PE ratio of 66.61 and a beta of 1.51.
Neogen Corporation (NASDAQ:NEOG) last announced its quarterly earnings results on Tuesday, September 19th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. The company had revenue of $95.30 million during the quarter, compared to analysts’ expectations of $94.87 million. Neogen Corporation had a return on equity of 9.93% and a net margin of 12.28%. Neogen Corporation’s revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.26 EPS. Equities analysts forecast that Neogen Corporation will post $1.31 EPS for the current year.
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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