Riverbridge Partners LLC trimmed its stake in shares of Neogen Co. (NASDAQ:NEOG) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,246,164 shares of the company’s stock after selling 14,044 shares during the quarter. Neogen comprises approximately 1.5% of Riverbridge Partners LLC’s investment portfolio, making the stock its 26th biggest position. Riverbridge Partners LLC’s holdings in Neogen were worth $81,325,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Johanson Financial Advisors Inc. acquired a new position in Neogen during the fourth quarter worth about $1,033,000. Meridian Wealth Management LLC acquired a new position in shares of Neogen in the fourth quarter valued at approximately $332,000. Metropolitan Life Insurance Co NY increased its stake in shares of Neogen by 3.7% in the third quarter. Metropolitan Life Insurance Co NY now owns 16,625 shares of the company’s stock valued at $1,132,000 after buying an additional 598 shares during the period. Man Group plc increased its stake in shares of Neogen by 159.5% in the third quarter. Man Group plc now owns 156,315 shares of the company’s stock valued at $10,647,000 after buying an additional 96,085 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in Neogen in the third quarter valued at approximately $68,000. 91.67% of the stock is owned by hedge funds and other institutional investors.

Shares of Neogen stock traded up $0.96 on Tuesday, reaching $68.87. 177,455 shares of the company’s stock were exchanged, compared to its average volume of 161,684. The company has a market capitalization of $3.47 billion, a P/E ratio of 59.89, a price-to-earnings-growth ratio of 5.62 and a beta of 1.37. Neogen Co. has a 52 week low of $50.60 and a 52 week high of $79.83. The firm’s 50-day moving average is $66.85 and its two-hundred day moving average is $67.19.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings results on Monday, December 23rd. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). The business had revenue of $107.80 million for the quarter, compared to the consensus estimate of $109.93 million. Neogen had a return on equity of 9.17% and a net margin of 14.35%. Neogen’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.31 earnings per share. Sell-side analysts forecast that Neogen Co. will post 1.17 earnings per share for the current fiscal year.

Several brokerages recently commented on NEOG. ValuEngine cut Neogen from a “buy” rating to a “hold” rating in a report on Friday, September 27th. BidaskClub cut Neogen from a “hold” rating to a “sell” rating in a report on Friday, December 27th. Zacks Investment Research upgraded Neogen from a “sell” rating to a “hold” rating and set a $71.00 target price on the stock in a report on Wednesday, November 27th. Finally, Roth Capital restated a “neutral” rating on shares of Neogen in a report on Tuesday, December 31st. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $74.50.

In other news, VP Terri A. Morrical sold 7,601 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $65.45, for a total transaction of $497,485.45. Following the completion of the sale, the vice president now directly owns 45,176 shares of the company’s stock, valued at approximately $2,956,769.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James L. Herbert sold 7,339 shares of the firm’s stock in a transaction on Thursday, January 9th. The shares were sold at an average price of $65.10, for a total value of $477,768.90. The disclosure for this sale can be found here. Insiders have sold a total of 219,220 shares of company stock worth $14,450,178 over the last 90 days. Company insiders own 1.70% of the company’s stock.

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.

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Institutional Ownership by Quarter for Neogen (NASDAQ:NEOG)

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