Neogen Corp. (NEOG) Shares Bought by Conestoga Capital Advisors LLC
Conestoga Capital Advisors LLC raised its position in shares of Neogen Corp. (NASDAQ:NEOG) by 12.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 877,779 shares of the company’s stock after buying an additional 96,293 shares during the period. Neogen Corp. accounts for 3.4% of Conestoga Capital Advisors LLC’s portfolio, making the stock its 2nd largest position. Conestoga Capital Advisors LLC owned 2.33% of Neogen Corp. worth $49,103,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Eqis Capital Management Inc. acquired a new position in Neogen Corp. during the third quarter worth $271,000. Mason Street Advisors LLC acquired a new position in Neogen Corp. during the second quarter worth $413,000. Schwab Charles Investment Management Inc. increased its position in Neogen Corp. by 1.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 132,039 shares of the company’s stock worth $7,428,000 after buying an additional 2,334 shares during the period. Amalgamated Bank acquired a new position in Neogen Corp. during the second quarter worth $243,000. Finally, FDx Advisors Inc. increased its position in Neogen Corp. by 6.4% in the second quarter. FDx Advisors Inc. now owns 5,188 shares of the company’s stock worth $292,000 after buying an additional 313 shares during the period. 86.09% of the stock is owned by institutional investors and hedge funds.
Shares of Neogen Corp. (NASDAQ:NEOG) traded up 2.08% on Monday, hitting $61.92. 100,834 shares of the stock were exchanged. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 63.18 and a beta of 1.50. Neogen Corp. has a 1-year low of $43.79 and a 1-year high of $62.55. The stock’s 50-day moving average is $55.16 and its 200-day moving average is $54.85.
Neogen Corp. (NASDAQ:NEOG) last released its earnings results on Tuesday, September 27th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.26. Neogen Corp. had a net margin of 11.25% and a return on equity of 9.36%. The company had revenue of $83.65 million for the quarter. During the same quarter in the previous year, the firm earned $0.25 EPS. The firm’s revenue was up 11.7% on a year-over-year basis. Analysts forecast that Neogen Corp. will post $1.12 earnings per share for the current year.
A number of research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Neogen Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, October 11th. Craig Hallum downgraded shares of Neogen Corp. from a “buy” rating to a “hold” rating in a research report on Monday, August 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $58.25.
In related news, CFO Steven J. Quinlan sold 3,000 shares of the business’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $61.28, for a total transaction of $183,840.00. Following the transaction, the chief financial officer now owns 13,103 shares in the company, valued at approximately $802,951.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Terri A. Morrical sold 9,600 shares of the business’s stock in a transaction on Thursday, September 29th. The shares were sold at an average price of $54.14, for a total transaction of $519,744.00. Following the transaction, the vice president now owns 44,384 shares in the company, valued at approximately $2,402,949.76. The disclosure for this sale can be found here. Corporate insiders own 4.70% of the company’s stock.
About Neogen Corp.
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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