Principal Financial Group Inc. increased its position in Neogen Corporation (NASDAQ:NEOG) by 3.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 300,883 shares of the company’s stock after buying an additional 9,466 shares during the period. Principal Financial Group Inc. owned approximately 0.79% of Neogen Corporation worth $19,721,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. OppenheimerFunds Inc. boosted its stake in Neogen Corporation by 2,910.7% in the first quarter. OppenheimerFunds Inc. now owns 96,885 shares of the company’s stock worth $6,351,000 after buying an additional 93,667 shares in the last quarter. Cortina Asset Management LLC boosted its stake in Neogen Corporation by 168.9% in the first quarter. Cortina Asset Management LLC now owns 280,079 shares of the company’s stock worth $18,359,000 after buying an additional 175,904 shares in the last quarter. Suffolk Capital Management LLC boosted its stake in Neogen Corporation by 14.2% in the first quarter. Suffolk Capital Management LLC now owns 24,897 shares of the company’s stock worth $1,632,000 after buying an additional 3,092 shares in the last quarter. Arizona State Retirement System boosted its stake in Neogen Corporation by 1.5% in the first quarter. Arizona State Retirement System now owns 19,741 shares of the company’s stock worth $1,294,000 after buying an additional 300 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Neogen Corporation by 53.0% in the first quarter. Victory Capital Management Inc. now owns 2,543 shares of the company’s stock worth $167,000 after buying an additional 881 shares in the last quarter. 86.37% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Neogen Corporation (NASDAQ:NEOG)

Neogen Corporation (NEOG) traded up 0.43% during midday trading on Monday, hitting $68.42. The company had a trading volume of 5,436 shares. The stock has a market capitalization of $2.61 billion, a PE ratio of 63.35 and a beta of 1.61. The stock has a 50 day moving average price of $63.63 and a 200-day moving average price of $64.35. Neogen Corporation has a 52 week low of $50.35 and a 52 week high of $69.09.

Neogen Corporation (NASDAQ:NEOG) last announced its earnings results on Tuesday, March 21st. The company reported $0.27 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.27. Neogen Corporation had a return on equity of 9.64% and a net margin of 11.67%. The firm had revenue of $88.40 million for the quarter, compared to the consensus estimate of $89.41 million. During the same period in the previous year, the business earned $0.22 EPS. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, equities analysts predict that Neogen Corporation will post $1.14 EPS for the current year.

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Several equities research analysts recently commented on the company. Zacks Investment Research cut Neogen Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, May 23rd. BidaskClub raised Neogen Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th.

In related news, CEO James L. Herbert sold 8,107 shares of the business’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $62.01, for a total transaction of $502,715.07. Following the transaction, the chief executive officer now directly owns 890,319 shares in the company, valued at approximately $55,208,681.19. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO James L. Herbert sold 48,469 shares of the business’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $61.29, for a total value of $2,970,665.01. Following the transaction, the chief executive officer now owns 912,105 shares in the company, valued at $55,902,915.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 85,270 shares of company stock worth $5,243,885. 4.70% of the stock is owned by company insiders.

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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