UBS Asset Management Americas Inc. Has $1.37 Million Stake in Neogen Corporation (NASDAQ:NEOG)
UBS Asset Management Americas Inc. boosted its stake in Neogen Corporation (NASDAQ:NEOG) by 19.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,838 shares of the company’s stock after buying an additional 3,330 shares during the period. UBS Asset Management Americas Inc. owned about 0.05% of Neogen Corporation worth $1,366,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its position in Neogen Corporation by 5.0% in the fourth quarter. State Street Corp now owns 832,167 shares of the company’s stock valued at $54,925,000 after buying an additional 39,382 shares during the last quarter. Conestoga Capital Advisors LLC boosted its position in Neogen Corporation by 0.6% in the first quarter. Conestoga Capital Advisors LLC now owns 744,063 shares of the company’s stock valued at $48,773,000 after buying an additional 4,077 shares during the last quarter. Norges Bank bought a new position in Neogen Corporation during the fourth quarter valued at $44,409,000. Bank of New York Mellon Corp boosted its position in Neogen Corporation by 1.7% in the first quarter. Bank of New York Mellon Corp now owns 528,147 shares of the company’s stock valued at $34,619,000 after buying an additional 8,880 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its position in Neogen Corporation by 5.3% in the first quarter. Nationwide Fund Advisors now owns 357,911 shares of the company’s stock valued at $23,461,000 after buying an additional 17,950 shares during the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.
Shares of Neogen Corporation (NEOG) traded up 0.15% during mid-day trading on Tuesday, reaching $67.82. 130,965 shares of the company traded hands. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of 59.49 and a beta of 1.52. The firm has a 50-day moving average price of $67.28 and a 200 day moving average price of $64.84. Neogen Corporation has a 52 week low of $50.53 and a 52 week high of $69.97.
Neogen Corporation (NASDAQ:NEOG) last posted its quarterly earnings results on Tuesday, July 18th. The company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. Neogen Corporation had a net margin of 12.11% and a return on equity of 9.87%. The company had revenue of $98.80 million during the quarter, compared to analyst estimates of $100.80 million. During the same period last year, the firm posted $0.26 EPS. Neogen Corporation’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, analysts anticipate that Neogen Corporation will post $1.30 earnings per share for the current year.
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Several research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Neogen Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, May 23rd. BidaskClub lowered shares of Neogen Corporation from a “buy” rating to a “hold” rating in a research report on Friday. Finally, CL King assumed coverage on shares of Neogen Corporation in a research report on Friday, July 14th. They set a “neutral” rating for the company.
In other Neogen Corporation news, VP Edward Bradley sold 5,000 shares of the firm’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 transaction of $331,650.00. Following the completion of the transaction, the vice president now directly owns 86,512 shares of the company’s stock, valued at approximately $5,738,340.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James P. Tobin acquired 500 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were purchased at an average cost of $64.64 per share, for a total transaction of $32,320.00. Following the purchase, the director now directly owns 3,200 shares in the company, valued at $206,848. The disclosure for this purchase can be found here. Insiders have sold a total of 71,576 shares of company stock valued at $4,455,280 over the last three months. 4.70% of the stock is currently owned by 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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