State Street Corp Has $59.39 Million Position in Neogen Corporation (NASDAQ:NEOG)
State Street Corp boosted its position in Neogen Corporation (NASDAQ:NEOG) by 8.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 905,938 shares of the company’s stock after buying an additional 73,771 shares during the period. State Street Corp owned about 2.38% of Neogen Corporation worth $59,385,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its position in Neogen Corporation by 17.9% in the first quarter. Bank of America Corp DE now owns 269,115 shares of the company’s stock worth $17,641,000 after buying an additional 40,897 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Neogen Corporation during the first quarter worth approximately $2,903,000. Allen Investment Management LLC purchased a new position in Neogen Corporation during the first quarter worth approximately $926,000. Schwab Charles Investment Management Inc. boosted its position in Neogen Corporation by 5.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 154,157 shares of the company’s stock worth $10,105,000 after buying an additional 8,184 shares in the last quarter. Finally, BlackRock Inc. boosted its position in Neogen Corporation by 149,314.6% in the first quarter. BlackRock Inc. now owns 4,466,002 shares of the company’s stock worth $292,745,000 after buying an additional 4,463,013 shares in the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.
Shares of Neogen Corporation (NASDAQ NEOG) opened at 67.82 on Wednesday. Neogen Corporation has a one year low of $50.53 and a one year high of $69.97. The company has a market cap of $2.59 billion, a price-to-earnings ratio of 59.49 and a beta of 1.52. The company’s 50-day moving average is $67.28 and its 200-day moving average is $64.84.
Neogen Corporation (NASDAQ:NEOG) last posted its quarterly earnings data on Tuesday, July 18th. The company reported $0.32 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.32. Neogen Corporation had a net margin of 12.11% and a return on equity of 9.87%. The business had revenue of $98.80 million during the quarter, compared to analyst estimates of $100.80 million. During the same quarter last year, the firm posted $0.26 earnings per share. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, equities analysts predict that Neogen Corporation will post $1.30 EPS for the current year.
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A number of equities research analysts recently weighed in on the stock. BidaskClub lowered shares of Neogen Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Zacks Investment Research upgraded shares of Neogen Corporation from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a report on Thursday, July 20th. Finally, CL King assumed coverage on shares of Neogen Corporation in a report on Friday, July 14th. They set a “neutral” rating for the company.
In other news, CEO James L. Herbert sold 8,107 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $62.01, for a total value of $502,715.07. Following the completion of the transaction, the chief executive officer now owns 890,319 shares of the company’s stock, valued at $55,208,681.19. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Edward Bradley sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $61.33, for a total transaction of $306,650.00. Following the completion of the transaction, the vice president now directly owns 96,512 shares of the company’s stock, valued at approximately $5,919,080.96. The disclosure for this sale can be found here. In the last three months, insiders sold 71,576 shares of company stock valued at $4,455,280. Insiders own 4.70% of the company’s stock.
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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