Neogen Corporation (NEOG) Position Decreased by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. trimmed its stake in Neogen Corporation (NASDAQ:NEOG) by 0.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,081,452 shares of the company’s stock after selling 4,051 shares during the period. PNC Financial Services Group Inc. owned 2.83% of Neogen Corporation worth $74,739,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Teacher Retirement System of Texas bought a new position in shares of Neogen Corporation in the 2nd quarter valued at approximately $209,000. Swiss National Bank raised its stake in shares of Neogen Corporation by 1.0% in the 1st quarter. Swiss National Bank now owns 62,350 shares of the company’s stock valued at $4,087,000 after acquiring an additional 600 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Neogen Corporation by 5.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 154,157 shares of the company’s stock valued at $10,105,000 after acquiring an additional 8,184 shares in the last quarter. State Street Corp raised its stake in shares of Neogen Corporation by 8.9% in the 1st quarter. State Street Corp now owns 905,938 shares of the company’s stock valued at $59,385,000 after acquiring an additional 73,771 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of Neogen Corporation by 78.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,526 shares of the company’s stock valued at $520,000 after acquiring an additional 3,316 shares in the last quarter. 86.21% of the stock is currently owned by institutional investors and hedge funds.
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In other news, VP Edward Bradley sold 13,628 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $70.06, for a total transaction of $954,777.68. Following the transaction, the vice president now owns 71,691 shares in the company, valued at $5,022,671.46. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James P. Tobin bought 500 shares of the stock in a transaction dated Thursday, July 27th. The shares were purchased at an average price of $64.64 per share, for a total transaction of $32,320.00. Following the purchase, the director now owns 3,200 shares of the company’s stock, valued at approximately $206,848. The disclosure for this purchase can be found here. Insiders sold 38,333 shares of company stock worth $2,647,873 in the last 90 days. Corporate insiders own 4.20% of the company’s stock.
NEOG has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded Neogen Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, May 23rd. BidaskClub raised Neogen Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. Finally, CL King initiated coverage on Neogen Corporation in a research note on Friday, July 14th. They issued a “neutral” rating on the stock.
Shares of Neogen Corporation (NEOG) traded up 2.32% on Friday, hitting $73.07. The company had a trading volume of 275,322 shares. The firm has a market capitalization of $2.79 billion, a P/E ratio of 64.10 and a beta of 1.51. The firm has a 50 day moving average of $67.67 and a 200-day moving average of $65.46. Neogen Corporation has a 12-month low of $50.53 and a 12-month high of $73.45.
Neogen Corporation (NASDAQ:NEOG) last released its quarterly earnings data on Tuesday, July 18th. The company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The firm had revenue of $98.80 million for the quarter, compared to analyst estimates of $100.80 million. Neogen Corporation had a return on equity of 9.87% and a net margin of 12.11%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.26 earnings per share. On average, equities analysts predict that Neogen Corporation will post $1.30 EPS for the current year.
About Neogen Corporation
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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