Russell Investments Group Ltd. Increases Position in Neogen Co. (NEOG)
Russell Investments Group Ltd. increased its holdings in Neogen Co. (NASDAQ:NEOG) by 3.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,512 shares of the company’s stock after purchasing an additional 979 shares during the period. Russell Investments Group Ltd. owned approximately 0.09% of Neogen worth $2,596,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its position in Neogen by 1.9% in the second quarter. Vanguard Group Inc. now owns 3,319,437 shares of the company’s stock worth $229,406,000 after purchasing an additional 61,968 shares during the last quarter. Conestoga Capital Advisors LLC increased its position in Neogen by 20.2% in the third quarter. Conestoga Capital Advisors LLC now owns 958,784 shares of the company’s stock worth $74,267,000 after purchasing an additional 161,170 shares during the last quarter. State Street Corp increased its position in Neogen by 4.8% in the second quarter. State Street Corp now owns 949,434 shares of the company’s stock worth $65,613,000 after purchasing an additional 43,496 shares during the last quarter. Northern Trust Corp increased its position in Neogen by 2.8% in the second quarter. Northern Trust Corp now owns 530,832 shares of the company’s stock worth $36,685,000 after purchasing an additional 14,353 shares during the last quarter. Finally, Fred Alger Management Inc. increased its position in Neogen by 13.8% in the second quarter. Fred Alger Management Inc. now owns 443,000 shares of the company’s stock worth $30,616,000 after purchasing an additional 53,745 shares during the last quarter. Institutional investors own 86.96% of the company’s stock.
A number of research firms have weighed in on NEOG. Zacks Investment Research cut shares of Neogen from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. Roth Capital began coverage on shares of Neogen in a research report on Tuesday, December 5th. They set a “neutral” rating and a $82.00 price objective on the stock. Finally, Craig Hallum boosted their price objective on shares of Neogen from $62.00 to $80.00 and gave the company a “hold” rating in a research report on Thursday, December 7th. Five analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and an average price target of $85.00.
Neogen Co. (NASDAQ:NEOG) opened at $79.93 on Wednesday. Neogen Co. has a 1 year low of $59.51 and a 1 year high of $85.89. The firm has a market cap of $3,111.16, a price-to-earnings ratio of 68.44, a price-to-earnings-growth ratio of 4.14 and a beta of 1.54.
Neogen’s stock is set to split on Tuesday, January 2nd. The 4-3 split was announced on Friday, December 8th. The newly created shares will be issued to shareholders after the market closes on Friday, December 29th.
Neogen (NASDAQ:NEOG) last issued its earnings results on Tuesday, September 19th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.01. The firm had revenue of $95.30 million during the quarter, compared to analyst estimates of $94.87 million. Neogen had a net margin of 12.28% and a return on equity of 9.93%. The business’s revenue was up 14.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 earnings per share. equities analysts expect that Neogen Co. will post 1.31 earnings per share for the current fiscal year.
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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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