Neogen Co. (NEOG) Position Boosted by Boston Family Office LLC
Boston Family Office LLC lifted its stake in Neogen Co. (NASDAQ:NEOG) by 58.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 50,828 shares of the company’s stock after purchasing an additional 18,700 shares during the period. Boston Family Office LLC’s holdings in Neogen were worth $3,134,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Neogen by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 3,319,437 shares of the company’s stock valued at $229,406,000 after purchasing an additional 61,968 shares during the period. Conestoga Capital Advisors LLC boosted its position in shares of Neogen by 12.4% in the 4th quarter. Conestoga Capital Advisors LLC now owns 1,077,886 shares of the company’s stock valued at $88,613,000 after purchasing an additional 119,102 shares during the period. Wasatch Advisors Inc. boosted its position in shares of Neogen by 619.3% in the 4th quarter. Wasatch Advisors Inc. now owns 1,023,040 shares of the company’s stock valued at $84,104,000 after purchasing an additional 880,819 shares during the period. State Street Corp boosted its position in shares of Neogen by 4.8% in the 2nd quarter. State Street Corp now owns 949,434 shares of the company’s stock valued at $65,613,000 after purchasing an additional 43,496 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Neogen by 2.8% in the 2nd quarter. Northern Trust Corp now owns 530,832 shares of the company’s stock valued at $36,685,000 after purchasing an additional 14,353 shares during the period. Institutional investors and hedge funds own 66.36% of the company’s stock.
A number of research firms recently weighed in on NEOG. Zacks Investment Research lowered Neogen from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. Roth Capital began coverage on Neogen in a research report on Tuesday, December 5th. They issued a “neutral” rating and a $61.50 price target for the company. Craig Hallum increased their price target on Neogen from $46.50 to $60.00 and gave the company a “hold” rating in a research report on Thursday, December 7th. Stephens reiterated a “hold” rating and issued a $62.00 price target on shares of Neogen in a research report on Wednesday, January 10th. Finally, BidaskClub downgraded Neogen from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Five analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $63.25.
Neogen (NASDAQ:NEOG) last announced its quarterly earnings data on Wednesday, January 3rd. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. The firm had revenue of $101.80 million during the quarter, compared to the consensus estimate of $102.46 million. Neogen had a return on equity of 10.72% and a net margin of 13.47%. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.29 EPS. sell-side analysts anticipate that Neogen Co. will post 1.1 EPS for the current year.
In related news, Director G Bruce Papesh sold 6,000 shares of the stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $59.72, for a total value of $358,320.00. Following the completion of the sale, the director now directly owns 18,196 shares of the company’s stock, valued at approximately $1,086,665.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James L. Herbert sold 26,000 shares of the stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $81.45, for a total value of $2,117,700.00. Following the completion of the sale, the insider now directly owns 879,430 shares of the company’s stock, valued at $71,629,573.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 61,649 shares of company stock valued at $4,620,544. Company insiders own 4.20% of the company’s stock.
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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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