Riverbridge Partners LLC Sells 14,044 Shares of Neogen Co. (NASDAQ:NEOG)
Riverbridge Partners LLC lowered its stake in shares of Neogen Co. (NASDAQ:NEOG) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,246,164 shares of the company’s stock after selling 14,044 shares during the quarter. Neogen makes up approximately 1.5% of Riverbridge Partners LLC’s holdings, making the stock its 26th biggest holding. Riverbridge Partners LLC owned about 2.36% of Neogen worth $81,325,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of NEOG. California Public Employees Retirement System boosted its stake in shares of Neogen by 42.6% in the 3rd quarter. California Public Employees Retirement System now owns 113,795 shares of the company’s stock valued at $7,751,000 after purchasing an additional 34,015 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Neogen by 8.4% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 45,239 shares of the company’s stock valued at $2,810,000 after purchasing an additional 3,522 shares during the last quarter. Metropolitan Life Insurance Co NY boosted its stake in shares of Neogen by 3.7% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 16,625 shares of the company’s stock valued at $1,132,000 after purchasing an additional 598 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Neogen in the 3rd quarter valued at about $68,000. Finally, Captrust Financial Advisors boosted its stake in shares of Neogen by 20.0% in the 2nd quarter. Captrust Financial Advisors now owns 1,135 shares of the company’s stock valued at $70,000 after purchasing an additional 189 shares during the last quarter. 91.67% of the stock is currently owned by hedge funds and other institutional investors.
Neogen stock traded up $0.96 during midday trading on Tuesday, hitting $68.87. 177,455 shares of the stock were exchanged, compared to its average volume of 161,684. The company has a fifty day simple moving average of $66.85 and a two-hundred day simple moving average of $67.19. Neogen Co. has a 52 week low of $50.60 and a 52 week high of $79.83. The stock has a market capitalization of $3.47 billion, a PE ratio of 59.89, a P/E/G ratio of 5.62 and a beta of 1.37.
NEOG has been the topic of several recent research reports. Roth Capital reaffirmed a “neutral” rating on shares of Neogen in a research note on Tuesday, December 31st. ValuEngine lowered shares of Neogen from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Zacks Investment Research raised shares of Neogen from a “sell” rating to a “hold” rating and set a $71.00 price objective on the stock in a research note on Wednesday, November 27th. Finally, BidaskClub lowered shares of Neogen from a “hold” rating to a “sell” rating in a research note on Friday, December 27th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Neogen has an average rating of “Hold” and a consensus price target of $74.50.
In related news, Director James L. Herbert sold 20,000 shares of Neogen stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $64.81, for a total transaction of $1,296,200.00. Following the transaction, the director now owns 186,970 shares of the company’s stock, valued at approximately $12,117,525.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Terri A. Morrical sold 7,601 shares of Neogen stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $65.45, for a total transaction of $497,485.45. Following the transaction, the vice president now directly owns 45,176 shares in the company, valued at approximately $2,956,769.20. The disclosure for this sale can be found here. Insiders have sold a total of 219,220 shares of company stock worth $14,450,178 in the last three months. 1.70% of the stock is owned by insiders.
Neogen Company Profile
Neogen Corporation, together with its subsidiaries, develops, manufactures, and markets various products for food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment primarily offers diagnostic test kits and complementary to detect dangerous and/or unintended substances in human food and animal feed, such as foodborne pathogens, spoilage organisms, natural toxins, food allergens, genetic modifications, ruminant by-products, meat speciation, drug residues, pesticide residues, and general sanitation concerns; and AccuPoint Advanced rapid sanitation test for adenosine triphosphate, a chemical found in living cells.
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