Bessemer Group Inc. raised its position in Neogen Corporation (NASDAQ:NEOG) by 82.7% during the second quarter, Holdings Channel reports. The fund owned 35,900 shares of the company’s stock after buying an additional 16,253 shares during the period. Bessemer Group Inc.’s holdings in Neogen Corporation were worth $2,481,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of NEOG. LS Investment Advisors LLC increased its position in shares of Neogen Corporation by 0.8% in the first quarter. LS Investment Advisors LLC now owns 42,137 shares of the company’s stock worth $2,762,000 after buying an additional 355 shares during the last quarter. Comerica Bank increased its position in shares of Neogen Corporation by 5.2% in the first quarter. Comerica Bank now owns 45,419 shares of the company’s stock worth $2,893,000 after buying an additional 2,249 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Neogen Corporation by 13.2% in the first quarter. BNP Paribas Arbitrage SA now owns 7,959 shares of the company’s stock worth $522,000 after buying an additional 926 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Neogen Corporation by 1.7% in the first quarter. Bank of New York Mellon Corp now owns 528,147 shares of the company’s stock worth $34,619,000 after buying an additional 8,880 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of Neogen Corporation by 78.2% in the first quarter. First Trust Advisors LP now owns 14,884 shares of the company’s stock worth $976,000 after buying an additional 6,530 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.
Shares of Neogen Corporation (NEOG) opened at 67.77 on Thursday. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of 59.45 and a beta of 1.52. Neogen Corporation has a one year low of $50.53 and a one year high of $69.97. The stock’s 50 day moving average is $67.25 and its 200-day moving average is $64.91.
Neogen Corporation (NASDAQ:NEOG) last posted its quarterly earnings data on Tuesday, July 18th. The company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. The company had revenue of $98.80 million for the quarter, compared to analyst estimates of $100.80 million. Neogen Corporation had a net margin of 12.11% and a return on equity of 9.87%. Neogen Corporation’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.26 earnings per share. On average, equities research analysts predict that Neogen Corporation will post $1.30 EPS for the current fiscal year.
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A number of equities analysts have recently issued reports on the company. BidaskClub raised Neogen Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 30th. CL King assumed coverage on Neogen Corporation in a research report on Friday, July 14th. They set a “neutral” rating on the stock. Finally, Zacks Investment Research raised Neogen Corporation from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Thursday, July 20th.
In other Neogen Corporation news, VP Edward Bradley sold 5,000 shares of Neogen Corporation stock in a transaction on Friday, May 19th. The shares were sold at an average price of $61.33, for a total value of $306,650.00. Following the transaction, the vice president now directly owns 96,512 shares in the company, valued at $5,919,080.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James P. Tobin acquired 500 shares of the company’s stock in a transaction on Thursday, July 27th. The stock was acquired at an average price of $64.64 per share, for a total transaction of $32,320.00. Following the completion of 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. Over the last 90 days, insiders sold 63,469 shares of company stock worth $3,952,565. 4.70% of the stock is currently owned by company insiders.
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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