Swiss National Bank Purchases 2,100 Shares of Neogen Co. (NASDAQ:NEOG)

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Swiss National Bank lifted its position in Neogen Co. (NASDAQ:NEOG) by 2.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 96,866 shares of the company’s stock after buying an additional 2,100 shares during the quarter. Swiss National Bank owned about 0.19% of Neogen worth $6,016,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in NEOG. Wasatch Advisors Inc. grew its stake in shares of Neogen by 23.4% in the first quarter. Wasatch Advisors Inc. now owns 2,597,553 shares of the company’s stock valued at $149,074,000 after buying an additional 492,494 shares in the last quarter. Riverbridge Partners LLC boosted its position in Neogen by 26.2% during the second quarter. Riverbridge Partners LLC now owns 1,064,724 shares of the company’s stock worth $66,130,000 after purchasing an additional 221,143 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in Neogen during the first quarter worth $7,838,000. Marshall Wace LLP boosted its position in Neogen by 153.4% during the first quarter. Marshall Wace LLP now owns 179,967 shares of the company’s stock worth $10,329,000 after purchasing an additional 108,936 shares during the period. Finally, Neuberger Berman Group LLC boosted its position in Neogen by 8.0% during the first quarter. Neuberger Berman Group LLC now owns 910,657 shares of the company’s stock worth $52,263,000 after purchasing an additional 67,781 shares during the period. 89.58% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have commented on the stock. ValuEngine raised shares of Neogen from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Guggenheim assumed coverage on shares of Neogen in a research report on Thursday, May 23rd. They set a “neutral” rating for the company. Zacks Investment Research cut shares of Neogen from a “hold” rating to a “sell” rating and set a $68.00 price objective for the company. in a research report on Friday, June 21st. BidaskClub raised shares of Neogen from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Craig Hallum lifted their price objective on shares of Neogen from $72.00 to $78.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $73.00.

In related news, CEO John Edward Adent sold 31,489 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $69.03, for a total value of $2,173,685.67. Following the completion of the transaction, the chief executive officer now owns 44,302 shares of the company’s stock, valued at $3,058,167.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James L. Herbert sold 15,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $71.67, for a total value of $1,075,050.00. Following the completion of the transaction, the director now directly owns 226,970 shares of the company’s stock, valued at approximately $16,266,939.90. The disclosure for this sale can be found here. Insiders have sold 156,198 shares of company stock valued at $10,347,839 in the last three months. Insiders own 3.00% of the company’s stock.

NEOG opened at $68.94 on Wednesday. Neogen Co. has a fifty-two week low of $50.60 and a fifty-two week high of $97.38. The company has a market capitalization of $3.64 billion, a P/E ratio of 59.95, a P/E/G ratio of 5.71 and a beta of 1.38. The stock has a fifty day moving average of $68.29 and a 200-day moving average of $61.94.

Neogen (NASDAQ:NEOG) last posted its earnings results on Tuesday, July 23rd. The company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.02. Neogen had a return on equity of 9.86% and a net margin of 14.53%. The company had revenue of $109.80 million during the quarter, compared to the consensus estimate of $110.14 million. During the same quarter last year, the firm earned $0.33 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. As a group, sell-side analysts expect that Neogen Co. will post 1.22 EPS for the current year.

About Neogen

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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Institutional Ownership by Quarter for Neogen (NASDAQ:NEOG)

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