Neogen Corporation (NEOG) Holdings Cut by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in shares of Neogen Corporation (NASDAQ:NEOG) by 1.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 508,760 shares of the company’s stock after selling 5,935 shares during the quarter. Bank of New York Mellon Corp owned about 1.33% of Neogen worth $39,409,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Conestoga Capital Advisors LLC grew its stake in Neogen by 20.2% during the 3rd 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 in the last quarter. Ameriprise Financial Inc. lifted its holdings in Neogen by 32.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 372,276 shares of the company’s stock worth $25,728,000 after buying an additional 91,390 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Neogen by 71.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 194,552 shares of the company’s stock worth $13,445,000 after buying an additional 80,775 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Neogen by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 3,319,437 shares of the company’s stock worth $229,406,000 after buying an additional 61,968 shares during the last quarter. Finally, Fred Alger Management Inc. lifted its holdings in Neogen by 13.8% during the 2nd quarter. Fred Alger Management Inc. now owns 443,000 shares of the company’s stock worth $30,616,000 after buying an additional 53,745 shares during the last quarter. 87.06% of the stock is owned by institutional investors.

A number of brokerages have issued reports on NEOG. Zacks Investment Research downgraded Neogen from a “buy” rating to a “hold” rating in a report on Wednesday. BidaskClub raised Neogen from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Finally, Roth Capital assumed coverage on Neogen in a report on Tuesday. They set a “neutral” rating and a $82.00 price target for the company.

In related news, CFO Steven J. Quinlan sold 2,772 shares of the business’s stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $73.54, for a total value of $203,852.88. Following the transaction, the chief financial officer now owns 12,875 shares in the company, valued at approximately $946,827.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Edward Bradley sold 13,628 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $70.06, for a total value of $954,777.68. Following the completion of the transaction, the vice president now owns 71,691 shares in the company, valued at approximately $5,022,671.46. The disclosure for this sale can be found here. Insiders sold a total of 186,662 shares of company stock worth $14,271,286 in the last 90 days. 4.20% of the stock is currently owned by insiders.

Neogen Corporation (NASDAQ NEOG) traded up $0.53 during trading on Thursday, hitting $82.12. The stock had a trading volume of 105,200 shares, compared to its average volume of 110,820. Neogen Corporation has a fifty-two week low of $59.51 and a fifty-two week high of $85.89. The stock has a market cap of $3,116.89, a P/E ratio of 68.56, a P/E/G ratio of 4.15 and a beta of 1.54.

Neogen (NASDAQ:NEOG) last posted its earnings results on Tuesday, September 19th. The company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.01. Neogen had a return on equity of 9.93% and a net margin of 12.28%. The business had revenue of $95.30 million during the quarter, compared to the consensus estimate of $94.87 million. During the same period in the previous year, the business earned $0.26 EPS. The business’s quarterly revenue was up 14.0% on a year-over-year basis. equities research analysts predict that Neogen Corporation will post 1.31 earnings per share for the current year.

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Neogen Company Profile

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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Institutional Ownership by Quarter for Neogen (NASDAQ:NEOG)

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