MetLife Investment Advisors LLC Raises Position in Neogen Co. (NEOG)

MetLife Investment Advisors LLC increased its holdings in Neogen Co. (NASDAQ:NEOG) by 3.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,979 shares of the company’s stock after buying an additional 861 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Neogen were worth $1,843,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Wells Fargo & Company MN boosted its position in Neogen by 85.2% in the 1st quarter. Wells Fargo & Company MN now owns 342,166 shares of the company’s stock worth $22,921,000 after purchasing an additional 157,425 shares in the last quarter. Prudential Financial Inc. boosted its position in Neogen by 48.1% in the 1st quarter. Prudential Financial Inc. now owns 93,785 shares of the company’s stock worth $6,283,000 after purchasing an additional 30,440 shares in the last quarter. Swiss National Bank boosted its position in Neogen by 35.9% in the 1st quarter. Swiss National Bank now owns 88,566 shares of the company’s stock worth $5,933,000 after purchasing an additional 23,416 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in Neogen by 39.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 250,957 shares of the company’s stock worth $16,812,000 after purchasing an additional 71,467 shares in the last quarter. Finally, American International Group Inc. boosted its position in Neogen by 8.2% in the 1st quarter. American International Group Inc. now owns 32,070 shares of the company’s stock worth $2,148,000 after purchasing an additional 2,424 shares in the last quarter. Institutional investors own 89.47% of the company’s stock.

Shares of NASDAQ:NEOG opened at $88.68 on Tuesday. Neogen Co. has a 1 year low of $53.64 and a 1 year high of $97.38. The company has a market cap of $4.63 billion, a PE ratio of 73.29 and a beta of 1.36.

Neogen (NASDAQ:NEOG) last announced its earnings results on Tuesday, July 17th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. Neogen had a return on equity of 11.97% and a net margin of 15.70%. The firm had revenue of $109.29 million for the quarter, compared to analyst estimates of $108.11 million. During the same quarter last year, the firm posted $0.24 EPS. The business’s revenue was up 10.6% on a year-over-year basis. analysts expect that Neogen Co. will post 1.24 earnings per share for the current fiscal year.

Several equities research analysts have commented on the company. BidaskClub lowered Neogen from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 20th. ValuEngine upgraded Neogen from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 6th. Zacks Investment Research lowered Neogen from a “hold” rating to a “sell” rating in a research report on Thursday, May 31st. Finally, Craig Hallum increased their target price on Neogen from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Wednesday, July 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Neogen currently has a consensus rating of “Hold” and an average target price of $67.75.

In other news, Director Thomas H. Reed sold 5,333 shares of the stock in a transaction that occurred on Friday, July 20th. The stock was sold at an average price of $82.56, for a total transaction of $440,292.48. Following the transaction, the director now owns 8,040 shares in the company, valued at approximately $663,782.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas H. Reed sold 22,000 shares of the firm’s stock in a transaction on Monday, July 30th. The shares were sold at an average price of $80.41, for a total value of $1,769,020.00. Following the completion of the transaction, the director now owns 17,373 shares in the company, valued at approximately $1,396,962.93. The disclosure for this sale can be found here. Insiders have sold a total of 281,450 shares of company stock worth $23,364,113 in the last quarter. Insiders own 3.00% of the company’s stock.

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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