Congress Asset Management Co. MA Has $918,000 Position in Neogen Corporation (NASDAQ:NEOG)

Congress Asset Management Co. MA raised its position in Neogen Corporation (NASDAQ:NEOG) by 19.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,277 shares of the company’s stock after buying an additional 2,181 shares during the period. Congress Asset Management Co. MA’s holdings in Neogen Corporation were worth $918,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. raised its position in shares of Neogen Corporation by 55.7% in the second quarter. Russell Investments Group Ltd. now owns 32,533 shares of the company’s stock worth $2,249,000 after buying an additional 11,638 shares in the last quarter. Conestoga Capital Advisors LLC raised its position in shares of Neogen Corporation by 7.2% in the second quarter. Conestoga Capital Advisors LLC now owns 797,614 shares of the company’s stock worth $55,123,000 after buying an additional 53,551 shares in the last quarter. Legato Capital Management LLC raised its position in shares of Neogen Corporation by 890.4% in the second quarter. Legato Capital Management LLC now owns 6,943 shares of the company’s stock worth $480,000 after buying an additional 6,242 shares in the last quarter. Aperio Group LLC raised its position in shares of Neogen Corporation by 5.5% in the second quarter. Aperio Group LLC now owns 16,610 shares of the company’s stock worth $1,148,000 after buying an additional 860 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Neogen Corporation by 1.1% in the second quarter. Nisa Investment Advisors LLC now owns 18,935 shares of the company’s stock worth $1,309,000 after buying an additional 200 shares in the last quarter. 85.54% of the stock is currently owned by institutional investors.

Neogen Corporation (NEOG) opened at 65.20 on Friday. The firm’s 50 day moving average price is $66.83 and its 200-day moving average price is $65.01. Neogen Corporation has a 52 week low of $50.53 and a 52 week high of $69.97. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 57.19 and a beta of 1.52.

Neogen Corporation (NASDAQ:NEOG) last posted its quarterly earnings data on Tuesday, July 18th. The company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. Neogen Corporation had a net margin of 12.11% and a return on equity of 9.87%. The firm had revenue of $98.80 million during the quarter, compared to analyst estimates of $100.80 million. During the same quarter last year, the business posted $0.26 EPS. The company’s revenue was up 9.7% on a year-over-year basis. Analysts expect that Neogen Corporation will post $1.30 EPS for the current year.

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A number of brokerages have weighed in on NEOG. Zacks Investment Research raised Neogen Corporation from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a research note on Saturday. BidaskClub lowered Neogen Corporation from a “buy” rating to a “hold” rating in a research note on Friday. Finally, CL King began coverage on Neogen Corporation in a research note on Friday, July 14th. They set a “neutral” rating on the stock.

In other Neogen Corporation news, VP Edward Bradley sold 5,000 shares of Neogen Corporation stock in a transaction on Monday, June 19th. The shares were sold at an average price of $68.72, for a total transaction of $343,600.00. Following the completion of the sale, the vice president now owns 91,512 shares of the company’s stock, valued at approximately $6,288,704.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Steven J. Quinlan sold 4,000 shares of Neogen Corporation stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $68.68, for a total transaction of $274,720.00. Following the sale, the vice president now directly owns 14,103 shares of the company’s stock, valued at approximately $968,594.04. The disclosure for this sale can be found here. Insiders have sold a total of 18,333 shares of company stock valued at $1,246,737 in the last three months. Company insiders own 4.70% of the company’s stock.

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.

Institutional Ownership by Quarter for Neogen Corporation (NASDAQ:NEOG)

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