Wells Fargo & Company MN Increases Holdings in Neogen Co. (NEOG)

Wells Fargo & Company MN raised its holdings in shares of Neogen Co. (NASDAQ:NEOG) by 6.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 173,017 shares of the company’s stock after acquiring an additional 10,667 shares during the period. Wells Fargo & Company MN owned approximately 0.45% of Neogen worth $13,402,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Citadel Advisors LLC lifted its stake in shares of Neogen by 338.6% in the 3rd quarter. Citadel Advisors LLC now owns 143,553 shares of the company’s stock valued at $11,120,000 after purchasing an additional 110,821 shares during the period. Legal & General Group Plc lifted its stake in shares of Neogen by 2.7% in the 3rd quarter. Legal & General Group Plc now owns 75,156 shares of the company’s stock valued at $5,820,000 after purchasing an additional 1,971 shares during the period. American International Group Inc. lifted its stake in shares of Neogen by 5.7% in the 3rd quarter. American International Group Inc. now owns 29,523 shares of the company’s stock valued at $2,287,000 after purchasing an additional 1,601 shares during the period. Wasatch Advisors Inc. acquired a new position in shares of Neogen in the 3rd quarter valued at $11,016,000. Finally, Ameriprise Financial Inc. lifted its stake in shares of Neogen by 9.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 406,464 shares of the company’s stock valued at $31,486,000 after purchasing an additional 34,188 shares during the period. Institutional investors and hedge funds own 86.96% of the company’s stock.

In other news, VP Edward Bradley sold 17,824 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $80.32, for a total transaction of $1,431,623.68. Following the completion of the sale, the vice president now owns 27,212 shares of the company’s stock, valued at $2,185,667.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Terri A. Morrical sold 11,398 shares of the company’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $75.01, for a total transaction of $854,963.98. Following the sale, the vice president now directly owns 28,185 shares of the company’s stock, valued at approximately $2,114,156.85. The disclosure for this sale can be found here. Insiders have sold 134,158 shares of company stock valued at $10,545,427 in the last ninety days. Insiders own 4.20% of the company’s stock.

NEOG has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Neogen from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a report on Wednesday, October 11th. Craig Hallum boosted their price target on shares of Neogen from $62.00 to $80.00 and gave the stock a “hold” rating in a report on Thursday, December 7th. Finally, Roth Capital initiated coverage on shares of Neogen in a report on Tuesday, December 5th. They issued a “neutral” rating and a $82.00 price target for the company. Five research analysts have rated the stock with a hold rating, Neogen presently has a consensus rating of “Hold” and an average target price of $85.00.

Shares of Neogen Co. (NEOG) opened at $82.50 on Friday. The company has a market cap of $3,160.00, a price-to-earnings ratio of 69.33, a P/E/G ratio of 4.18 and a beta of 1.54. Neogen Co. has a 1-year low of $59.51 and a 1-year high of $85.89.

Neogen shares are going to split on Tuesday, January 2nd. The 4-3 split was announced on Friday, December 8th. The newly issued shares will be payable to shareholders after the closing bell on Friday, December 29th.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings results on Tuesday, September 19th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.30 by $0.01. The company had revenue of $95.30 million during the quarter, compared to analyst estimates of $94.87 million. Neogen had a net margin of 12.28% and a return on equity of 9.93%. The firm’s revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 EPS. analysts anticipate that Neogen Co. will post 1.31 earnings per share for the current year.

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Neogen 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.

Institutional Ownership by Quarter for Neogen (NASDAQ:NEOG)

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