Neogen Co. (NASDAQ:NEOG) Shares Bought by Prudential Financial Inc.

Prudential Financial Inc. raised its position in Neogen Co. (NASDAQ:NEOG) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,001 shares of the company’s stock after purchasing an additional 310 shares during the quarter. Prudential Financial Inc. owned about 0.16% of Neogen worth $5,342,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Bridge City Capital LLC raised its stake in shares of Neogen by 0.5% in the 2nd quarter. Bridge City Capital LLC now owns 31,541 shares of the company’s stock valued at $1,959,000 after acquiring an additional 154 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Neogen by 1.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 17,740 shares of the company’s stock valued at $1,101,000 after acquiring an additional 189 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in shares of Neogen by 1.8% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 15,580 shares of the company’s stock valued at $968,000 after acquiring an additional 270 shares during the period. Manchester Capital Management LLC raised its stake in shares of Neogen by 105.6% in the 1st quarter. Manchester Capital Management LLC now owns 590 shares of the company’s stock valued at $34,000 after acquiring an additional 303 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of Neogen by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 20,137 shares of the company’s stock valued at $1,156,000 after acquiring an additional 364 shares during the period. Institutional investors own 90.76% of the company’s stock.

In other Neogen news, Director James L. Herbert sold 15,000 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 226,970 shares of the company’s stock, valued at approximately $16,266,939.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jack C. Parnell sold 439 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $70.00, for a total transaction of $30,730.00. Following the completion of the sale, the director now directly owns 5,000 shares in the company, valued at $350,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 136,198 shares of company stock worth $9,134,839. Insiders own 1.70% of the company’s stock.

NEOG traded up $0.63 during trading hours on Friday, hitting $77.87. 5,201 shares of the company’s stock were exchanged, compared to its average volume of 159,218. Neogen Co. has a 12-month low of $50.60 and a 12-month high of $97.38. The firm has a 50 day moving average of $70.70 and a 200 day moving average of $62.63. The firm has a market cap of $3.84 billion, a P/E ratio of 67.61, a price-to-earnings-growth ratio of 6.00 and a beta of 1.42.

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

NEOG has been the topic of a number of research analyst reports. Craig Hallum boosted their price target on shares of Neogen from $72.00 to $78.00 and gave the company an “in-line” rating in a research note on Wednesday, July 24th. BidaskClub raised shares of Neogen from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. ValuEngine raised shares of Neogen from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Zacks Investment Research downgraded shares of Neogen from a “hold” rating to a “sell” rating and set a $68.00 price target on the stock. in a research note on Friday, June 21st. Finally, Guggenheim initiated coverage on shares of Neogen in a research note on Thursday, May 23rd. They issued a “neutral” rating on the stock. One equities 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 issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $73.00.

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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