Neogen Co. (NASDAQ:NEOG) Position Decreased by Zebra Capital Management LLC

Zebra Capital Management LLC decreased its holdings in shares of Neogen Co. (NASDAQ:NEOG) by 9.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 9,741 shares of the company’s stock after selling 1,052 shares during the period. Zebra Capital Management LLC’s holdings in Neogen were worth $605,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Municipal Employees Retirement System of Michigan boosted its position in shares of Neogen by 1.8% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 15,580 shares of the company’s stock valued at $968,000 after purchasing an additional 270 shares in the last quarter. Azimuth Capital Management LLC boosted its position in shares of Neogen by 2.4% during the 1st quarter. Azimuth Capital Management LLC now owns 19,415 shares of the company’s stock valued at $1,114,000 after purchasing an additional 450 shares in the last quarter. OLD National Bancorp IN bought a new position in shares of Neogen during the 2nd quarter valued at about $290,000. Envestnet Asset Management Inc. boosted its position in shares of Neogen by 42.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 80,171 shares of the company’s stock valued at $4,979,000 after purchasing an additional 23,984 shares in the last quarter. Finally, Granite Investment Partners LLC boosted its position in shares of Neogen by 305.3% during the 2nd quarter. Granite Investment Partners LLC now owns 36,615 shares of the company’s stock valued at $2,274,000 after purchasing an additional 27,581 shares in the last quarter. Institutional investors own 89.92% of the company’s stock.

In related news, CEO John Edward Adent sold 31,489 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $69.03, for a total transaction of $2,173,685.67. Following the transaction, the chief executive officer now owns 44,302 shares of the company’s stock, valued at $3,058,167.06. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Steven J. Quinlan sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $69.04, for a total transaction of $1,035,600.00. Following the transaction, the chief financial officer now directly owns 28,470 shares in the company, valued at approximately $1,965,568.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 131,198 shares of company stock worth $8,826,789. Insiders own 1.70% of the company’s stock.

NEOG has been the subject of several research reports. ValuEngine upgraded shares of Neogen from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Craig Hallum raised their price objective on shares of Neogen from $72.00 to $78.00 and gave the company an “in-line” rating in a research report on Wednesday, July 24th. Zacks Investment Research lowered shares of Neogen from a “hold” rating to a “sell” rating and set a $68.00 price objective for the company. in a research report on Friday, June 21st. BidaskClub upgraded shares of Neogen from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Finally, Guggenheim began coverage on shares of Neogen in a report on Thursday, May 23rd. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Neogen currently has a consensus rating of “Hold” and an average price target of $73.00.

Shares of NEOG stock traded down $1.67 during trading on Thursday, hitting $76.33. 8,659 shares of the company were exchanged, compared to its average volume of 180,442. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 66.31, a P/E/G ratio of 6.45 and a beta of 1.42. The business’s 50-day simple moving average is $71.75 and its 200 day simple moving average is $63.11. Neogen Co. has a twelve month low of $50.60 and a twelve month high of $94.42.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.02. The firm had revenue of $109.80 million for the quarter, compared to analyst estimates of $110.14 million. Neogen had a net margin of 14.53% and a return on equity of 9.86%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 earnings per share. On average, equities analysts predict that Neogen Co. will post 1.22 earnings per share for the current year.

Neogen Profile

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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