Natixis Advisors L.P. bought a new position in shares of Neogen Co. (NASDAQ:NEOG – Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 81,623 shares of the company’s stock, valued at approximately $1,512,000.
Other hedge funds also recently added to or reduced their stakes in the company. IFP Advisors Inc acquired a new stake in Neogen during the 1st quarter worth approximately $57,000. Park Place Capital Corp purchased a new stake in shares of Neogen in the 1st quarter valued at approximately $25,000. AdvisorNet Financial Inc purchased a new stake in shares of Neogen in the 1st quarter valued at approximately $25,000. Lindbrook Capital LLC purchased a new stake in shares of Neogen in the 1st quarter valued at approximately $29,000. Finally, Allworth Financial LP purchased a new stake in shares of Neogen in the 1st quarter valued at approximately $33,000. 96.73% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Neogen news, Director William T. Boehm sold 1,500 shares of the firm’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $22.59, for a total transaction of $33,885.00. Following the transaction, the director now directly owns 24,509 shares of the company’s stock, valued at approximately $553,658.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.73% of the stock is currently owned by insiders.
Neogen Stock Up 0.9 %
Neogen (NASDAQ:NEOG – Get Free Report) last posted its earnings results on Thursday, July 27th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.11. The firm had revenue of $241.80 million for the quarter, compared to the consensus estimate of $227.72 million. Neogen had a negative net margin of 2.78% and a positive return on equity of 4.06%. The company’s revenue was up 71.4% on a year-over-year basis. During the same period last year, the firm posted $0.18 EPS. Sell-side analysts anticipate that Neogen Co. will post 0.6 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on NEOG shares. Wells Fargo & Company increased their price objective on shares of Neogen from $22.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday, August 14th. Piper Sandler increased their price objective on shares of Neogen from $19.00 to $24.00 in a research report on Monday, August 7th. Finally, StockNews.com initiated coverage on shares of Neogen in a research report on Thursday, August 17th. They issued a “sell” rating on the stock.
Get Our Latest Stock Analysis on NEOG
Neogen Profile
Neogen Corporation, together with its subsidiaries, engages in the development, manufacture, and marketing of various products and services dedicated to food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment offers diagnostic test kits and related products to detect dangerous and unintended substances in food and animal feed, including 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 to detect the presence of adenosine triphosphate, a chemical found in living cells, as well as provides genomics-based diagnostic technology and software systems that help testers to objectively analyze and store their results and perform analysis on the results from multiple locations over extended periods.
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