Stephens Investment Management Group LLC Has $38.81 Million Holdings in Neogen Co. (NASDAQ:NEOG)

Stephens Investment Management Group LLC lessened its holdings in shares of Neogen Co. (NASDAQ:NEOG) by 21.0% during the second quarter, Holdings Channel.com reports. The firm owned 624,803 shares of the company’s stock after selling 165,965 shares during the quarter. Stephens Investment Management Group LLC’s holdings in Neogen were worth $38,807,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of NEOG. Steward Partners Investment Advisory LLC bought a new position in Neogen during the second quarter worth $25,000. Manchester Capital Management LLC raised its stake in Neogen by 105.6% during the first quarter. Manchester Capital Management LLC now owns 590 shares of the company’s stock worth $34,000 after buying an additional 303 shares during the last quarter. Brand Asset Management Group Inc. bought a new position in Neogen during the first quarter worth $39,000. Ellis Investment Partners LLC bought a new position in Neogen during the first quarter worth $40,000. Finally, Buffington Mohr McNeal bought a new position in Neogen during the first quarter worth $43,000. Institutional investors own 88.13% of the company’s stock.

NEOG traded up $0.12 during midday trading on Thursday, hitting $68.58. The company had a trading volume of 2,964 shares, compared to its average volume of 272,123. Neogen Co. has a 52 week low of $50.60 and a 52 week high of $97.38. The stock has a market cap of $3.59 billion, a P/E ratio of 59.57, a price-to-earnings-growth ratio of 5.75 and a beta of 1.38. The stock’s 50 day simple moving average is $65.80.



Neogen (NASDAQ:NEOG) last posted its quarterly earnings results 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. Neogen had a net margin of 14.53% and a return on equity of 9.86%. The firm had revenue of $109.80 million during the quarter, compared to the consensus estimate of $110.14 million. During the same period in the previous year, the firm posted $0.33 earnings per share. The business’s revenue was up 1.6% compared to the same quarter last year. As a group, analysts predict that Neogen Co. will post 1.22 earnings per share for the current fiscal year.

NEOG has been the subject of a number of analyst reports. ValuEngine raised shares of Neogen from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Guggenheim initiated coverage on shares of Neogen in a research note on Thursday, May 23rd. They set a “neutral” rating for the company. Zacks Investment Research downgraded shares of Neogen from a “hold” rating to a “sell” rating and set a $68.00 target price for the company. in a research note on Friday, June 21st. BidaskClub raised shares of Neogen from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Craig Hallum lifted 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $73.00.

In other news, CFO Steven J. Quinlan sold 15,000 shares of Neogen stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 28,470 shares in the company, valued at $1,965,568.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John Edward Adent sold 31,489 shares of Neogen stock in a transaction dated 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 156,198 shares of company stock valued at $10,158,539. Insiders own 3.00% of the company’s stock.

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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