Prudential Financial Inc. Increases Stake in Neogen Co. (NASDAQ:NEOG)

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Prudential Financial Inc. grew its position in shares of Neogen Co. (NASDAQ:NEOG) by 0.4% in the second quarter, Holdings Channel reports. The institutional investor owned 86,001 shares of the company’s stock after buying an additional 310 shares during the period. Prudential Financial Inc.’s holdings in Neogen were worth $5,342,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in NEOG. Steward Partners Investment Advisory LLC purchased a new position in shares of Neogen in the 2nd quarter valued at about $25,000. Manchester Capital Management LLC increased its holdings 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 purchasing an additional 303 shares in the last quarter. Manchester Financial Inc. purchased a new position in shares of Neogen in the 2nd quarter valued at about $71,000. Parkside Financial Bank & Trust increased its holdings in shares of Neogen by 113.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,622 shares of the company’s stock valued at $101,000 after purchasing an additional 862 shares in the last quarter. Finally, NumerixS Investment Technologies Inc increased its holdings in shares of Neogen by 157.1% in the 1st quarter. NumerixS Investment Technologies Inc now owns 1,800 shares of the company’s stock valued at $102,000 after purchasing an additional 1,100 shares in the last quarter. Institutional investors own 90.76% of the company’s stock.

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

NASDAQ:NEOG traded up $0.63 during mid-day trading on Friday, hitting $77.87. 5,201 shares of the company’s stock traded hands, compared to its average volume of 159,218. The firm’s 50 day simple moving average is $70.70 and its 200 day simple moving average is $62.63. Neogen Co. has a 1 year low of $50.60 and a 1 year high of $97.38. The company has a market cap of $3.84 billion, a PE ratio of 67.61, a price-to-earnings-growth ratio of 6.00 and a beta of 1.42.

Neogen (NASDAQ:NEOG) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $109.80 million for the quarter, compared to analysts’ expectations of $110.14 million. During the same period last year, the company earned $0.33 EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. Research analysts anticipate that Neogen Co. will post 1.22 earnings per share for the current year.

In related news, Director James L. Herbert sold 15,000 shares of the firm’s 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 $16,266,939.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jack C. Parnell sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $69.59, for a total transaction of $347,950.00. Following the completion of the sale, the director now directly owns 531,454 shares in the company, valued at $36,983,883.86. The disclosure for this sale can be found here. Insiders sold 136,198 shares of company stock worth $9,134,839 over the last three months. Corporate insiders own 1.70% of the company’s stock.

Neogen Company 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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