Neogen Co. (NEOG) Holdings Lowered by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in shares of Neogen Co. (NASDAQ:NEOG) by 15.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,855 shares of the company’s stock after selling 541 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Neogen were worth $164,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Neuberger Berman Group LLC grew its holdings in Neogen by 1.7% during the 3rd quarter. Neuberger Berman Group LLC now owns 659,947 shares of the company’s stock worth $47,206,000 after acquiring an additional 10,805 shares during the period. Morgan Stanley grew its holdings in Neogen by 26.7% during the 3rd quarter. Morgan Stanley now owns 209,329 shares of the company’s stock worth $14,973,000 after acquiring an additional 44,131 shares during the period. State of Alaska Department of Revenue grew its holdings in Neogen by 2.3% during the 4th quarter. State of Alaska Department of Revenue now owns 17,386 shares of the company’s stock worth $991,000 after acquiring an additional 392 shares during the period. First Hawaiian Bank acquired a new stake in Neogen during the 4th quarter worth about $26,000. Finally, Bank of Montreal Can grew its holdings in Neogen by 3.7% during the 4th quarter. Bank of Montreal Can now owns 10,196 shares of the company’s stock worth $581,000 after acquiring an additional 361 shares during the period. 89.01% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Neogen stock traded down $0.83 during trading on Monday, hitting $58.10. The stock had a trading volume of 6,399 shares, compared to its average volume of 177,818. The firm has a market capitalization of $3.07 billion, a PE ratio of 48.02, a price-to-earnings-growth ratio of 5.17 and a beta of 1.33. Neogen Co. has a 12 month low of $50.60 and a 12 month high of $97.38.

Neogen (NASDAQ:NEOG) last released its earnings results on Tuesday, March 26th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.02). Neogen had a return on equity of 10.48% and a net margin of 14.96%. The firm had revenue of $97.70 million during the quarter, compared to the consensus estimate of $102.55 million. During the same quarter last year, the business posted $0.32 EPS. Neogen’s revenue was up 3.0% compared to the same quarter last year. Equities analysts forecast that Neogen Co. will post 1.12 EPS for the current year.

A number of research firms recently weighed in on NEOG. Zacks Investment Research lowered shares of Neogen from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st. BidaskClub upgraded shares of Neogen from a “sell” rating to a “hold” rating in a report on Tuesday, April 30th. ValuEngine upgraded shares of Neogen from a “hold” rating to a “buy” rating in a report on Thursday, January 24th. Finally, Craig Hallum upgraded shares of Neogen from a “hold” rating to a “buy” rating and set a $62.76 target price for the company in a report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $62.76.

In other Neogen news, Director Jack C. Parnell sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $60.58, for a total transaction of $242,320.00. Following the transaction, the director now owns 10,439 shares of the company’s stock, valued at approximately $632,394.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Terri A. Morrical sold 7,600 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $61.69, for a total transaction of $468,844.00. Following the transaction, the vice president now directly owns 45,175 shares in the company, valued at approximately $2,786,845.75. The disclosure for this sale can be found here. Insiders have sold a total of 88,185 shares of company stock valued at $5,137,655 in the last quarter. 3.00% of the stock is currently owned by company insiders.

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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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