LPL Financial LLC boosted its holdings in Neogen (NASDAQ:NEOG) by 71.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,583 shares of the company’s stock after acquiring an additional 1,911 shares during the period. LPL Financial LLC’s holdings in Neogen were worth $377,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of NEOG. Wasatch Advisors Inc. raised its stake in Neogen by 619.3% in the 4th quarter. Wasatch Advisors Inc. now owns 1,023,040 shares of the company’s stock valued at $84,104,000 after acquiring an additional 880,819 shares during the period. Conestoga Capital Advisors LLC raised its stake in Neogen by 12.4% in the 4th quarter. Conestoga Capital Advisors LLC now owns 1,077,886 shares of the company’s stock valued at $88,613,000 after acquiring an additional 119,102 shares during the period. Geode Capital Management LLC raised its stake in Neogen by 33.7% in the 4th quarter. Geode Capital Management LLC now owns 451,973 shares of the company’s stock valued at $27,867,000 after acquiring an additional 113,850 shares during the period. McCollum Christoferson Group LLC bought a new stake in Neogen in the 4th quarter valued at $8,225,000. Finally, BlackRock Inc. raised its stake in Neogen by 2.0% in the 4th quarter. BlackRock Inc. now owns 4,682,052 shares of the company’s stock valued at $384,911,000 after acquiring an additional 89,642 shares during the period. Institutional investors and hedge funds own 68.14% of the company’s stock.
NEOG stock opened at $69.88 on Friday. The firm has a market cap of $3,592.25, a price-to-earnings ratio of 81.26, a PEG ratio of 4.12 and a beta of 1.27. Neogen has a fifty-two week low of $45.01 and a fifty-two week high of $70.41.
In other Neogen news, CFO Steven J. Quinlan sold 2,000 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $60.15, for a total transaction of $120,300.00. Following the transaction, the chief financial officer now owns 15,470 shares in the company, valued at approximately $930,520.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Edward Bradley sold 11,725 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $60.29, for a total value of $706,900.25. Following the transaction, the vice president now owns 21,412 shares in the company, valued at approximately $1,290,929.48. The disclosure for this sale can be found here. Insiders have sold a total of 113,702 shares of company stock worth $7,122,746 in the last quarter. Company insiders own 4.20% of the company’s stock.
A number of research firms recently weighed in on NEOG. BidaskClub cut Neogen from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Stephens reiterated a “hold” rating and set a $62.00 price objective on shares of Neogen in a research report on Wednesday, January 10th. Zacks Investment Research upgraded Neogen from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research report on Wednesday, March 28th. ValuEngine upgraded Neogen from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, Roth Capital set a $62.00 price objective on Neogen and gave the stock a “hold” rating in a research report on Thursday, January 4th. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $65.25.
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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