Parkside Financial Bank & Trust raised its position in shares of Neogen Co. (NASDAQ:NEOG) by 113.4% in the 2nd quarter, Holdings Channel reports. The firm owned 1,622 shares of the company’s stock after acquiring an additional 862 shares during the period. Parkside Financial Bank & Trust’s holdings in Neogen were worth $101,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in NEOG. Steward Partners Investment Advisory LLC bought a new stake in shares of Neogen during the second quarter worth $25,000. Manchester Capital Management LLC grew its stake in shares of 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 stake in shares of Neogen during the first quarter worth $39,000. Ellis Investment Partners LLC bought a new stake in shares of Neogen during the first quarter worth $40,000. Finally, Buffington Mohr McNeal bought a new stake in shares of Neogen during the first quarter worth $43,000. Institutional investors and hedge funds own 89.58% of the company’s stock.
Shares of Neogen stock traded down $0.66 during trading on Friday, hitting $71.13. The company’s stock had a trading volume of 72 shares, compared to its average volume of 237,342. 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 $3.75 billion, a price-to-earnings ratio of 62.34, a price-to-earnings-growth ratio of 5.88 and a beta of 1.38. The stock has a 50-day moving average price of $67.42 and a two-hundred day moving average price of $61.74.
A number of analysts have weighed in on the stock. Craig Hallum boosted their target price on shares of Neogen from $72.00 to $78.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 24th. BidaskClub raised shares of Neogen from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. ValuEngine raised shares of Neogen from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Guggenheim assumed coverage on shares of Neogen in a research note on Thursday, May 23rd. They issued a “neutral” rating on the stock. Finally, Zacks Investment Research cut shares of Neogen from a “hold” rating to a “sell” rating and set a $68.00 price objective on the stock. in a research note on Friday, June 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $73.00.
In other Neogen news, Director James L. Herbert sold 1,000 shares of the company’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $65.00, for a total transaction of $65,000.00. Following the sale, the director now owns 564,225 shares of the company’s stock, valued at $36,674,625. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jack C. Parnell sold 439 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $70.00, for a total transaction of $30,730.00. Following the sale, the director now directly owns 5,000 shares in the company, valued at approximately $350,000. The disclosure for this sale can be found here. In the last three months, insiders sold 156,198 shares of company stock worth $10,347,839. 3.00% of the stock is currently owned by insiders.
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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