Neogen Co. (NEOG) Stake Increased by RMB Capital Management LLC

RMB Capital Management LLC lifted its position in Neogen Co. (NASDAQ:NEOG) by 32.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,498 shares of the company’s stock after acquiring an additional 7,765 shares during the quarter. RMB Capital Management LLC owned approximately 0.06% of Neogen worth $1,795,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of Neogen by 8.9% in the 4th quarter. Geode Capital Management LLC now owns 619,557 shares of the company’s stock worth $35,314,000 after acquiring an additional 50,624 shares in the last quarter. Captrust Financial Advisors grew its position in Neogen by 47.0% during the fourth quarter. Captrust Financial Advisors now owns 970 shares of the company’s stock valued at $55,000 after buying an additional 310 shares during the period. California State Teachers Retirement System grew its position in Neogen by 2.4% during the fourth quarter. California State Teachers Retirement System now owns 78,767 shares of the company’s stock valued at $4,490,000 after buying an additional 1,830 shares during the period. Gideon Capital Advisors Inc. grew its position in Neogen by 38.3% during the fourth quarter. Gideon Capital Advisors Inc. now owns 4,469 shares of the company’s stock valued at $255,000 after buying an additional 1,237 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Neogen by 6.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 678,687 shares of the company’s stock valued at $38,684,000 after buying an additional 41,051 shares during the period. Hedge funds and other institutional investors own 87.41% of the company’s stock.

NEOG opened at $62.21 on Friday. The stock has a market cap of $3.21 billion, a P/E ratio of 51.41, a P/E/G ratio of 5.12 and a beta of 1.35. Neogen Co. has a fifty-two week low of $52.10 and a fifty-two week high of $97.38.

Neogen (NASDAQ:NEOG) last issued its earnings results on Thursday, December 20th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The firm had revenue of $107.10 million during the quarter, compared to analyst estimates of $108.52 million. Neogen had a net margin of 15.88% and a return on equity of 11.45%. The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the business earned $0.33 earnings per share. On average, equities analysts forecast that Neogen Co. will post 1.21 EPS for the current year.

Several equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Neogen from a “hold” rating to a “sell” rating in a research report on Wednesday, December 5th. BidaskClub lowered shares of Neogen from a “sell” rating to a “strong sell” rating in a research report on Saturday, March 9th. ValuEngine upgraded shares of Neogen from a “hold” rating to a “buy” rating in a research report on Thursday, January 24th. Finally, Roth Capital restated a “neutral” rating on shares of Neogen in a research report on Friday, December 14th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Neogen has a consensus rating of “Hold” and a consensus price target of $66.33.

In other Neogen news, Director James L. Herbert sold 23,419 shares of the stock in a transaction dated Wednesday, January 30th. The shares were sold at an average price of $59.06, for a total transaction of $1,383,126.14. Following the completion of the transaction, the director now owns 706,484 shares in the company, valued at $41,724,945.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James L. Herbert sold 10,262 shares of the stock in a transaction dated Monday, February 11th. The stock was sold at an average price of $61.60, for a total transaction of $632,139.20. The disclosure for this sale can be found here. Insiders have sold 88,815 shares of company stock valued at $5,351,275 in the last quarter. Company insiders own 3.00% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Neogen Co. (NEOG) Stake Increased by RMB Capital Management LLC” was reported by PressOracle and is the property of of PressOracle. If you are reading this news story on another website, it was copied illegally and republished in violation of U.S. and international copyright law. The original version of this news story can be accessed at https://pressoracle.com/news/2019/03/17/neogen-co-neog-stake-increased-by-rmb-capital-management-llc.html.

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.

Recommended Story: Bollinger Bands

Institutional Ownership by Quarter for Neogen (NASDAQ:NEOG)

Receive News & Ratings for Neogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Neogen and related companies with MarketBeat.com's FREE daily email newsletter.