BlackRock Inc. Buys 4,463,013 Shares of Neogen Corporation (NEOG)

BlackRock Inc. increased its stake in Neogen Corporation (NASDAQ:NEOG) by 149,314.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,466,002 shares of the company’s stock after buying an additional 4,463,013 shares during the period. BlackRock Inc. owned 0.12% of Neogen Corporation worth $292,745,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Swiss National Bank boosted its stake in Neogen Corporation by 1.0% in the first quarter. Swiss National Bank now owns 62,350 shares of the company’s stock valued at $4,087,000 after buying an additional 600 shares during the period. Ameriprise Financial Inc. boosted its stake in Neogen Corporation by 1.0% in the first quarter. Ameriprise Financial Inc. now owns 280,886 shares of the company’s stock valued at $18,412,000 after buying an additional 2,728 shares during the period. Great Lakes Advisors LLC boosted its stake in Neogen Corporation by 19.3% in the first quarter. Great Lakes Advisors LLC now owns 34,517 shares of the company’s stock valued at $2,263,000 after buying an additional 5,592 shares during the period. Prudential Financial Inc. boosted its stake in Neogen Corporation by 0.6% in the first quarter. Prudential Financial Inc. now owns 66,815 shares of the company’s stock valued at $4,380,000 after buying an additional 370 shares during the period. Finally, Karp Capital Management Corp acquired a new stake in Neogen Corporation during the first quarter valued at about $1,032,000. 86.37% of the stock is owned by institutional investors.

Shares of Neogen Corporation (NEOG) opened at 68.35 on Monday. Neogen Corporation has a 12-month low of $50.53 and a 12-month high of $69.97. The firm has a market cap of $2.61 billion, a PE ratio of 63.29 and a beta of 1.52. The stock’s 50 day moving average price is $65.13 and its 200 day moving average price is $64.62.

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NEOG has been the topic of several analyst reports. BidaskClub upgraded Neogen Corporation from a “hold” rating to a “buy” rating in a report on Saturday, June 10th. Zacks Investment Research upgraded Neogen Corporation from a “hold” rating to a “buy” rating and set a $73.00 price objective on the stock in a report on Thursday, March 23rd.

In other Neogen Corporation news, CEO James L. Herbert sold 8,107 shares of the business’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $62.01, for a total transaction of $502,715.07. Following the sale, the chief executive officer now directly owns 890,319 shares of the company’s stock, valued at approximately $55,208,681.19. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Steven J. Quinlan sold 2,676 shares of the business’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $63.68, for a total transaction of $170,407.68. Following the sale, the chief financial officer now directly owns 12,779 shares in the company, valued at $813,766.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,252 shares of company stock worth $4,294,038. Company insiders own 4.70% of the company’s stock.

Neogen Corporation Company Profile

Neogen Corporation develops, manufactures and markets a range of products and services dedicated to food and animal safety. The Company operates through two segments: Food Safety and Animal Safety. The Food Safety segment produces and markets diagnostic test kits and related products used by food producers and processors to detect harmful natural toxins, foodborne bacteria, allergens and levels of general sanitation.

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Institutional Ownership by Quarter for Neogen Corporation (NASDAQ:NEOG)

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