Nichols Asset Management Lowers stake in Neogen Corporation (NEOG)

Neogen Corporation (NEOG) : Nichols Asset Management reduced its stake in Neogen Corporation by 24.58% during the most recent quarter end. The investment management company now holds a total of 145,074 shares of Neogen Corporation which is valued at $7,021,582 after selling 47,287 shares in Neogen Corporation , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Neogen Corporation makes up approximately 1.51% of Nichols Asset Management’s portfolio.

Neogen Corporation opened for trading at $48.14 and hit $48.57 on the upside on Wednesday, eventually ending the session at $48.31, with a gain of 0.65% or 0.31 points. The heightened volatility saw the trading volume jump to 89,848 shares. Company has a market cap of $1,813 M.

Other Hedge Funds, Including , Strs Ohio boosted its stake in NEOG in the latest quarter, The investment management firm added 3,300 additional shares and now holds a total of 5,800 shares of Neogen Corporation which is valued at $280,720. Neogen Corporation makes up approx 0.02% of Strs Ohio’s portfolio.Private Trust Co Na boosted its stake in NEOG in the latest quarter, The investment management firm added 20,958 additional shares and now holds a total of 44,406 shares of Neogen Corporation which is valued at $2,149,250. Neogen Corporation makes up approx 0.57% of Private Trust Co Na’s portfolio.Simplex Trading reduced its stake in NEOG by selling 849 shares or 90.71% in the most recent quarter. The Hedge Fund company now holds 87 shares of NEOG which is valued at $4,167.Carnegie Capital Asset Management reduced its stake in NEOG by selling 226 shares or 0.21% in the most recent quarter. The Hedge Fund company now holds 107,908 shares of NEOG which is valued at $5,168,793. Neogen Corporation makes up approx 0.78% of Carnegie Capital Asset Management’s portfolio.Capstone Asset Management Co reduced its stake in NEOG by selling 480 shares or 3.59% in the most recent quarter. The Hedge Fund company now holds 12,886 shares of NEOG which is valued at $617,239. Neogen Corporation makes up approx 0.02% of Capstone Asset Management Co’s portfolio.

On the company’s financial health, Neogen Corporation reported $0.22 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Mar 23, 2016. Analyst had a consensus of $0.24. The company had revenue of $76.73 million for the quarter, compared to analysts expectations of $78.47 million. The company’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS.

Neogen Corporation develops manufactures and markets a diverse line of products dedicated to food and animal safety. The Company has two segments: Food Safety and Animal Safety. The Food Safety segment is engaged in the development production and marketing of 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. The Animal Safety segment is engaged in the development production and marketing of products dedicated to animal safety including a complete line of consumable products marketed to veterinarians and animal health product distributors. It also provides genomic identification and related interpretive bioinformatics services. Additionally the Animal Safety segment produces and markets rodenticides disinfectants and insecticides to assist in control of rodents insects and disease in and around agricultural food production and other facilities.

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