Riverbridge Partners Lowers stake in Neogen Corporation (NEOG)

Neogen Corporation (NEOG) : Riverbridge Partners reduced its stake in Neogen Corporation by 2.54% during the most recent quarter end. The investment management company now holds a total of 1,376,208 shares of Neogen Corporation which is valued at $76,063,016 after selling 35,864 shares in Neogen Corporation , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Neogen Corporation makes up approximately 1.53% of Riverbridge Partners’s portfolio.

Other Hedge Funds, Including , Quadrant Capital Group boosted its stake in NEOG in the latest quarter, The investment management firm added 6 additional shares and now holds a total of 128 shares of Neogen Corporation which is valued at $7,059.Norris Perne French Llpmi boosted its stake in NEOG in the latest quarter, The investment management firm added 637 additional shares and now holds a total of 11,237 shares of Neogen Corporation which is valued at $621,069. Neogen Corporation makes up approx 0.13% of Norris Perne French Llpmi’s portfolio. Simplex Trading sold out all of its stake in NEOG during the most recent quarter. The investment firm sold 87 shares of NEOG which is valued $4,861.Bnp Paribas Arbitrage Sa boosted its stake in NEOG in the latest quarter, The investment management firm added 6,058 additional shares and now holds a total of 11,714 shares of Neogen Corporation which is valued at $685,972.

Neogen Corporation closed down -0.16 points or -0.29% at $55.11 with 71,459 shares getting traded on Thursday. Post opening the session at $55.14, the shares hit an intraday low of $54.99 and an intraday high of $55.66 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Neogen Corporation reported $0.26 EPS for the quarter, based on the information available during the earnings call on Jul 19, 2016. Analyst had a consensus estimate of $0.26. The company had revenue of $90.10 million for the quarter, compared to analysts expectations of $86.11 million. The company’s revenue was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 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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