First Mercantile Trust Co Lowers stake in Neogen Corporation (NEOG)

Neogen Corporation (NEOG) : First Mercantile Trust Co reduced its stake in Neogen Corporation by 10.73% during the most recent quarter end. The investment management company now holds a total of 15,672 shares of Neogen Corporation which is valued at $864,311 after selling 1,883 shares in Neogen Corporation , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Neogen Corporation makes up approximately 0.12% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa reduced its stake in NEOG by selling 6,021 shares or 51.4% in the most recent quarter. The Hedge Fund company now holds 5,693 shares of NEOG which is valued at $314,994. Eqis Capital Management added NEOG to its portfolio by purchasing 4,840 company shares during the most recent quarter which is valued at $267,797. Neogen Corporation makes up approx 0.02% of Eqis Capital Management’s portfolio.

Neogen Corporation opened for trading at $55.14 and hit $55.86 on the upside on Friday, eventually ending the session at $55.15, with a gain of 0.02% or 0.01 points. The heightened volatility saw the trading volume jump to 2,05,607 shares. Company has a market cap of $2,080 M.

On the company’s financial health, Neogen Corporation reported $0.26 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Sep 27, 2016. Analyst had a consensus of $0.27. The company had revenue of $83.65 million for the quarter, compared to analysts expectations of $86.10 million. The company’s revenue was up 11.7% 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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