Neogen Co. (NASDAQ:NEOG) Director James L. Herbert sold 20,000 shares of Neogen stock in a transaction on Friday, November 1st. The shares were sold at an average price of $64.81, for a total value of $1,296,200.00. Following the transaction, the director now directly owns 186,970 shares of the company’s stock, valued at $12,117,525.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of NASDAQ NEOG opened at $65.01 on Thursday. The stock has a market cap of $3.42 billion, a PE ratio of 56.53, a PEG ratio of 5.36 and a beta of 1.37. The business has a fifty day moving average of $66.43 and a two-hundred day moving average of $64.82. Neogen Co. has a 52-week low of $50.60 and a 52-week high of $79.83.
Neogen (NASDAQ:NEOG) last issued its quarterly earnings data on Tuesday, September 24th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.01). Neogen had a net margin of 14.32% and a return on equity of 9.46%. The company had revenue of $101.42 million for the quarter, compared to the consensus estimate of $105.16 million. During the same period in the previous year, the business posted $0.29 earnings per share. The firm’s revenue was up 1.8% compared to the same quarter last year. Equities analysts forecast that Neogen Co. will post 1.22 EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in NEOG. Brown Capital Management LLC raised its holdings in shares of Neogen by 3.7% in the second quarter. Brown Capital Management LLC now owns 6,582,835 shares of the company’s stock valued at $408,860,000 after buying an additional 236,702 shares during the last quarter. Riverbridge Partners LLC raised its holdings in shares of Neogen by 26.2% in the second quarter. Riverbridge Partners LLC now owns 1,064,724 shares of the company’s stock valued at $66,130,000 after buying an additional 221,143 shares during the last quarter. Nuveen Asset Management LLC bought a new position in shares of Neogen in the second quarter valued at about $12,894,000. Morgan Stanley raised its holdings in shares of Neogen by 326.6% in the second quarter. Morgan Stanley now owns 262,113 shares of the company’s stock valued at $16,280,000 after buying an additional 200,668 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Neogen by 2.1% in the second quarter. BlackRock Inc. now owns 7,643,175 shares of the company’s stock valued at $474,718,000 after buying an additional 160,186 shares during the last quarter. 90.10% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have issued reports on NEOG shares. Zacks Investment Research cut Neogen from a “hold” rating to a “sell” rating and set a $70.00 price objective for the company. in a report on Friday, October 18th. BidaskClub cut Neogen from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. ValuEngine cut Neogen from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Finally, Craig Hallum lifted their price objective on Neogen from $72.00 to $78.00 and gave the company an “in-line” rating in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $74.00.
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.
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