Neogen Co. (NASDAQ:NEOG)’s share price reached a new 52-week high and low during trading on Tuesday . The stock traded as low as $78.89 and last traded at $78.80, with a volume of 7921 shares changing hands. The stock had previously closed at $78.11.
NEOG has been the topic of several research analyst reports. BidaskClub cut shares of Neogen from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 24th. ValuEngine raised shares of Neogen from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Zacks Investment Research raised shares of Neogen from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research note on Wednesday, March 28th. Finally, Stephens reissued a “hold” rating and set a $65.00 target price (up previously from $62.00) on shares of Neogen in a research note on Monday, March 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Neogen has a consensus rating of “Hold” and a consensus price target of $65.25.
The stock has a market cap of $4.04 billion, a price-to-earnings ratio of 92.48, a PEG ratio of 4.13 and a beta of 1.29.
Neogen (NASDAQ:NEOG) last posted its quarterly earnings data on Thursday, March 22nd. The company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.08. Neogen had a net margin of 14.82% and a return on equity of 11.49%. The company had revenue of $95.90 million during the quarter, compared to analyst estimates of $97.93 million. During the same quarter last year, the firm posted $0.27 EPS. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. analysts anticipate that Neogen Co. will post 1.18 earnings per share for the current year.
In other Neogen news, Director William T. Boehm sold 500 shares of the firm’s stock in a transaction dated Wednesday, April 18th. The shares were sold at an average price of $69.84, for a total value of $34,920.00. Following the completion of the transaction, the director now directly owns 10,480 shares in the company, valued at $731,923.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Terri A. Morrical sold 14,800 shares of the firm’s stock in a transaction dated Friday, April 6th. The stock was sold at an average price of $67.78, for a total transaction of $1,003,144.00. Following the completion of the transaction, the vice president now owns 44,775 shares of the company’s stock, valued at $3,034,849.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 117,320 shares of company stock valued at $8,194,973. Insiders own 4.20% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in shares of Neogen by 38.1% in the first quarter. BlackRock Inc. now owns 6,466,176 shares of the company’s stock worth $433,168,000 after buying an additional 1,784,124 shares during the period. Wasatch Advisors Inc. boosted its holdings in shares of Neogen by 95.1% in the first quarter. Wasatch Advisors Inc. now owns 1,995,749 shares of the company’s stock worth $133,695,000 after buying an additional 972,709 shares during the period. New York State Common Retirement Fund boosted its holdings in shares of Neogen by 24.4% in the first quarter. New York State Common Retirement Fund now owns 1,043,842 shares of the company’s stock worth $69,927,000 after buying an additional 204,495 shares during the period. King Luther Capital Management Corp boosted its holdings in shares of Neogen by 32.1% in the first quarter. King Luther Capital Management Corp now owns 958,914 shares of the company’s stock worth $64,238,000 after buying an additional 233,097 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Neogen by 7.9% in the first quarter. PNC Financial Services Group Inc. now owns 948,591 shares of the company’s stock worth $63,544,000 after buying an additional 69,600 shares during the period. Institutional investors own 89.09% of the company’s stock.
Neogen Company Profile
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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