Neogen Co. (NASDAQ:NEOG) Director James L. Herbert sold 25,334 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $63.71, for a total transaction of $1,614,029.14. Following the completion of the transaction, the director now directly owns 232,304 shares of the company’s stock, valued at approximately $14,800,087.84. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Shares of Neogen stock opened at $63.90 on Friday. The company has a market capitalization of $3.35 billion, a P/E ratio of 55.57, a P/E/G ratio of 5.18 and a beta of 1.40. The company has a fifty day moving average of $70.17 and a 200 day moving average of $63.76. Neogen Co. has a fifty-two week low of $50.60 and a fifty-two week high of $79.83.
Neogen (NASDAQ:NEOG) last issued its earnings results on Tuesday, September 24th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.01). The firm had revenue of $101.42 million during the quarter, compared to the consensus estimate of $105.16 million. Neogen had a return on equity of 9.46% and a net margin of 14.32%. The company’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.29 EPS. As a group, analysts anticipate that Neogen Co. will post 1.22 earnings per share for the current fiscal year.
Several research analysts recently weighed in on NEOG shares. BidaskClub downgraded shares of Neogen from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. Zacks Investment Research downgraded shares of Neogen from a “hold” rating to a “sell” rating and set a $68.00 target price for the company. in a report on Friday, June 21st. Craig Hallum upped their target price on shares of Neogen from $72.00 to $78.00 and gave the stock an “in-line” rating in a report on Wednesday, July 24th. Finally, ValuEngine downgraded shares of Neogen from a “buy” rating to a “hold” rating in a report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. The stock currently has an average rating of “Hold” and an average price target of $73.00.
A number of institutional investors have recently modified their holdings of NEOG. Brown Capital Management LLC boosted its holdings in Neogen by 3.7% in the 2nd quarter. Brown Capital Management LLC now owns 6,582,835 shares of the company’s stock worth $408,860,000 after buying an additional 236,702 shares during the period. Riverbridge Partners LLC boosted its holdings in Neogen by 26.2% in the 2nd quarter. Riverbridge Partners LLC now owns 1,064,724 shares of the company’s stock worth $66,130,000 after buying an additional 221,143 shares during the period. Nuveen Asset Management LLC purchased a new stake in Neogen in the 2nd quarter worth $12,894,000. Morgan Stanley lifted its stake in Neogen by 326.6% in the 2nd quarter. Morgan Stanley now owns 262,113 shares of the company’s stock worth $16,280,000 after purchasing an additional 200,668 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in Neogen by 2.1% in the 2nd quarter. BlackRock Inc. now owns 7,643,175 shares of the company’s stock worth $474,718,000 after purchasing an additional 160,186 shares in the last quarter. 89.83% of the stock is owned by institutional investors.
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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