Neogen Co. (NASDAQ:NEOG) Director Sells $1,614,029.14 in Stock

Neogen Co. (NASDAQ:NEOG) Director James L. Herbert sold 25,334 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $63.71, for a total transaction of $1,614,029.14. Following the completion of the sale, the director now directly owns 232,304 shares in the company, valued at $14,800,087.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

NEOG traded up $0.18 during trading hours on Thursday, hitting $63.37. 5,478 shares of the company’s stock were exchanged, compared to its average volume of 303,004. Neogen Co. has a 12-month low of $50.60 and a 12-month high of $79.83. The firm has a 50 day moving average of $70.51 and a 200 day moving average of $63.72. The firm has a market cap of $3.34 billion, a P/E ratio of 55.10, a price-to-earnings-growth ratio of 5.24 and a beta of 1.40.

Neogen (NASDAQ:NEOG) last announced 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). Neogen had a return on equity of 9.46% and a net margin of 14.32%. The business had revenue of $101.42 million for the quarter, compared to analysts’ expectations of $105.16 million. During the same period in the previous year, the company earned $0.29 earnings per share. Neogen’s quarterly revenue was up 1.8% on a year-over-year basis. Analysts predict that Neogen Co. will post 1.22 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of NEOG. Steward Partners Investment Advisory LLC acquired a new stake in Neogen during the 2nd quarter worth $25,000. Captrust Financial Advisors grew its stake in Neogen by 20.0% in the 2nd quarter. Captrust Financial Advisors now owns 1,135 shares of the company’s stock valued at $70,000 after acquiring an additional 189 shares during the last quarter. Manchester Financial Inc. acquired a new stake in shares of Neogen during the 2nd quarter worth about $71,000. Private Capital Group LLC boosted its stake in shares of Neogen by 16.0% during the 2nd quarter. Private Capital Group LLC now owns 1,208 shares of the company’s stock worth $97,000 after purchasing an additional 167 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Neogen by 37.2% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,598 shares of the company’s stock worth $100,000 after purchasing an additional 433 shares during the last quarter. Institutional investors own 89.83% of the company’s stock.

A number of research firms have recently issued reports on NEOG. ValuEngine downgraded shares of Neogen from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. BidaskClub downgraded shares of Neogen from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Zacks Investment Research downgraded shares of Neogen from a “hold” rating to a “sell” rating and set a $68.00 price target on the stock. in a research note on Friday, June 21st. Finally, Craig Hallum boosted their price target on shares of Neogen from $72.00 to $78.00 and gave the company an “in-line” rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $73.00.

About Neogen

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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