Neogen Corp. (NASDAQ:NEOG) CFO Steven J. Quinlan sold 3,000 shares of the company’s stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $55.15, for a total value of $165,450.00. Following the completion of the transaction, the chief financial officer now directly owns 13,103 shares of the company’s stock, valued at approximately $722,630.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Neogen Corp. (NASDAQ:NEOG) opened at 55.88 on Tuesday. Neogen Corp. has a 52 week low of $43.79 and a 52 week high of $61.24. The company’s 50-day moving average price is $57.72 and its 200-day moving average price is $53.11. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 57.02 and a beta of 1.41.
Neogen Corp. (NASDAQ:NEOG) last issued its quarterly earnings results on Tuesday, September 27th. The company reported $0.26 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.26. Neogen Corp. had a return on equity of 9.36% and a net margin of 11.25%. The company earned $83.65 million during the quarter. During the same period in the prior year, the firm posted $0.25 EPS. The business’s revenue was up 11.7% compared to the same quarter last year. Equities analysts forecast that Neogen Corp. will post $1.12 earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the company. Advisor Group Inc. purchased a new stake in shares of Neogen Corp. during the second quarter worth approximately $119,000. BlackRock Inc. boosted its stake in shares of Neogen Corp. by 126.9% in the first quarter. BlackRock Inc. now owns 2,512 shares of the company’s stock worth $126,000 after buying an additional 1,405 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of Neogen Corp. during the second quarter worth approximately $132,000. Sei Investments Co. boosted its stake in shares of Neogen Corp. by 164.2% in the second quarter. Sei Investments Co. now owns 3,527 shares of the company’s stock worth $199,000 after buying an additional 2,192 shares in the last quarter. Finally, Rehmann Capital Advisory Group purchased a new stake in shares of Neogen Corp. during the second quarter worth approximately $219,000. 86.79% of the stock is owned by institutional investors.
NEOG has been the subject of a number of recent analyst reports. Craig Hallum raised Neogen Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, August 9th. Zacks Investment Research lowered Neogen Corp. from a “hold” rating to a “sell” rating in a research note on Saturday, July 23rd. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $58.25.
About Neogen Corp.
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.
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