Neogen Corp. (NASDAQ:NEOG) VP Terri A. Morrical sold 9,600 shares of Neogen Corp. stock in a transaction on Thursday, September 29th. The shares were sold at an average price of $54.14, for a total value of $519,744.00. Following the completion of the transaction, the vice president now owns 44,384 shares in the company, valued at approximately $2,402,949.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Neogen Corp. (NASDAQ:NEOG) opened at 55.94 on Friday. The stock’s 50 day moving average price is $57.76 and its 200-day moving average price is $53.03. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 57.08 and a beta of 1.28. Neogen Corp. has a 12 month low of $43.79 and a 12 month high of $61.24.
Neogen Corp. (NASDAQ:NEOG) last released its quarterly earnings data on Tuesday, September 27th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.26. The business earned $83.65 million during the quarter. Neogen Corp. had a net margin of 11.25% and a return on equity of 9.36%. Neogen Corp.’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.25 earnings per share. Equities analysts forecast that Neogen Corp. will post $1.12 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. Advisor Group Inc. bought a new position in Neogen Corp. during the second quarter worth about $119,000. BlackRock Inc. raised its stake in 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 during the last quarter. Tower Research Capital LLC TRC acquired a new stake in Neogen Corp. during the second quarter worth $132,000. Sei Investments Co. raised its stake in 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 during the last quarter. Finally, Rehmann Capital Advisory Group acquired a new stake in Neogen Corp. during the second quarter worth $219,000. Institutional investors and hedge funds own 86.79% of the company’s stock.
NEOG has been the topic of several research reports. Zacks Investment Research raised Neogen Corp. from a “sell” rating to a “hold” rating in a research report on Friday, June 3rd. Craig Hallum raised Neogen Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, August 9th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company 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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