Neogen Corp. (NASDAQ:NEOG) CEO James L. Herbert sold 12,000 shares of the business’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $55.22, for a total transaction of $662,640.00. Following the completion of the sale, the chief executive officer now directly owns 886,045 shares of the company’s stock, valued at $48,927,404.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Neogen Corp. (NASDAQ:NEOG) opened at 55.33 on Thursday. The stock’s 50 day moving average is $57.65 and its 200 day moving average is $53.15. Neogen Corp. has a 52 week low of $43.79 and a 52 week high of $61.24. The company has a market capitalization of $2.09 billion, a P/E ratio of 56.46 and a beta of 1.41.
Neogen Corp. (NASDAQ:NEOG) last posted its quarterly earnings results on Tuesday, September 27th. The company reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. Neogen Corp. had a net margin of 11.25% and a return on equity of 9.36%. The business earned $83.65 million during the quarter. During the same quarter in the prior year, the firm posted $0.25 EPS. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities research analysts expect that Neogen Corp. will post $1.12 earnings per share for the current year.
Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Neogen Corp. by 2.6% in the second quarter. Vanguard Group Inc. now owns 2,918,694 shares of the company’s stock valued at $164,176,000 after buying an additional 72,939 shares in the last quarter. BlackRock Fund Advisors raised its stake in Neogen Corp. by 1.8% in the second quarter. BlackRock Fund Advisors now owns 2,346,625 shares of the company’s stock valued at $131,998,000 after buying an additional 42,031 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Neogen Corp. by 19.3% in the second quarter. PNC Financial Services Group Inc. now owns 1,159,937 shares of the company’s stock valued at $65,246,000 after buying an additional 187,756 shares in the last quarter. Stephens Investment Management Group LLC raised its stake in Neogen Corp. by 0.4% in the second quarter. Stephens Investment Management Group LLC now owns 822,456 shares of the company’s stock valued at $46,263,000 after buying an additional 3,063 shares in the last quarter. Finally, State Street Corp raised its stake in Neogen Corp. by 3.2% in the first quarter. State Street Corp now owns 759,676 shares of the company’s stock valued at $38,252,000 after buying an additional 23,679 shares in the last quarter. Institutional investors and hedge funds own 86.79% of the company’s stock.
NEOG has been the subject of several recent research reports. Craig Hallum raised shares of Neogen Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, August 9th. Zacks Investment Research raised shares of Neogen Corp. from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research note on Tuesday, September 27th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Neogen Corp. presently has an average 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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