According to Zacks, “Neogen Corporation develops, manufactures, and markets a diverse line of products dedicated to food and animal safety. The company’s food safety segment consists primarily of diagnostic test kits and related products, including dehydrated culture media, marketed to food producers and processors to aid in the detection of foodborne bacteria, natural toxins, food allergens, drug residues, pesticide residues, plant disease infections and levels of general sanitation. “
Separately, Craig Hallum cut shares of Neogen Corp. from a buy rating to a hold rating in a research note on Monday, August 29th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Neogen Corp. currently has a consensus rating of Hold and a consensus target price of $58.25.
Neogen Corp. (NASDAQ:NEOG) opened at 55.42 on Friday. Neogen Corp. has a 1-year low of $43.79 and a 1-year high of $61.24. The company’s 50-day moving average is $57.68 and its 200 day moving average is $53.14. The firm has a market capitalization of $2.09 billion, a PE ratio of 56.55 and a beta of 1.41.
Neogen Corp. (NASDAQ:NEOG) last released its earnings results on Tuesday, September 27th. The company reported $0.26 earnings per share 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 period in the prior year, the business posted $0.25 earnings per share. Neogen Corp.’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, equities analysts expect that Neogen Corp. will post $1.12 EPS for the current fiscal year.
In other Neogen Corp. news, VP Edward Bradley sold 20,196 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $55.60, for a total transaction of $1,122,897.60. Following the completion of the sale, the vice president now owns 126,730 shares of the company’s stock, valued at approximately $7,046,188. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James L. Herbert sold 8,393 shares of the firm’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $55.13, for a total value of $462,706.09. Following the sale, the chief executive officer now directly owns 906,175 shares of the company’s stock, valued at approximately $49,957,427.75. The disclosure for this sale can be found here. Company insiders own 4.70% of the company’s stock.
A number of large investors have recently made changes to their positions in NEOG. Vanguard Group Inc. increased 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 worth $164,176,000 after buying an additional 72,939 shares in the last quarter. BlackRock Fund Advisors increased 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 worth $131,998,000 after buying an additional 42,031 shares in the last quarter. PNC Financial Services Group Inc. increased 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 worth $65,246,000 after buying an additional 187,756 shares in the last quarter. Stephens Investment Management Group LLC increased 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 worth $46,263,000 after buying an additional 3,063 shares in the last quarter. Finally, State Street Corp increased 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 worth $38,252,000 after buying an additional 23,679 shares in the last quarter. 86.79% of the stock is owned by institutional investors and hedge funds.
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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