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 downgraded shares of Neogen Corp. from a buy rating to a hold rating in a research note on Monday, August 29th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Neogen Corp. presently has an average rating of Hold and a consensus price target of $58.25.
Neogen Corp. (NASDAQ:NEOG) traded down 1.41% during midday trading on Friday, hitting $55.15. The stock had a trading volume of 12,469 shares. The company’s 50 day moving average is $57.76 and its 200 day moving average is $53.03. Neogen Corp. has a 1-year low of $43.79 and a 1-year high of $61.24. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 56.28 and a beta of 1.41.
Neogen Corp. (NASDAQ:NEOG) last posted its quarterly earnings data 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 net margin of 11.25% and a return on equity of 9.36%. The company earned $83.65 million during the quarter. During the same quarter in the prior year, the company earned $0.25 earnings per share. The company’s quarterly revenue was up 11.7% on a year-over-year basis. On average, equities analysts anticipate that Neogen Corp. will post $1.12 earnings per share for the current fiscal year.
In related news, VP Edward Bradley sold 20,196 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $55.60, for a total value of $1,122,897.60. Following the completion of the sale, the vice president now directly owns 126,730 shares in the company, valued at approximately $7,046,188. The sale was disclosed in a document filed 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 dated Thursday, August 4th. The shares were sold at an average price of $55.13, for a total transaction of $462,706.09. Following the completion of the sale, the chief executive officer now owns 906,175 shares of the company’s stock, valued at $49,957,427.75. The disclosure for this sale can be found here. 4.70% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of NEOG. Henderson Group PLC increased its stake in shares of Neogen Corp. by 57.6% in the second quarter. Henderson Group PLC now owns 573,997 shares of the company’s stock valued at $32,287,000 after buying an additional 209,783 shares during the period. Loomis Sayles & Co. L P increased its stake in shares of Neogen Corp. by 91.5% in the first quarter. Loomis Sayles & Co. L P now owns 413,041 shares of the company’s stock valued at $20,797,000 after buying an additional 197,383 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of 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 during the period. Strs Ohio increased its stake in shares of Neogen Corp. by 1,827.6% in the second quarter. Strs Ohio now owns 111,800 shares of the company’s stock valued at $6,288,000 after buying an additional 106,000 shares during the period. Finally, Emerald Acquisition Ltd. bought a new stake in shares of Neogen Corp. during the second quarter valued at about $5,945,000. Institutional investors and hedge funds own 86.79% of the company’s stock.
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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