ValuEngine upgraded shares of Neogen (NASDAQ:NEOG) from a hold rating to a buy rating in a research note published on Monday.
A number of other research firms also recently issued reports on NEOG. Zacks Investment Research downgraded shares of Neogen from a buy rating to a hold rating in a report on Wednesday, December 6th. Stephens reaffirmed a hold rating and set a $65.00 price objective (up from $62.00) on shares of Neogen in a report on Monday, March 26th. BidaskClub raised shares of Neogen from a buy rating to a strong-buy rating in a report on Thursday, March 15th. Roth Capital began coverage on shares of Neogen in a report on Tuesday, December 5th. They set a neutral rating and a $61.50 price objective for the company. Finally, Craig Hallum lifted their price objective on shares of Neogen from $46.50 to $60.00 and gave the stock a hold rating in a report on Thursday, December 7th. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Neogen presently has a consensus rating of Hold and an average price target of $65.25.
Shares of NASDAQ NEOG traded down $0.49 during mid-day trading on Monday, reaching $67.86. 29,224 shares of the company were exchanged, compared to its average volume of 193,167. Neogen has a 52 week low of $44.63 and a 52 week high of $68.69. The company has a market capitalization of $3,469.99, a P/E ratio of 59.93, a P/E/G ratio of 4.06 and a beta of 1.27.
In other Neogen news, CFO Steven J. Quinlan sold 2,000 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $60.15, for a total value of $120,300.00. Following the completion of the sale, the chief financial officer now directly owns 15,470 shares of the company’s stock, valued at $930,520.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas H. Reed sold 6,000 shares of the business’s stock in a transaction on Friday, March 23rd. The stock was sold at an average price of $62.47, for a total transaction of $374,820.00. Following the completion of the sale, the director now directly owns 19,375 shares of the company’s stock, valued at $1,210,356.25. The disclosure for this sale can be found here. Insiders sold 77,382 shares of company stock valued at $4,645,383 over the last three months. 4.20% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of NEOG. Sei Investments Co. lifted its stake in Neogen by 23.1% in the third quarter. Sei Investments Co. now owns 10,649 shares of the company’s stock worth $824,000 after purchasing an additional 1,999 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Neogen by 3.0% in the third quarter. Russell Investments Group Ltd. now owns 33,512 shares of the company’s stock worth $2,596,000 after purchasing an additional 979 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Neogen by 9.2% in the third quarter. Ameriprise Financial Inc. now owns 406,464 shares of the company’s stock worth $31,486,000 after purchasing an additional 34,188 shares during the last quarter. American International Group Inc. raised its stake in shares of Neogen by 5.7% during the third quarter. American International Group Inc. now owns 29,523 shares of the company’s stock valued at $2,287,000 after acquiring an additional 1,601 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Neogen by 2.7% during the third quarter. Legal & General Group Plc now owns 75,156 shares of the company’s stock valued at $5,820,000 after acquiring an additional 1,971 shares during the last quarter. 67.69% of the stock is owned by institutional investors and hedge funds.
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Neogen Corporation, together with its subsidiaries, develops, manufactures, and markets various products for food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment primarily offers diagnostic test kits and complementary to detect dangerous and/or unintended substances in human food and animal feed, such as foodborne pathogens, spoilage organisms, natural toxins, food allergens, genetic modifications, ruminant by-products, meat speciation, drug residues, pesticide residues, and general sanitation concerns; and AccuPoint Advanced rapid sanitation test for adenosine triphosphate, a chemical found in living cells.
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