Neogen (NEOG) Reaches New 12-Month High and Low at $68.42

Neogen (NASDAQ:NEOG) hit a new 52-week high and low on Thursday . The stock traded as low as $68.42 and last traded at $67.77, with a volume of 46221 shares changing hands. The stock had previously closed at $67.27.

Several equities research analysts recently weighed in on NEOG shares. Roth Capital set a $62.00 price target on shares of Neogen and gave the company a “hold” rating in a research report on Thursday, January 4th. BidaskClub raised shares of Neogen from a “hold” rating to a “buy” rating in a research report on Friday, February 16th. Zacks Investment Research raised shares of Neogen from a “hold” rating to a “strong-buy” rating and set a $69.00 price target for the company in a research report on Saturday, January 6th. Stephens reissued a “hold” rating and set a $65.00 price target (up previously from $62.00) on shares of Neogen in a research report on Monday, March 26th. Finally, ValuEngine raised shares of Neogen from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $65.25.

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The stock has a market cap of $3,469.99, a price-to-earnings ratio of 78.26, a P/E/G ratio of 4.06 and a beta of 1.27.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings results on Thursday, March 22nd. The company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.08. The company had revenue of $95.90 million during the quarter, compared to the consensus estimate of $97.93 million. Neogen had a net margin of 14.82% and a return on equity of 11.49%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 earnings per share. equities research analysts predict that Neogen will post 1.1 EPS for the current year.

In other Neogen news, Director Thomas H. Reed sold 6,000 shares of Neogen stock in a transaction that occurred on Friday, March 23rd. The shares were sold at an average price of $62.47, for a total value of $374,820.00. Following the completion of the sale, the director now owns 19,375 shares of the company’s stock, valued at approximately $1,210,356.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Steven J. Quinlan sold 5,000 shares of Neogen stock in a transaction that occurred on Tuesday, March 27th. The stock was sold at an average price of $66.13, for a total transaction of $330,650.00. Following the completion of the sale, the chief financial officer now directly owns 15,203 shares of the company’s stock, valued at approximately $1,005,374.39. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,382 shares of company stock valued at $4,645,383. 4.20% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of NEOG. Sei Investments Co. grew its position in Neogen by 23.1% in the 3rd 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 period. Russell Investments Group Ltd. grew its position in Neogen by 3.0% in the 3rd 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 period. American International Group Inc. grew its position in Neogen by 5.7% in the 3rd quarter. American International Group Inc. now owns 29,523 shares of the company’s stock worth $2,287,000 after purchasing an additional 1,601 shares during the period. Legal & General Group Plc grew its position in Neogen by 2.7% in the 3rd quarter. Legal & General Group Plc now owns 75,156 shares of the company’s stock worth $5,820,000 after purchasing an additional 1,971 shares during the period. Finally, Wells Fargo & Company MN grew its position in Neogen by 6.6% in the 3rd quarter. Wells Fargo & Company MN now owns 173,017 shares of the company’s stock worth $13,402,000 after purchasing an additional 10,667 shares during the period. 67.69% of the stock is owned by institutional investors and hedge funds.

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Neogen Company Profile

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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