Neogen Co. (NASDAQ:NEOG) Director James L. Herbert sold 5,000 shares of Neogen stock in a transaction on Monday, May 13th. The shares were sold at an average price of $60.73, for a total value of $303,650.00. Following the transaction, the director now owns 671,484 shares in the company, valued at approximately $40,779,223.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of NEOG stock traded down $0.21 on Wednesday, reaching $58.40. 93,794 shares of the company’s stock traded hands, compared to its average volume of 203,865. Neogen Co. has a 12-month low of $50.60 and a 12-month high of $97.38. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of 48.26, a P/E/G ratio of 5.17 and a beta of 1.33.
Neogen (NASDAQ:NEOG) last issued its quarterly earnings results on Tuesday, March 26th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Neogen had a net margin of 14.96% and a return on equity of 10.48%. The business had revenue of $97.70 million for the quarter, compared to analysts’ expectations of $102.55 million. During the same quarter in the prior year, the firm posted $0.32 EPS. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, analysts anticipate that Neogen Co. will post 1.12 EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the company. Brand Asset Management Group Inc. acquired a new stake in shares of Neogen in the first quarter worth about $39,000. First Hawaiian Bank acquired a new stake in shares of Neogen in the fourth quarter worth about $26,000. Manchester Capital Management LLC lifted its position in shares of Neogen by 105.6% in the first quarter. Manchester Capital Management LLC now owns 590 shares of the company’s stock worth $34,000 after buying an additional 303 shares during the last quarter. Buffington Mohr McNeal acquired a new stake in shares of Neogen in the first quarter worth about $43,000. Finally, Captrust Financial Advisors lifted its position in shares of Neogen by 47.0% in the fourth quarter. Captrust Financial Advisors now owns 970 shares of the company’s stock worth $55,000 after buying an additional 310 shares during the last quarter. Institutional investors and hedge funds own 89.01% of the company’s stock.
A number of research analysts have recently weighed in on the company. BidaskClub downgraded Neogen from a “hold” rating to a “sell” rating in a report on Wednesday. Zacks Investment Research downgraded Neogen from a “hold” rating to a “sell” rating in a report on Monday. Finally, Craig Hallum upgraded Neogen from a “hold” rating to a “buy” rating and set a $62.76 price target on the stock in a report on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $62.76.
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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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