Terri A. Morrical Sells 9,600 Shares of Neogen Corp. (NEOG) Stock
Neogen Corp. (NASDAQ:NEOG) VP Terri A. Morrical sold 9,600 shares of Neogen Corp. stock in a transaction on Thursday, September 29th. The shares were sold at an average price of $54.14, for a total value of $519,744.00. Following the completion of the sale, the vice president now directly owns 44,384 shares of the company’s stock, valued at $2,402,949.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Neogen Corp. (NASDAQ:NEOG) opened at 55.94 on Friday. The stock has a 50 day moving average price of $57.76 and a 200 day moving average price of $53.03. Neogen Corp. has a 52-week low of $43.79 and a 52-week high of $61.24. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 57.08 and a beta of 1.28.
Neogen Corp. (NASDAQ:NEOG) last released its quarterly earnings data on Tuesday, September 27th. The company reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates 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 quarter in the prior year, the firm posted $0.25 earnings per share. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. Analysts anticipate that Neogen Corp. will post $1.12 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Aperio Group LLC raised its position in Neogen Corp. by 15.6% in the first quarter. Aperio Group LLC now owns 15,150 shares of the company’s stock worth $763,000 after buying an additional 2,044 shares in the last quarter. Nisa Investment Advisors L.L.C. raised its position in Neogen Corp. by 114.4% in the first quarter. Nisa Investment Advisors L.L.C. now owns 18,925 shares of the company’s stock worth $953,000 after buying an additional 10,100 shares in the last quarter. Teachers Advisors Inc. raised its position in Neogen Corp. by 9.5% in the first quarter. Teachers Advisors Inc. now owns 60,148 shares of the company’s stock worth $3,028,000 after buying an additional 5,203 shares in the last quarter. Prudential Financial Inc. raised its position in Neogen Corp. by 3.3% in the first quarter. Prudential Financial Inc. now owns 89,795 shares of the company’s stock worth $4,521,000 after buying an additional 2,900 shares in the last quarter. Finally, BlackRock Inc. raised its position in Neogen Corp. by 126.9% in the first quarter. BlackRock Inc. now owns 2,512 shares of the company’s stock worth $126,000 after buying an additional 1,405 shares in the last quarter. Institutional investors and hedge funds own 86.79% of the company’s stock.
NEOG has been the subject of several research reports. Craig Hallum cut Neogen Corp. from a “buy” rating to a “hold” rating in a research note on Monday, August 29th. Zacks Investment Research cut Neogen Corp. from a “hold” rating to a “sell” rating in a research note on Saturday, July 23rd. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Neogen Corp. currently has a consensus rating of “Hold” and an average target price of $58.25.
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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