Insider Selling: Neogen Corp. (NEOG) CFO Sells 3,000 Shares of Stock
Neogen Corp. (NASDAQ:NEOG) CFO Steven J. Quinlan sold 3,000 shares of Neogen Corp. stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $55.15, for a total value of $165,450.00. Following the sale, the chief financial officer now owns 13,103 shares of the company’s stock, valued at approximately $722,630.45. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Neogen Corp. (NASDAQ:NEOG) opened at 55.88 on Tuesday. The stock has a market capitalization of $2.11 billion, a PE ratio of 57.02 and a beta of 1.41. The company’s 50 day moving average price is $57.72 and its 200-day moving average price is $53.11. Neogen Corp. has a one year low of $43.79 and a one year high of $61.24.
Neogen Corp. (NASDAQ:NEOG) last issued its quarterly earnings results on Tuesday, September 27th. The company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. The business earned $83.65 million during the quarter. Neogen Corp. had a return on equity of 9.36% and a net margin of 11.25%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.25 EPS. Analysts expect that Neogen Corp. will post $1.12 earnings per share for the current year.
A number of analysts have recently issued reports on NEOG shares. Zacks Investment Research downgraded Neogen Corp. from a “hold” rating to a “sell” rating in a research report on Saturday, July 23rd. Craig Hallum upgraded Neogen Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, August 9th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Neogen Corp. has a consensus rating of “Hold” and an average price target of $58.25.
A number of hedge funds have recently modified their holdings of the company. Mason Street Advisors LLC bought a new stake in shares of Neogen Corp. during the second quarter worth approximately $413,000. Schwab Charles Investment Management Inc. boosted its stake in shares of Neogen Corp. by 1.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 132,039 shares of the company’s stock worth $7,428,000 after buying an additional 2,334 shares during the last quarter. Amalgamated Bank bought a new stake in shares of Neogen Corp. during the second quarter worth approximately $243,000. FDx Advisors Inc. boosted its stake in shares of Neogen Corp. by 6.4% in the second quarter. FDx Advisors Inc. now owns 5,188 shares of the company’s stock worth $292,000 after buying an additional 313 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of Neogen Corp. by 1.0% in the second quarter. Arizona State Retirement System now owns 19,441 shares of the company’s stock worth $1,094,000 after buying an additional 200 shares during the last quarter. 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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