Neogen Corp. (NEOG) CEO James L. Herbert Sells 12,000 Shares
Neogen Corp. (NASDAQ:NEOG) CEO James L. Herbert sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $55.22, for a total value of $662,640.00. Following the completion of the sale, the chief executive officer now directly owns 886,045 shares in the company, valued at $48,927,404.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Neogen Corp. (NASDAQ:NEOG) opened at 55.42 on Wednesday. The company has a market capitalization of $2.09 billion, a PE ratio of 56.55 and a beta of 1.41. The stock’s 50 day moving average price is $57.68 and its 200 day moving average price is $53.14. Neogen Corp. has a 12-month low of $43.79 and a 12-month high of $61.24.
Neogen Corp. (NASDAQ:NEOG) last issued its quarterly earnings data on Tuesday, September 27th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.26. The company had revenue of $83.65 million for the quarter. Neogen Corp. had a net margin of 11.25% and a return on equity of 9.36%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 earnings per share. On average, equities analysts anticipate that Neogen Corp. will post $1.12 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. Eqis Capital Management Inc. purchased a new position in Neogen Corp. during the third quarter valued at about $271,000. Mason Street Advisors LLC purchased a new position in Neogen Corp. during the second quarter valued at about $413,000. Schwab Charles Investment Management Inc. raised its position in Neogen Corp. by 1.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 132,039 shares of the company’s stock valued at $7,428,000 after buying an additional 2,334 shares in the last quarter. Amalgamated Bank purchased a new position in Neogen Corp. during the second quarter valued at about $243,000. Finally, FDx Advisors Inc. raised its position in Neogen Corp. by 6.4% in the second quarter. FDx Advisors Inc. now owns 5,188 shares of the company’s stock valued at $292,000 after buying an additional 313 shares in the last quarter. 86.79% of the stock is currently owned by institutional investors and hedge funds.
NEOG has been the topic of several analyst reports. Zacks Investment Research cut Neogen Corp. from a “hold” rating to a “sell” rating in a research report on Saturday, July 23rd. Craig Hallum raised Neogen Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, August 9th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Neogen Corp. currently has a consensus rating of “Hold” and a consensus target price of $58.25.
Neogen Corp. Company Profile
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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