Neogen Corp. (NASDAQ:NEOG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.

According to Zacks, “Neogen Corporation develops, manufactures, and markets a diverse line of products dedicated to food and animal safety. The company’s food safety segment consists primarily of diagnostic test kits and related products, including dehydrated culture media, marketed to food producers and processors to aid in the detection of foodborne bacteria, natural toxins, food allergens, drug residues, pesticide residues, plant disease infections and levels of general sanitation. “

Separately, Craig Hallum raised shares of Neogen Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, August 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $58.25.

Neogen Corp. (NASDAQ:NEOG) opened at 55.71 on Tuesday. Neogen Corp. has a 1-year low of $43.79 and a 1-year high of $61.24. The firm has a market capitalization of $2.10 billion, a P/E ratio of 56.85 and a beta of 1.41. The stock has a 50 day moving average of $57.55 and a 200-day moving average of $53.33.

Neogen Corp. (NASDAQ:NEOG) last released its earnings results on Tuesday, September 27th. The company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. Neogen Corp. had a net margin of 11.25% and a return on equity of 9.36%. The firm earned $83.65 million during the quarter. During the same period in the prior year, the firm posted $0.25 EPS. Neogen Corp.’s revenue was up 11.7% on a year-over-year basis. On average, equities research analysts anticipate that Neogen Corp. will post $1.12 earnings per share for the current year.

In other news, CEO James L. Herbert sold 24,070 shares of Neogen Corp. stock in a transaction on Friday, August 5th. The shares were sold at an average price of $55.41, for a total transaction of $1,333,718.70. Following the transaction, the chief executive officer now directly owns 900,539 shares of the company’s stock, valued at $49,898,865.99. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Edward Bradley sold 20,196 shares of Neogen Corp. stock in a transaction on Monday, August 1st. The stock was sold at an average price of $55.60, for a total transaction of $1,122,897.60. Following the transaction, the vice president now directly owns 126,730 shares in the company, valued at $7,046,188. The disclosure for this sale can be found here. Insiders own 4.70% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. PineBridge Investments L.P. boosted its stake in Neogen Corp. by 4.0% in the second quarter. PineBridge Investments L.P. now owns 4,760 shares of the company’s stock valued at $267,000 after buying an additional 185 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Neogen Corp. by 1.1% in the second quarter. Nisa Investment Advisors LLC now owns 19,125 shares of the company’s stock valued at $1,076,000 after buying an additional 200 shares in the last quarter. Arizona State Retirement System boosted its stake in Neogen Corp. by 1.0% in the second quarter. Arizona State Retirement System now owns 19,441 shares of the company’s stock valued at $1,094,000 after buying an additional 200 shares in the last quarter. FDx Advisors Inc. boosted its stake 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. Finally, BlackRock Advisors LLC boosted its stake in Neogen Corp. by 2.0% in the second quarter. BlackRock Advisors LLC now owns 17,483 shares of the company’s stock valued at $983,000 after buying an additional 346 shares in the last quarter. 86.51% of the stock is currently owned by institutional investors.

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.

5 Day Chart for NASDAQ:NEOG

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