Neogen Corp. (NEOG) CEO James L. Herbert Sells 1,000 Shares of Stock
Neogen Corp. (NASDAQ:NEOG) CEO James L. Herbert sold 1,000 shares of the business’s stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $62.95, for a total transaction of $62,950.00. Following the sale, the chief executive officer now owns 886,212 shares in the company, valued at approximately $55,787,045.40. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Neogen Corp. (NASDAQ:NEOG) opened at 62.87 on Tuesday. The firm has a 50-day moving average price of $55.99 and a 200-day moving average price of $55.31. Neogen Corp. has a 12 month low of $43.79 and a 12 month high of $63.40. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 64.15 and a beta of 1.50.
Neogen Corp. (NASDAQ:NEOG) last released its earnings results on Tuesday, September 27th. The company reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. Neogen Corp. had a return on equity of 9.36% and a net margin of 11.25%. The business had revenue of $83.65 million for the quarter. During the same quarter in the previous year, the business earned $0.25 EPS. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. Equities research analysts expect that Neogen Corp. will post $1.12 earnings per share for the current fiscal year.
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A number of hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its stake in Neogen Corp. by 107.1% in the second quarter. BNP Paribas Arbitrage SA now owns 11,714 shares of the company’s stock worth $659,000 after buying an additional 6,058 shares during the last quarter. Conestoga Capital Advisors LLC raised its stake in Neogen Corp. by 12.3% in the third quarter. Conestoga Capital Advisors LLC now owns 877,779 shares of the company’s stock worth $49,103,000 after buying an additional 96,293 shares during the last quarter. Stephens Investment Management Group LLC raised its stake in Neogen Corp. by 0.4% in the second quarter. Stephens Investment Management Group LLC now owns 822,456 shares of the company’s stock worth $46,263,000 after buying an additional 3,063 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Neogen Corp. by 2.1% in the second quarter. Ameriprise Financial Inc. now owns 324,560 shares of the company’s stock worth $18,256,000 after buying an additional 6,534 shares during the last quarter. Finally, Bell State Bank & Trust acquired a new stake in Neogen Corp. during the second quarter worth $254,000. Institutional investors and hedge funds own 85.00% of the company’s stock.
Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered Neogen Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, October 11th. Craig Hallum lowered Neogen Corp. from a “buy” rating to a “hold” rating in a research report on Monday, August 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $58.25.
About Neogen Corp.
Neogen Corporation develops, manufactures and markets a range of products and services dedicated to food and animal safety. The Company operates through two segments: Food Safety and Animal Safety. The Food Safety segment produces and markets 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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