Insider Selling: Neogen Corporation (NASDAQ:NEOG) Director Sells 4,333 Shares of Stock
Neogen Corporation (NASDAQ:NEOG) Director Ronald D. Green sold 4,333 shares of Neogen Corporation stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $68.49, for a total transaction of $296,767.17. Following the transaction, the director now directly owns 3,333 shares of the company’s stock, valued at $228,277.17. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Shares of Neogen Corporation (NEOG) traded down 0.258% on Thursday, hitting $67.595. 4,876 shares of the stock traded hands. The firm’s 50 day moving average is $67.25 and its 200-day moving average is $64.91. The company has a market cap of $2.58 billion, a PE ratio of 59.294 and a beta of 1.52. Neogen Corporation has a 12 month low of $50.53 and a 12 month high of $69.97.
Neogen Corporation (NASDAQ:NEOG) last posted its quarterly earnings data on Tuesday, July 18th. The company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. The firm had revenue of $98.80 million during the quarter, compared to analysts’ expectations of $100.80 million. Neogen Corporation had a return on equity of 9.87% and a net margin of 12.11%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.26 EPS. Equities analysts predict that Neogen Corporation will post $1.30 earnings per share for the current year.
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NEOG has been the subject of several recent analyst reports. BidaskClub lowered shares of Neogen Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Zacks Investment Research raised shares of Neogen Corporation from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a report on Thursday, July 20th. Finally, CL King initiated coverage on shares of Neogen Corporation in a report on Friday, July 14th. They issued a “neutral” rating for the company.
A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Neogen Corporation by 149,314.6% in the first quarter. BlackRock Inc. now owns 4,466,002 shares of the company’s stock valued at $292,745,000 after buying an additional 4,463,013 shares during the period. Vanguard Group Inc. boosted its stake in Neogen Corporation by 5.7% in the first quarter. Vanguard Group Inc. now owns 3,257,469 shares of the company’s stock valued at $213,527,000 after buying an additional 176,056 shares during the period. Cortina Asset Management LLC boosted its stake in Neogen Corporation by 168.9% in the first quarter. Cortina Asset Management LLC now owns 280,079 shares of the company’s stock valued at $18,359,000 after buying an additional 175,904 shares during the period. Royce & Associates LP boosted its stake in Neogen Corporation by 286.0% in the first quarter. Royce & Associates LP now owns 151,300 shares of the company’s stock valued at $9,918,000 after buying an additional 112,100 shares during the period. Finally, OppenheimerFunds Inc. boosted its stake in Neogen Corporation by 2,910.7% in the first quarter. OppenheimerFunds Inc. now owns 96,885 shares of the company’s stock valued at $6,351,000 after buying an additional 93,667 shares during the period. Institutional investors own 85.53% of the company’s stock.
About Neogen Corporation
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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