Insider Selling: Neogen Corporation (NASDAQ:NEOG) VP Sells $274,720.00 in Stock
Neogen Corporation (NASDAQ:NEOG) VP Steven J. Quinlan sold 4,000 shares of the stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $68.68, for a total value of $274,720.00. Following the transaction, the vice president now directly owns 14,103 shares in the company, valued at $968,594.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Neogen Corporation (NASDAQ:NEOG) opened at 66.95 on Friday. The company has a market capitalization of $2.56 billion, a PE ratio of 58.73 and a beta of 1.52. Neogen Corporation has a 12-month low of $50.53 and a 12-month high of $69.97. The stock’s 50 day moving average price is $67.21 and its 200 day moving average price is $64.95.
Neogen Corporation (NASDAQ:NEOG) last posted its earnings results on Tuesday, July 18th. The company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. The company had revenue of $98.80 million during the quarter, compared to the consensus estimate of $100.80 million. Neogen Corporation had a net margin of 12.11% and a return on equity of 9.87%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.26 earnings per share. On average, equities analysts anticipate that Neogen Corporation will post $1.30 EPS for the current fiscal year.
Several equities analysts have recently weighed in on NEOG shares. Zacks Investment Research cut Neogen Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, May 23rd. BidaskClub raised Neogen Corporation from a “hold” rating to a “buy” rating in a report on Saturday, June 10th. Finally, CL King started coverage on Neogen Corporation in a report on Friday, July 14th. They set a “neutral” rating on the stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of NEOG. BlackRock Inc. increased its position in Neogen Corporation by 149,314.6% in the first quarter. BlackRock Inc. now owns 4,466,002 shares of the company’s stock worth $292,745,000 after buying an additional 4,463,013 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Neogen Corporation by 5.7% in the first quarter. Vanguard Group Inc. now owns 3,257,469 shares of the company’s stock worth $213,527,000 after buying an additional 176,056 shares during the period. Cortina Asset Management LLC increased its position in shares of Neogen Corporation by 168.9% in the first quarter. Cortina Asset Management LLC now owns 280,079 shares of the company’s stock worth $18,359,000 after buying an additional 175,904 shares during the period. Royce & Associates LP increased its position in shares of Neogen Corporation by 286.0% in the first quarter. Royce & Associates LP now owns 151,300 shares of the company’s stock worth $9,918,000 after buying an additional 112,100 shares during the period. Finally, OppenheimerFunds Inc. increased its position in shares of Neogen Corporation by 2,910.7% in the first quarter. OppenheimerFunds Inc. now owns 96,885 shares of the company’s stock worth $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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