Neogen Corporation (NASDAQ:NEOG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Saturday. The brokerage currently has a $73.00 target price on the stock. Zacks Investment Research‘s price target points to a potential upside of 11.96% from the company’s previous close.

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. “

NEOG has been the subject of several other reports. BidaskClub lowered shares of Neogen Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. CL King initiated coverage on shares of Neogen Corporation in a research note on Friday, July 14th. They set a “neutral” rating for the company.

Shares of Neogen Corporation (NASDAQ:NEOG) opened at 65.20 on Friday. The stock has a market cap of $2.49 billion, a PE ratio of 57.19 and a beta of 1.52. Neogen Corporation has a 52 week low of $50.53 and a 52 week high of $69.97. The stock has a 50 day moving average of $66.83 and a 200-day moving average of $65.01.

Neogen Corporation (NASDAQ:NEOG) last posted its quarterly earnings data on Tuesday, July 18th. The company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The company had revenue of $98.80 million during the quarter, compared to analyst estimates of $100.80 million. Neogen Corporation had a net margin of 12.11% and a return on equity of 9.87%. Neogen Corporation’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.26 earnings per share. Equities research analysts predict that Neogen Corporation will post $1.30 earnings per share for the current fiscal year.

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In other news, VP Steven J. Quinlan sold 4,000 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $68.68, for a total transaction of $274,720.00. Following the completion of the sale, the vice president now directly owns 14,103 shares of the company’s stock, valued at $968,594.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Edward Bradley sold 5,000 shares of the business’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $68.72, for a total transaction of $343,600.00. Following the sale, the vice president now directly owns 91,512 shares of the company’s stock, valued at $6,288,704.64. The disclosure for this sale can be found here. Insiders have sold 18,333 shares of company stock valued at $1,246,737 over the last three months. Insiders own 4.70% of the company’s stock.

Several hedge funds have recently modified their holdings of NEOG. Karp Capital Management Corp bought a new stake in shares of Neogen Corporation during the first quarter worth about $1,032,000. UBS Asset Management Americas Inc. raised its stake in shares of Neogen Corporation by 19.0% in the first quarter. UBS Asset Management Americas Inc. now owns 20,838 shares of the company’s stock worth $1,366,000 after buying an additional 3,330 shares in the last quarter. Swiss National Bank raised its stake in shares of Neogen Corporation by 1.0% in the first quarter. Swiss National Bank now owns 62,350 shares of the company’s stock worth $4,087,000 after buying an additional 600 shares in the last quarter. LS Investment Advisors LLC raised its stake in shares of Neogen Corporation by 0.8% in the first quarter. LS Investment Advisors LLC now owns 42,137 shares of the company’s stock worth $2,762,000 after buying an additional 355 shares in the last quarter. Finally, Comerica Bank raised its stake in shares of Neogen Corporation by 5.2% in the first quarter. Comerica Bank now owns 45,419 shares of the company’s stock worth $2,893,000 after buying an additional 2,249 shares in the last quarter. 85.54% of the stock is owned by hedge funds and other institutional investors.

Neogen Corporation Company Profile

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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