Neogen Corporation (NEOG) Reaches New 1-Year High at $82.20
Neogen Corporation (NASDAQ:NEOG)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $82.20 and last traded at $82.38, with a volume of 48302 shares trading hands. The stock had previously closed at $81.88.
Several equities analysts recently issued reports on NEOG shares. BidaskClub lowered Neogen Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Zacks Investment Research lowered Neogen Corporation from a “buy” rating to a “hold” rating in a research report on Friday, October 13th. Finally, CL King started coverage on Neogen Corporation in a research report on Friday, July 14th. They issued a “neutral” rating for the company.
The firm has a market cap of $3,080.60, a PE ratio of 67.76, a PEG ratio of 4.10 and a beta of 1.53.
Neogen Corporation (NASDAQ:NEOG) last issued its quarterly earnings data on Tuesday, September 19th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.01. Neogen Corporation had a return on equity of 9.93% and a net margin of 12.28%. The business had revenue of $95.30 million during the quarter, compared to analyst estimates of $94.87 million. During the same period in the previous year, the firm earned $0.26 EPS. Neogen Corporation’s quarterly revenue was up 14.0% compared to the same quarter last year. equities analysts anticipate that Neogen Corporation will post 1.31 EPS for the current year.
In other Neogen Corporation news, CFO Steven J. Quinlan sold 2,772 shares of the company’s stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $73.54, for a total transaction of $203,852.88. Following the completion of the transaction, the chief financial officer now owns 12,875 shares of the company’s stock, valued at approximately $946,827.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Edward Bradley sold 13,628 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $70.06, for a total value of $954,777.68. Following the transaction, the vice president now directly owns 71,691 shares of the company’s stock, valued at approximately $5,022,671.46. The disclosure for this sale can be found here. Insiders sold a total of 149,210 shares of company stock valued at $11,168,321 over the last quarter. 4.20% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in Neogen Corporation during the 2nd quarter worth approximately $154,000. Riverhead Capital Management LLC boosted its position in Neogen Corporation by 91.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,297 shares of the company’s stock worth $159,000 after acquiring an additional 1,097 shares during the last quarter. Parametrica Management Ltd acquired a new position in Neogen Corporation during the 3rd quarter worth approximately $202,000. Victory Capital Management Inc. boosted its position in Neogen Corporation by 17.5% during the 2nd quarter. Victory Capital Management Inc. now owns 2,989 shares of the company’s stock worth $207,000 after acquiring an additional 446 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in Neogen Corporation during the 2nd quarter worth approximately $209,000. 86.62% of the stock is owned by hedge funds and other institutional investors.
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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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