Shares of Neogen Co. (NASDAQ:NEOG) hit a new 52-week high and low during mid-day trading on Thursday . The stock traded as low as $79.92 and last traded at $79.91, with a volume of 2808 shares trading hands. The stock had previously closed at $79.76.
Several analysts recently issued reports on NEOG shares. BidaskClub raised Neogen from a “hold” rating to a “buy” rating in a research note on Friday, February 16th. Stephens restated a “hold” rating and set a $65.00 price target (up previously from $62.00) on shares of Neogen in a report on Monday, March 26th. Zacks Investment Research upgraded Neogen from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a report on Wednesday, March 28th. Finally, ValuEngine upgraded Neogen from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $65.25.
The firm has a market cap of $4.04 billion, a price-to-earnings ratio of 93.26, a P/E/G ratio of 4.13 and a beta of 1.29.
In other Neogen news, Director G Bruce Papesh sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $72.50, for a total transaction of $435,000.00. Following the completion of the transaction, the director now owns 26,261 shares in the company, valued at approximately $1,903,922.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Steven J. Quinlan sold 5,000 shares of Neogen stock in a transaction that occurred on Tuesday, March 27th. The stock was sold at an average price of $66.13, for a total value of $330,650.00. Following the completion of the transaction, the chief financial officer now owns 15,203 shares of the company’s stock, valued at approximately $1,005,374.39. The disclosure for this sale can be found here. Insiders have sold a total of 117,320 shares of company stock valued at $8,194,973 in the last 90 days. 4.20% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Neogen by 38.1% in the 1st quarter. BlackRock Inc. now owns 6,466,176 shares of the company’s stock worth $433,168,000 after purchasing an additional 1,784,124 shares during the period. Wasatch Advisors Inc. boosted its holdings in shares of Neogen by 95.1% in the 1st quarter. Wasatch Advisors Inc. now owns 1,995,749 shares of the company’s stock worth $133,695,000 after purchasing an additional 972,709 shares during the period. New York State Common Retirement Fund boosted its holdings in shares of Neogen by 24.4% in the 1st quarter. New York State Common Retirement Fund now owns 1,043,842 shares of the company’s stock worth $69,927,000 after purchasing an additional 204,495 shares during the period. King Luther Capital Management Corp boosted its holdings in shares of Neogen by 32.1% in the 1st quarter. King Luther Capital Management Corp now owns 958,914 shares of the company’s stock worth $64,238,000 after purchasing an additional 233,097 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Neogen by 7.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 948,591 shares of the company’s stock worth $63,544,000 after purchasing an additional 69,600 shares during the period. Hedge funds and other institutional investors own 89.09% of the company’s stock.
Neogen Corporation, together with its subsidiaries, develops, manufactures, and markets various products for food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment primarily offers diagnostic test kits and complementary to detect dangerous and/or unintended substances in human food and animal feed, such as foodborne pathogens, spoilage organisms, natural toxins, food allergens, genetic modifications, ruminant by-products, meat speciation, drug residues, pesticide residues, and general sanitation concerns; and AccuPoint Advanced rapid sanitation test for adenosine triphosphate, a chemical found in living cells.
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