James L. Herbert Sells 7,339 Shares of Neogen Co. (NASDAQ:NEOG) Stock

Neogen Co. (NASDAQ:NEOG) Director James L. Herbert sold 7,339 shares of Neogen stock in a transaction that occurred on Thursday, January 9th. The stock was sold at an average price of $65.10, for a total transaction of $477,768.90. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

NASDAQ:NEOG traded up $1.75 during mid-day trading on Tuesday, hitting $69.66. 6,192 shares of the company’s stock were exchanged, compared to its average volume of 211,260. The company has a 50 day simple moving average of $66.85 and a 200-day simple moving average of $67.19. Neogen Co. has a fifty-two week low of $50.60 and a fifty-two week high of $79.83. The firm has a market capitalization of $3.47 billion, a P/E ratio of 60.60, a PEG ratio of 5.62 and a beta of 1.37.

Neogen (NASDAQ:NEOG) last posted its earnings results on Monday, December 23rd. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.01). Neogen had a return on equity of 9.17% and a net margin of 14.35%. The business had revenue of $107.80 million for the quarter, compared to analyst estimates of $109.93 million. During the same quarter in the prior year, the business earned $0.31 earnings per share. The firm’s quarterly revenue was up .7% on a year-over-year basis. On average, analysts forecast that Neogen Co. will post 1.17 earnings per share for the current year.

Several equities research analysts recently commented on the stock. ValuEngine downgraded shares of Neogen from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Zacks Investment Research upgraded shares of Neogen from a “sell” rating to a “hold” rating and set a $71.00 target price on the stock in a research report on Wednesday, November 27th. Roth Capital reiterated a “neutral” rating on shares of Neogen in a research report on Tuesday, December 31st. Finally, BidaskClub downgraded shares of Neogen from a “hold” rating to a “sell” rating in a research report on Friday, December 27th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $74.50.

A number of large investors have recently bought and sold shares of NEOG. JPMorgan Chase & Co. lifted its position in shares of Neogen by 20.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 20,124 shares of the company’s stock worth $1,227,000 after purchasing an additional 3,356 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Neogen by 60.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 27,448 shares of the company’s stock worth $1,704,000 after purchasing an additional 10,378 shares during the period. Bank of Montreal Can lifted its position in shares of Neogen by 51.7% in the 2nd quarter. Bank of Montreal Can now owns 14,901 shares of the company’s stock worth $925,000 after purchasing an additional 5,078 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Neogen by 5.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 321,016 shares of the company’s stock worth $19,939,000 after purchasing an additional 17,882 shares during the period. Finally, LPL Financial LLC acquired a new position in shares of Neogen in the 2nd quarter worth approximately $269,000. Institutional investors and hedge funds own 91.67% of the company’s stock.

Neogen Company Profile

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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