Neogen (NEOG) Hits New 1-Year High and Low at $79.92

Neogen Co. (NASDAQ:NEOG)’s share price hit a new 52-week high and low during trading on Thursday . The company traded as low as $79.92 and last traded at $79.91, with a volume of 2808 shares. The stock had previously closed at $79.76.

NEOG has been the subject of a number of recent research reports. BidaskClub upgraded Neogen from a “hold” rating to a “buy” rating in a report on Friday, February 16th. Stephens reiterated a “hold” rating and issued a $65.00 target price (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 objective 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 investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $65.25.

The firm has a market cap of $4.04 billion, a PE ratio of 93.26, a price-to-earnings-growth ratio of 4.13 and a beta of 1.29.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings data on Thursday, March 22nd. The company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.08. Neogen had a return on equity of 11.49% and a net margin of 14.82%. The company had revenue of $95.90 million during the quarter, compared to analysts’ expectations of $97.93 million. During the same quarter in the previous year, the business earned $0.27 EPS. Neogen’s revenue was up 8.5% compared to the same quarter last year. sell-side analysts anticipate that Neogen Co. will post 1.18 earnings per share for the current year.

In other Neogen news, Director G Bruce Papesh sold 6,000 shares of Neogen stock in a transaction 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 sale, the director now directly owns 26,261 shares of the company’s stock, valued at approximately $1,903,922.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Terri A. Morrical sold 14,800 shares of Neogen stock in a transaction on Friday, April 6th. The shares were sold at an average price of $67.78, for a total value of $1,003,144.00. Following the sale, the vice president now directly owns 44,775 shares of the company’s stock, valued at $3,034,849.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 117,320 shares of company stock valued at $8,194,973. 4.20% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. LPL Financial LLC raised its position in Neogen by 15.4% during the 1st quarter. LPL Financial LLC now owns 5,288 shares of the company’s stock valued at $354,000 after purchasing an additional 705 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in Neogen by 28.8% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,337 shares of the company’s stock valued at $223,000 after purchasing an additional 747 shares in the last quarter. Aperio Group LLC raised its position in Neogen by 3.4% during the 1st quarter. Aperio Group LLC now owns 22,711 shares of the company’s stock valued at $1,521,000 after purchasing an additional 748 shares in the last quarter. UBS Group AG raised its position in Neogen by 4.7% during the 1st quarter. UBS Group AG now owns 20,077 shares of the company’s stock valued at $1,345,000 after purchasing an additional 893 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in Neogen by 5.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 16,534 shares of the company’s stock valued at $1,108,000 after purchasing an additional 912 shares in the last quarter. 89.09% of the stock is owned by institutional investors and hedge funds.

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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