James L. Herbert Sells 20,000 Shares of Neogen Co. (NASDAQ:NEOG) Stock

Neogen Co. (NASDAQ:NEOG) Director James L. Herbert sold 20,000 shares of Neogen stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $63.86, for a total value of $1,277,200.00. Following the sale, the director now directly owns 186,970 shares of the company’s stock, valued at approximately $11,939,904.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Shares of NEOG opened at $64.32 on Thursday. The stock has a 50-day moving average of $65.08 and a two-hundred day moving average of $65.04. Neogen Co. has a one year low of $50.60 and a one year high of $79.83. The stock has a market cap of $3.37 billion, a P/E ratio of 55.93, a P/E/G ratio of 5.28 and a beta of 1.37.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings results on Tuesday, September 24th. The company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.01). Neogen had a return on equity of 9.46% and a net margin of 14.32%. The firm had revenue of $101.42 million for the quarter, compared to analyst estimates of $105.16 million. During the same period in the prior year, the firm posted $0.29 EPS. The business’s revenue was up 1.8% compared to the same quarter last year. As a group, equities research analysts predict that Neogen Co. will post 1.22 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of NEOG. Steward Partners Investment Advisory LLC acquired a new position in shares of Neogen in the 2nd quarter valued at about $25,000. Executive Wealth Management LLC lifted its holdings in shares of Neogen by 124.2% in the 3rd quarter. Executive Wealth Management LLC now owns 509 shares of the company’s stock valued at $34,000 after buying an additional 282 shares during the period. Gradient Investments LLC acquired a new position in shares of Neogen in the 3rd quarter valued at about $46,000. Captrust Financial Advisors lifted its holdings in shares of Neogen by 20.0% in the 2nd quarter. Captrust Financial Advisors now owns 1,135 shares of the company’s stock valued at $70,000 after buying an additional 189 shares during the period. Finally, Manchester Financial Inc. purchased a new position in shares of Neogen in the 2nd quarter valued at about $71,000. 89.86% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have commented on NEOG. Zacks Investment Research cut Neogen from a “hold” rating to a “sell” rating and set a $70.00 price target for the company. in a research report on Friday, October 18th. Craig Hallum lifted their price target on Neogen from $72.00 to $78.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 24th. BidaskClub cut Neogen from a “hold” rating to a “sell” rating in a research report on Saturday, November 9th. Finally, ValuEngine cut Neogen from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $74.00.

About Neogen

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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