Jack C. Parnell Sells 9,883 Shares of Neogen Co. (NASDAQ:NEOG) Stock

Neogen Co. (NASDAQ:NEOG) Director Jack C. Parnell sold 9,883 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $56.98, for a total value of $563,133.34. Following the transaction, the director now owns 18,655 shares of the company’s stock, valued at $1,062,961.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

NEOG opened at $57.87 on Friday. The company has a market capitalization of $3.00 billion, a PE ratio of 47.83, a price-to-earnings-growth ratio of 5.06 and a beta of 1.33. Neogen Co. has a 12-month low of $50.60 and a 12-month high of $97.38.

Neogen (NASDAQ:NEOG) last released its quarterly earnings results on Tuesday, March 26th. The company reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.02). The firm had revenue of $97.70 million for the quarter, compared to analyst estimates of $102.55 million. Neogen had a return on equity of 10.48% and a net margin of 14.96%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 earnings per share. Sell-side analysts anticipate that Neogen Co. will post 1.14 EPS for the current year.

NEOG has been the subject of a number of analyst reports. Zacks Investment Research downgraded Neogen from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. BidaskClub downgraded Neogen from a “hold” rating to a “sell” rating in a research note on Thursday, December 27th. Craig Hallum upgraded Neogen from a “hold” rating to a “buy” rating and set a $62.76 price target for the company in a research note on Tuesday, March 19th. Finally, ValuEngine cut Neogen from a “buy” rating to a “hold” rating in a research report on Wednesday, January 30th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $62.76.

A number of large investors have recently added to or reduced their stakes in NEOG. BlackRock Inc. raised its holdings in Neogen by 4.6% in the 3rd quarter. BlackRock Inc. now owns 7,447,171 shares of the company’s stock valued at $532,697,000 after acquiring an additional 326,485 shares in the last quarter. Vanguard Group Inc. raised its holdings in Neogen by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 5,020,145 shares of the company’s stock valued at $359,091,000 after acquiring an additional 149,536 shares in the last quarter. Vanguard Group Inc raised its holdings in Neogen by 3.1% in the 3rd quarter. Vanguard Group Inc now owns 5,020,145 shares of the company’s stock valued at $359,091,000 after acquiring an additional 149,536 shares in the last quarter. Conestoga Capital Advisors LLC raised its holdings in Neogen by 1.7% in the 1st quarter. Conestoga Capital Advisors LLC now owns 1,546,058 shares of the company’s stock valued at $88,728,000 after acquiring an additional 26,290 shares in the last quarter. Finally, Norges Bank acquired a new position in Neogen in the 4th quarter valued at $49,259,000. 88.88% of the stock is owned by institutional investors and hedge funds.

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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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