Jack C. Parnell Sells 439 Shares of Neogen Co. (NASDAQ:NEOG) Stock

Neogen Co. (NASDAQ:NEOG) Director Jack C. Parnell sold 439 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $70.00, for a total value of $30,730.00. Following the sale, the director now owns 5,000 shares of the company’s stock, valued at $350,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

NASDAQ NEOG traded down $0.92 during trading on Monday, reaching $69.37. 2,450 shares of the company traded hands, compared to its average volume of 259,197. Neogen Co. has a 1-year low of $50.60 and a 1-year high of $97.38. The stock has a 50 day moving average price of $63.84. The firm has a market capitalization of $3.63 billion, a P/E ratio of 60.29, a price-to-earnings-growth ratio of 5.78 and a beta of 1.38.

Neogen (NASDAQ:NEOG) last posted its earnings results on Tuesday, July 23rd. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. Neogen had a net margin of 14.53% and a return on equity of 9.86%. The company had revenue of $109.80 million during the quarter, compared to analysts’ expectations of $110.14 million. During the same quarter in the previous year, the company posted $0.33 earnings per share. Neogen’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, equities analysts anticipate that Neogen Co. will post 1.22 earnings per share for the current year.

Large investors have recently bought and sold shares of the company. Comerica Bank raised its position in Neogen by 1.8% in the 1st quarter. Comerica Bank now owns 91,316 shares of the company’s stock worth $5,302,000 after purchasing an additional 1,638 shares during the last quarter. Azimuth Capital Management LLC raised its position in Neogen by 2.4% in the 1st quarter. Azimuth Capital Management LLC now owns 19,415 shares of the company’s stock worth $1,114,000 after purchasing an additional 450 shares during the last quarter. Conestoga Capital Advisors LLC raised its position in Neogen by 1.7% in the 1st quarter. Conestoga Capital Advisors LLC now owns 1,546,058 shares of the company’s stock worth $88,728,000 after purchasing an additional 26,290 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Neogen by 12.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 51,324 shares of the company’s stock worth $2,925,000 after purchasing an additional 5,716 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Neogen by 1.9% in the 4th quarter. Legal & General Group Plc now owns 122,383 shares of the company’s stock worth $6,933,000 after purchasing an additional 2,277 shares during the last quarter. Institutional investors own 90.33% of the company’s stock.

NEOG has been the subject of several recent research reports. Guggenheim assumed coverage on Neogen in a report on Thursday, May 23rd. They set a “neutral” rating for the company. Craig Hallum raised their target price on Neogen from $72.00 to $78.00 and gave the company an “in-line” rating in a report on Wednesday, July 24th. Zacks Investment Research lowered Neogen from a “hold” rating to a “sell” rating and set a $68.00 price objective on the stock. in a research note on Friday, June 21st. BidaskClub upgraded Neogen from a “buy” rating to a “strong-buy” rating in a research note on Friday. Finally, ValuEngine raised Neogen from a “hold” rating to a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $73.00.

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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