Neogen Co. (NASDAQ:NEOG) CEO Sells $2,173,685.67 in Stock

Neogen Co. (NASDAQ:NEOG) CEO John Edward Adent sold 31,489 shares of Neogen stock in a transaction on Monday, August 5th. The stock was sold at an average price of $69.03, for a total transaction of $2,173,685.67. Following the transaction, the chief executive officer now directly owns 44,302 shares of the company’s stock, valued at approximately $3,058,167.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NEOG stock traded down $0.92 during trading on Wednesday, reaching $69.57. The stock had a trading volume of 1,344 shares, compared to its average volume of 264,300. Neogen Co. has a one year low of $50.60 and a one year high of $97.38. The stock has a 50 day moving average price of $64.45. The stock has a market cap of $3.67 billion, a P/E ratio of 60.59, a price-to-earnings-growth ratio of 5.78 and a beta of 1.38.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.02. Neogen had a net margin of 14.53% and a return on equity of 9.86%. The business had revenue of $109.80 million during the quarter, compared to the consensus estimate of $110.14 million. During the same period in the prior year, the firm posted $0.33 EPS. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. Equities research analysts predict that Neogen Co. will post 1.22 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of NEOG. Comerica Bank grew its position in shares of Neogen by 1.8% during the 1st quarter. Comerica Bank now owns 91,316 shares of the company’s stock valued at $5,302,000 after acquiring an additional 1,638 shares during the period. Azimuth Capital Management LLC boosted its holdings 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 buying an additional 450 shares during the period. Conestoga Capital Advisors LLC boosted 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 worth $88,728,000 after buying an additional 26,290 shares during the period. OLD National Bancorp IN bought a new position in Neogen in the 2nd quarter worth approximately $290,000. Finally, Geode Capital Management LLC boosted its holdings in Neogen by 8.9% in the 4th quarter. Geode Capital Management LLC now owns 619,557 shares of the company’s stock worth $35,314,000 after buying an additional 50,624 shares during the period. 90.33% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have weighed in on the stock. Guggenheim assumed coverage on shares of Neogen in a research note on Thursday, May 23rd. They issued a “neutral” rating for the company. ValuEngine raised shares of Neogen from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Zacks Investment Research lowered shares of Neogen from a “hold” rating to a “sell” rating and set a $68.00 target price on the stock. in a report on Friday, June 21st. BidaskClub upgraded shares of Neogen from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Finally, Craig Hallum upped their target price on shares of Neogen from $72.00 to $78.00 and gave the stock an “in-line” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $73.00.

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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