Neogen Corp. (NASDAQ:NEOG)’s share price dropped 1% on Monday . The company traded as low as $57.98 and last traded at $57.98, with a volume of 65,880 shares. The stock had previously closed at $58.56.

NEOG has been the subject of a number of research reports. Zacks Investment Research lowered shares of Neogen Corp. from a “hold” rating to a “sell” rating in a report on Thursday, March 24th. Craig Hallum dropped their target price on shares of Neogen Corp. from $65.00 to $49.00 and set a “hold” rating for the company in a report on Friday, March 25th. Janney Montgomery Scott dropped their target price on shares of Neogen Corp. to $52.00 and set a “neutral” rating for the company in a report on Friday, March 25th. Finally, Roth Capital reaffirmed a “buy” rating on shares of Neogen Corp. in a report on Thursday, March 24th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Neogen Corp. has an average rating of “Hold” and a consensus price target of $57.25.

The stock’s 50 day moving average price is $52.98 and its 200 day moving average price is $50.79. The stock has a market capitalization of $2.18 billion and a PE ratio of 60.45.

In other Neogen Corp. news, Director Richard T. Crowder sold 27,250 shares of the firm’s stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $48.05, for a total value of $1,309,362.50. Following the completion of the sale, the director now owns 12,750 shares of the company’s stock, valued at $612,637.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jack C. Parnell sold 4,000 shares of the firm’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $49.17, for a total value of $196,680.00. Following the completion of the sale, the director now directly owns 18,568 shares of the company’s stock, valued at approximately $912,988.56. The disclosure for this sale can be found here.

Other large investors have added to or reduced their stakes in the company. OppenheimerFunds Inc. increased its stake in Neogen Corp. by 74.3% in the fourth quarter. OppenheimerFunds Inc. now owns 370,290 shares of the company’s stock worth $20,929,000 after buying an additional 157,850 shares during the period. Sawtooth Asset Management Inc. increased its stake in Neogen Corp. by 21,911.6% in the fourth quarter. Sawtooth Asset Management Inc. now owns 32,357 shares of the company’s stock worth $1,829,000 after buying an additional 32,210 shares during the period. Dimensional Fund Advisors LP increased its stake in Neogen Corp. by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 581,161 shares of the company’s stock worth $32,848,000 after buying an additional 15,479 shares during the period. First Trust Advisors LP increased its stake in Neogen Corp. by 83.6% in the fourth quarter. First Trust Advisors LP now owns 25,818 shares of the company’s stock worth $1,459,000 after buying an additional 11,757 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Neogen Corp. by 4.5% in the fourth quarter. Principal Financial Group Inc. now owns 253,640 shares of the company’s stock worth $14,335,000 after buying an additional 10,966 shares during the period.

Neogen Corporation develops, manufactures and markets a diverse line of products dedicated to food and animal safety. The Company has two segments: Food Safety and Animal Safety. The Food Safety segment is engaged in the development, production and marketing of diagnostic test kits and related products used by food producers and processors to detect harmful natural toxins, foodborne bacteria, allergens and levels of general sanitation.

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