Shares of Neogen Corp. (NASDAQ:NEOG) saw unusually-strong trading volume on Wednesday . Approximately 143,508 shares were traded during mid-day trading, a decline of 2% from the previous session’s volume of 146,601 shares.The stock last traded at $56.39 and had previously closed at $57.49.

Several brokerages have commented on NEOG. Roth Capital reissued a “buy” rating on shares of Neogen Corp. in a report on Thursday, March 24th. Zacks Investment Research raised shares of Neogen Corp. from a “sell” rating to a “hold” rating in a report on Friday, June 3rd. Craig Hallum cut their price target 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. Finally, Janney Montgomery Scott cut their price target on shares of Neogen Corp. to $52.00 and set a “neutral” rating for the company in a report on Friday, March 25th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Neogen Corp. has a consensus rating of “Hold” and a consensus price target of $57.25.

The firm has a market cap of $2.12 billion and a P/E ratio of 58.80. The company has a 50-day moving average price of $53.46 and a 200 day moving average price of $50.88.

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

A number of hedge funds have made changes to their positions in NEOG. OppenheimerFunds Inc. boosted its stake in shares of 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 in the last quarter. Principal Financial Group Inc. boosted its stake in shares of 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 in the last quarter. California State Teachers Retirement System boosted its stake in shares of Neogen Corp. by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 68,596 shares of the company’s stock worth $3,877,000 after buying an additional 1,044 shares in the last quarter. Mutual of America Capital Management LLC boosted its stake in shares of Neogen Corp. by 0.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 48,182 shares of the company’s stock worth $2,723,000 after buying an additional 285 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Neogen Corp. by 8.8% in the fourth quarter. Rhumbline Advisers now owns 45,963 shares of the company’s stock worth $2,598,000 after buying an additional 3,710 shares in the last quarter.

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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