Neogen Corp. (NEOG) Trading 3% Higher
Neogen Corp. (NASDAQ:NEOG)’s share price traded up 3% on Tuesday . The stock traded as high as $60.56 and last traded at $58.45, with a volume of 219,692 shares changing hands. The stock had previously closed at $56.77.
Several equities analysts have weighed in on the company. Craig Hallum reduced their price objective on Neogen Corp. from $65.00 to $49.00 and set a “hold” rating for the company in a report on Friday, March 25th. Zacks Investment Research lowered Neogen Corp. from a “hold” rating to a “sell” rating in a report on Thursday, March 24th. Janney Montgomery Scott cut their price target on 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 research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $57.25.
The firm has a market cap of $2.10 billion and a P/E ratio of 58.20. The stock has a 50 day moving average price of $54.36 and a 200 day moving average price of $50.87.
Neogen Corp. (NASDAQ:NEOG) last announced its quarterly earnings data on Tuesday, July 19th. The company reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. The firm earned $90.10 million during the quarter, compared to analysts’ expectations of $86.27 million. Analysts expect that Neogen Corp. will post $1.13 EPS for the current fiscal year.
In other Neogen Corp. news, Director Richard T. Crowder sold 27,250 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 12,750 shares in the company, valued at approximately $612,637.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jack C. Parnell sold 4,000 shares of the business’s stock in a transaction 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 sale, the director now owns 18,568 shares of the company’s stock, valued at $912,988.56. The disclosure for this sale can be found here.
A number of large investors recently made changes to their positions in NEOG. Russell Frank Co raised its stake in shares of Neogen Corp. by 34.2% in the fourth quarter. Russell Frank Co now owns 26,468 shares of the company’s stock worth $1,533,000 after buying an additional 6,738 shares in the last quarter. Mutual of America Capital Management LLC raised 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. California State Teachers Retirement System raised 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. Rhumbline Advisers raised 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. Finally, OppenheimerFunds Inc. raised 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.
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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