Neogen Corp. (NEOG) Stock Price Up 3.1%
Neogen Corp. (NASDAQ:NEOG) shares rose 3.1% during trading on Tuesday . The company traded as high as $56.79 and last traded at $56.65, with a volume of 114,005 shares traded. The stock had previously closed at $54.96.
Separately, Zacks Investment Research upgraded Neogen Corp. from a “sell” rating to a “hold” rating in a research note on Friday, May 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $57.25.
The company has a 50-day moving average of $55.56 and a 200-day moving average of $51.09. The firm has a market cap of $2.13 billion and a price-to-earnings ratio of 58.40.
Neogen Corp. (NASDAQ:NEOG) last posted its quarterly earnings results on Tuesday, July 19th. The company reported $0.26 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.26. The company earned $90.10 million during the quarter, compared to analyst estimates of $86.27 million. On average, equities analysts forecast that Neogen Corp. will post $1.13 EPS for the current year.
In other news, Director Richard T. Crowder sold 27,250 shares of the company’s stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $48.05, for a total value of $1,309,362.50. Following the transaction, the director now directly owns 12,750 shares of the company’s stock, valued at $612,637.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James L. Herbert sold 24,070 shares of the company’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $55.41, for a total transaction of $1,333,718.70. Following the completion of the transaction, the chief executive officer now directly owns 900,539 shares in the company, valued at $49,898,865.99. The disclosure for this sale can be found here.
Other institutional investors recently bought and sold shares of the company. State of Tennessee Treasury Department bought a new position in Neogen Corp. during the fourth quarter worth $1,619,000. Principal Financial Group Inc. increased its position 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. Mutual of America Capital Management LLC increased its position in 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 during the period. State of Wisconsin Investment Board increased its position in Neogen Corp. by 3.1% in the fourth quarter. State of Wisconsin Investment Board now owns 39,131 shares of the company’s stock worth $2,212,000 after buying an additional 1,170 shares during the period. Finally, Rhumbline Advisers increased its position in 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 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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