Insider Selling: Neogen Corp. (NEOG) CEO Sells 12,000 Shares of Stock
Neogen Corp. (NASDAQ:NEOG) CEO James L. Herbert sold 12,000 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $55.22, for a total value of $662,640.00. Following the transaction, the chief executive officer now directly owns 886,045 shares of the company’s stock, valued at $48,927,404.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Neogen Corp. (NASDAQ:NEOG) opened at 55.88 on Tuesday. The company’s 50-day moving average price is $57.72 and its 200 day moving average price is $53.11. Neogen Corp. has a 12 month low of $43.79 and a 12 month high of $61.24. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 57.02 and a beta of 1.41.
Neogen Corp. (NASDAQ:NEOG) last released its quarterly earnings results on Tuesday, September 27th. The company reported $0.26 EPS for the quarter, meeting analysts’ consensus estimates of $0.26. The firm earned $83.65 million during the quarter. Neogen Corp. had a net margin of 11.25% and a return on equity of 9.36%. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 earnings per share. Analysts forecast that Neogen Corp. will post $1.12 EPS for the current fiscal year.
Several research analysts recently issued reports on NEOG shares. Zacks Investment Research lowered Neogen Corp. from a “buy” rating to a “hold” rating in a research report on Friday. Craig Hallum lowered Neogen Corp. from a “buy” rating to a “hold” rating in a research report on Monday, August 29th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Neogen Corp. has an average rating of “Hold” and an average target price of $58.25.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NEOG. Advisor Group Inc. purchased a new position in Neogen Corp. during the second quarter worth approximately $119,000. Tower Research Capital LLC TRC purchased a new position in Neogen Corp. during the second quarter worth approximately $132,000. BlackRock Inc. raised its position in Neogen Corp. by 126.9% in the first quarter. BlackRock Inc. now owns 2,512 shares of the company’s stock worth $126,000 after buying an additional 1,405 shares during the period. Sei Investments Co. raised its position in Neogen Corp. by 164.2% in the second quarter. Sei Investments Co. now owns 3,527 shares of the company’s stock worth $199,000 after buying an additional 2,192 shares during the period. Finally, Rehmann Capital Advisory Group purchased a new position in Neogen Corp. during the second quarter worth approximately $219,000. Hedge funds and other institutional investors own 86.79% of the company’s stock.
Neogen Corp. Company Profile
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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