Neogen Corp. (NEOG) Downgraded by Zacks Investment Research
According to Zacks, “Neogen Corporation develops, manufactures, and markets a diverse line of products dedicated to food and animal safety. The company’s food safety segment consists primarily of diagnostic test kits and related products, including dehydrated culture media, marketed to food producers and processors to aid in the detection of foodborne bacteria, natural toxins, food allergens, drug residues, pesticide residues, plant disease infections and levels of general sanitation. “
Separately, Craig Hallum lowered Neogen Corp. from a buy rating to a hold rating in a report on Monday, August 29th. One research 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. The stock currently has a consensus rating of Hold and a consensus target price of $58.25.
Shares of Neogen Corp. (NASDAQ:NEOG) opened at 53.44 on Tuesday. The stock has a market cap of $2.02 billion, a PE ratio of 54.53 and a beta of 1.41. Neogen Corp. has a 12-month low of $43.79 and a 12-month high of $61.24. The firm has a 50-day moving average price of $57.23 and a 200 day moving average price of $53.34.
Neogen Corp. (NASDAQ:NEOG) last announced its quarterly earnings data on Tuesday, September 27th. The company reported $0.26 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.26. The business earned $83.65 million during the quarter. Neogen Corp. had a return on equity of 9.36% and a net margin of 11.25%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 EPS. Equities research analysts predict that Neogen Corp. will post $1.12 EPS for the current fiscal year.
In other news, VP Edward Bradley sold 20,196 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $55.60, for a total transaction of $1,122,897.60. Following the completion of the sale, the vice president now directly owns 126,730 shares of the company’s stock, valued at $7,046,188. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James L. Herbert sold 8,393 shares of the company’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $55.13, for a total value of $462,706.09. Following the sale, the chief executive officer now directly owns 906,175 shares of the company’s stock, valued at $49,957,427.75. The disclosure for this sale can be found here. Insiders own 4.70% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Advisor Group Inc. bought a new stake in shares of Neogen Corp. during the second quarter valued at approximately $119,000. BlackRock Inc. increased its stake in shares of Neogen Corp. by 126.9% in the first quarter. BlackRock Inc. now owns 2,512 shares of the company’s stock valued at $126,000 after buying an additional 1,405 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Neogen Corp. during the second quarter valued at about $132,000. Sei Investments Co. increased its stake in shares of Neogen Corp. by 164.2% in the second quarter. Sei Investments Co. now owns 3,527 shares of the company’s stock valued at $199,000 after buying an additional 2,192 shares in the last quarter. Finally, Rehmann Capital Advisory Group acquired a new stake in shares of Neogen Corp. during the second quarter valued at about $219,000. 86.51% of the stock is owned by institutional investors and hedge funds.
About Neogen Corp.
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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