Neogen Corporation (NASDAQ:NEOG) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Friday.

Several other analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Neogen Corporation from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a report on Thursday, July 20th. CL King began coverage on shares of Neogen Corporation in a report on Friday, July 14th. They issued a “neutral” rating on the stock.

Shares of Neogen Corporation (NASDAQ NEOG) traded up 0.51% during midday trading on Friday, hitting $66.80. 112,730 shares of the stock traded hands. The company’s 50 day moving average price is $67.41 and its 200-day moving average price is $64.81. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 58.60 and a beta of 1.52. Neogen Corporation has a 12-month low of $50.53 and a 12-month high of $69.97.

Neogen Corporation (NASDAQ:NEOG) last issued its quarterly earnings data on Tuesday, July 18th. The company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The firm had revenue of $98.80 million for the quarter, compared to analyst estimates of $100.80 million. Neogen Corporation had a net margin of 12.11% and a return on equity of 9.87%. Neogen Corporation’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 EPS. On average, equities research analysts expect that Neogen Corporation will post $1.30 EPS for the current year.

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In related news, CEO James L. Herbert sold 8,107 shares of the business’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $62.01, for a total value of $502,715.07. Following the sale, the chief executive officer now directly owns 890,319 shares in the company, valued at approximately $55,208,681.19. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James P. Tobin acquired 500 shares of Neogen Corporation stock in a transaction that occurred on Thursday, July 27th. The stock was bought at an average price of $64.64 per share, for a total transaction of $32,320.00. Following the completion of the acquisition, the director now owns 3,200 shares in the company, valued at approximately $206,848. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 71,576 shares of company stock worth $4,455,280. 4.70% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA raised its stake in shares of Neogen Corporation by 56.0% in the second quarter. BNP Paribas Arbitrage SA now owns 12,414 shares of the company’s stock worth $858,000 after buying an additional 4,455 shares during the period. Legal & General Group Plc raised its stake in shares of Neogen Corporation by 10.8% in the second quarter. Legal & General Group Plc now owns 73,185 shares of the company’s stock worth $5,058,000 after buying an additional 7,113 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Neogen Corporation during the second quarter worth about $154,000. State of Wisconsin Investment Board raised its stake in shares of Neogen Corporation by 17.2% in the second quarter. State of Wisconsin Investment Board now owns 48,100 shares of the company’s stock worth $3,324,000 after buying an additional 7,043 shares during the period. Finally, Tirschwell & Loewy Inc. raised its stake in shares of Neogen Corporation by 0.6% in the second quarter. Tirschwell & Loewy Inc. now owns 344,644 shares of the company’s stock worth $23,818,000 after buying an additional 1,910 shares during the period. Institutional investors own 85.34% of the company’s stock.

Neogen Corporation Company Profile

Neogen Corporation develops, manufactures and markets a range of products and services dedicated to food and animal safety. The Company operates through two segments: Food Safety and Animal Safety. The Food Safety segment produces and markets 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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