Neogen Corporation (NASDAQ:NEOG) Stock Rating Upgraded by BidaskClub
Neogen Corporation (NASDAQ:NEOG) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Thursday.
NEOG has been the subject of a number of other research reports. Zacks Investment Research raised shares of Neogen Corporation from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a report on Thursday, July 20th. CL King began coverage on shares of Neogen Corporation in a research note on Friday, July 14th. They issued a “neutral” rating for the company.
Shares of Neogen Corporation (NASDAQ NEOG) traded down 0.35% on Thursday, reaching $67.53. 5,501 shares of the company’s stock were exchanged. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 59.24 and a beta of 1.52. Neogen Corporation has a 12 month low of $50.53 and a 12 month high of $69.97. The firm’s 50-day moving average price is $67.25 and its 200 day moving average price is $64.91.
Neogen Corporation (NASDAQ:NEOG) last issued its quarterly earnings results on Tuesday, July 18th. The company reported $0.32 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.32. Neogen Corporation had a net margin of 12.11% and a return on equity of 9.87%. The company had revenue of $98.80 million during the quarter, compared to the consensus estimate of $100.80 million. During the same quarter in the prior year, the firm posted $0.26 EPS. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. Equities research analysts predict that Neogen Corporation will post $1.30 EPS for the current fiscal year.
In related news, VP Edward Bradley sold 5,000 shares of the stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $61.33, for a total value of $306,650.00. Following the completion of the transaction, the vice president now owns 96,512 shares of the company’s stock, valued at approximately $5,919,080.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO James L. Herbert sold 48,469 shares of the stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $61.29, for a total transaction of $2,970,665.01. Following the completion of the transaction, the chief executive officer now directly owns 912,105 shares of the company’s stock, valued at approximately $55,902,915.45. The disclosure for this sale can be found here. In the last three months, insiders sold 71,802 shares of company stock valued at $4,524,052. 4.70% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Swiss National Bank boosted its position in shares of Neogen Corporation by 2.1% in the second quarter. Swiss National Bank now owns 63,650 shares of the company’s stock valued at $4,399,000 after buying an additional 1,300 shares during the period. Principal Financial Group Inc. boosted its position in shares of Neogen Corporation by 0.5% in the second quarter. Principal Financial Group Inc. now owns 302,321 shares of the company’s stock valued at $20,892,000 after buying an additional 1,438 shares during the period. Great Lakes Advisors LLC boosted its position in shares of Neogen Corporation by 23.3% in the second quarter. Great Lakes Advisors LLC now owns 42,562 shares of the company’s stock valued at $2,941,000 after buying an additional 8,045 shares during the period. Bridge City Capital LLC acquired a new position in shares of Neogen Corporation during the second quarter valued at about $963,000. Finally, Victory Capital Management Inc. boosted its position in shares of Neogen Corporation by 17.5% in the second quarter. Victory Capital Management Inc. now owns 2,989 shares of the company’s stock valued at $207,000 after buying an additional 446 shares during the period. Hedge funds and other institutional investors own 85.53% 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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