Equities researchers at CL King started coverage on shares of Neogen Corporation (NASDAQ:NEOG) in a research report issued to clients and investors on Friday, July 14th, MarketBeat Ratings reports. The brokerage set a “neutral” rating on the stock.
NEOG has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Neogen Corporation from a “hold” rating to a “buy” rating and set a $73.00 target price on the stock in a research report on Thursday, March 23rd. BidaskClub upgraded shares of Neogen Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 30th.
Shares of Neogen Corporation (NEOG) opened at 66.95 on Friday. Neogen Corporation has a 12 month low of $50.53 and a 12 month high of $69.97. The stock’s 50 day moving average is $67.21 and its 200 day moving average is $64.95. The company has a market cap of $2.56 billion, a P/E ratio of 58.73 and a beta of 1.52.
Neogen Corporation (NASDAQ:NEOG) last issued its quarterly earnings results on Tuesday, July 18th. The company reported $0.32 earnings per share (EPS) 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 firm had revenue of $98.80 million for the quarter, compared to the consensus estimate of $100.80 million. During the same quarter in the previous year, the company earned $0.26 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, analysts anticipate that Neogen Corporation will post $1.30 EPS for the current fiscal year.
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In other news, Director Ronald D. Green sold 4,333 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $68.49, for a total value of $296,767.17. Following the completion of the sale, the director now owns 3,333 shares in the company, valued at approximately $228,277.17. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Edward Bradley sold 5,000 shares of the company’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $68.72, for a total transaction of $343,600.00. Following the completion of the sale, the vice president now owns 91,512 shares of the company’s stock, valued at approximately $6,288,704.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,333 shares of company stock worth $1,553,387. Corporate insiders own 4.70% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Citadel Advisors LLC raised its stake in Neogen Corporation by 551.3% in the second quarter. Citadel Advisors LLC now owns 32,732 shares of the company’s stock valued at $2,262,000 after buying an additional 27,706 shares during the last quarter. Parametric Portfolio Associates LLC raised its stake in Neogen Corporation by 0.4% in the second quarter. Parametric Portfolio Associates LLC now owns 81,530 shares of the company’s stock valued at $5,635,000 after buying an additional 338 shares during the last quarter. California Public Employees Retirement System raised its stake in Neogen Corporation by 3.4% in the second quarter. California Public Employees Retirement System now owns 95,050 shares of the company’s stock valued at $6,569,000 after buying an additional 3,100 shares during the last quarter. Vanguard Group Inc. raised its stake in Neogen Corporation by 1.9% in the second quarter. Vanguard Group Inc. now owns 3,319,437 shares of the company’s stock valued at $229,406,000 after buying an additional 61,968 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Neogen Corporation by 2.8% in the second quarter. Northern Trust Corp now owns 530,832 shares of the company’s stock valued at $36,685,000 after buying an additional 14,353 shares during the last quarter. 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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