Neogen Corporation (NASDAQ:NEOG) Director James P. Tobin acquired 500 shares of Neogen Corporation stock in a transaction dated 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 transaction, the director now directly owns 3,200 shares of the company’s stock, valued at $206,848. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Neogen Corporation (NEOG) opened at 65.20 on Friday. The stock has a market capitalization of $2.49 billion, a P/E ratio of 57.19 and a beta of 1.52. The stock has a 50 day moving average price of $66.83 and a 200-day moving average price of $65.01. Neogen Corporation has a 12-month low of $50.53 and a 12-month high of $69.97.
Neogen Corporation (NASDAQ:NEOG) last announced its quarterly earnings results on Tuesday, July 18th. The company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. The company had revenue of $98.80 million during the quarter, compared to analysts’ expectations of $100.80 million. Neogen Corporation had a return on equity of 9.87% and a net margin of 12.11%. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 earnings per share. Equities research analysts expect that Neogen Corporation will post $1.30 EPS for the current year.
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Several institutional investors have recently bought and sold shares of the company. Piedmont Investment Advisors LLC acquired a new position in Neogen Corporation during the second quarter worth approximately $570,000. Sterling Capital Management LLC raised its position in Neogen Corporation by 21.2% in the second quarter. Sterling Capital Management LLC now owns 19,005 shares of the company’s stock worth $1,313,000 after buying an additional 3,330 shares during the last quarter. Fairfield Bush & CO. raised its position in Neogen Corporation by 4.6% in the second quarter. Fairfield Bush & CO. now owns 86,570 shares of the company’s stock worth $5,983,000 after buying an additional 3,845 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Neogen Corporation by 1.0% in the second quarter. The Manufacturers Life Insurance Company now owns 28,533 shares of the company’s stock worth $1,972,000 after buying an additional 273 shares during the last quarter. Finally, State Street Corp raised its position in shares of Neogen Corporation by 4.8% in the second quarter. State Street Corp now owns 949,434 shares of the company’s stock valued at $65,613,000 after buying an additional 43,496 shares in the last quarter. Institutional investors and hedge funds own 85.54% of the company’s stock.
Several equities analysts recently weighed in on NEOG shares. Zacks Investment Research downgraded Neogen Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, May 23rd. BidaskClub upgraded Neogen Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. Finally, CL King assumed coverage on Neogen Corporation in a research report on Friday, July 14th. They set a “neutral” rating on the stock.
About Neogen Corporation
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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