Neogen Co. (NASDAQ:NEOG) CFO Steven J. Quinlan sold 15,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $69.04, for a total value of $1,035,600.00. Following the completion of the sale, the chief financial officer now directly owns 28,470 shares of the company’s stock, valued at approximately $1,965,568.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Neogen stock traded up $1.57 during mid-day trading on Friday, hitting $70.15. 366,734 shares of the company’s stock traded hands, compared to its average volume of 213,815. The company has a 50 day moving average of $61.88. Neogen Co. has a fifty-two week low of $50.60 and a fifty-two week high of $97.38. The stock has a market capitalization of $3.60 billion, a PE ratio of 61.00, a price-to-earnings-growth ratio of 5.68 and a beta of 1.34. The company has a debt-to-equity ratio of 0.03, a quick ratio of 9.86 and a current ratio of 11.75.
Neogen (NASDAQ:NEOG) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.02. Neogen had a return on equity of 9.86% and a net margin of 14.53%. The business had revenue of $109.80 million during the quarter, compared to the consensus estimate of $110.14 million. During the same quarter last year, the firm posted $0.33 EPS. The company’s quarterly revenue was up 1.6% on a year-over-year basis. Equities research analysts forecast that Neogen Co. will post 1.22 EPS for the current year.
NEOG has been the subject of several research reports. Zacks Investment Research downgraded Gold Resource from a “hold” rating to a “sell” rating in a report on Friday, June 21st. Guggenheim reaffirmed a “buy” rating and set a $95.00 price target (up previously from $90.00) on shares of VF in a report on Thursday, May 23rd. Craig Hallum raised their price target on Neogen from $72.00 to $78.00 and gave the company an “in-line” rating in a report on Wednesday. Finally, BidaskClub downgraded Westport Fuel Systems from a “buy” rating to a “hold” rating in a report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $73.00.
A number of institutional investors have recently made changes to their positions in the business. Creative Planning increased its holdings in shares of Neogen by 42.6% during the second quarter. Creative Planning now owns 10,769 shares of the company’s stock valued at $669,000 after acquiring an additional 3,215 shares in the last quarter. Virginia Retirement Systems ET AL bought a new stake in shares of Neogen during the second quarter valued at approximately $217,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Neogen during the second quarter valued at approximately $25,000. Bridge City Capital LLC increased its holdings in shares of Neogen by 0.5% during the second quarter. Bridge City Capital LLC now owns 31,541 shares of the company’s stock valued at $1,959,000 after acquiring an additional 154 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Neogen by 0.6% during the second quarter. Arizona State Retirement System now owns 80,849 shares of the company’s stock valued at $5,022,000 after acquiring an additional 505 shares in the last quarter. 90.51% of the stock is owned by institutional investors and hedge funds.
Neogen Company Profile
Neogen Corporation, together with its subsidiaries, develops, manufactures, and markets various products for food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment primarily offers diagnostic test kits and complementary to detect dangerous and/or unintended substances in human food and animal feed, such as foodborne pathogens, spoilage organisms, natural toxins, food allergens, genetic modifications, ruminant by-products, meat speciation, drug residues, pesticide residues, and general sanitation concerns; and AccuPoint Advanced rapid sanitation test for adenosine triphosphate, a chemical found in living cells.
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