Neogen (NEOG) Reaches New 1-Year High and Low at $70.41

Neogen (NASDAQ:NEOG) hit a new 52-week high and low during mid-day trading on Thursday . The stock traded as low as $70.41 and last traded at $69.43, with a volume of 49335 shares changing hands. The stock had previously closed at $69.64.

Several brokerages have issued reports on NEOG. BidaskClub downgraded Neogen from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Stephens reaffirmed a “hold” rating and set a $62.00 price target on shares of Neogen in a report on Wednesday, January 10th. Zacks Investment Research raised Neogen from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a report on Wednesday, March 28th. ValuEngine raised Neogen from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Finally, Roth Capital set a $62.00 price target on Neogen and gave the company a “hold” rating in a report on Thursday, January 4th. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $65.25.

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The firm has a market cap of $3,605.14, a PE ratio of 81.26, a price-to-earnings-growth ratio of 4.13 and a beta of 1.27.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings results on Thursday, March 22nd. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.08. Neogen had a return on equity of 11.49% and a net margin of 14.82%. The business had revenue of $95.90 million during the quarter, compared to the consensus estimate of $97.93 million. During the same quarter last year, the firm posted $0.27 EPS. The company’s quarterly revenue was up 8.5% on a year-over-year basis. analysts anticipate that Neogen will post 1.13 EPS for the current year.

In other news, Director William T. Boehm sold 500 shares of Neogen stock in a transaction on Wednesday, April 18th. The stock was sold at an average price of $69.84, for a total transaction of $34,920.00. Following the completion of the sale, the director now owns 10,480 shares of the company’s stock, valued at $731,923.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James L. Herbert sold 25,334 shares of Neogen stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $59.32, for a total value of $1,502,812.88. Following the sale, the insider now directly owns 1,157,591 shares of the company’s stock, valued at approximately $68,668,298.12. The disclosure for this sale can be found here. Insiders have sold 113,702 shares of company stock valued at $7,122,746 in the last three months. Insiders own 4.20% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of Neogen by 2.0% in the fourth quarter. BlackRock Inc. now owns 4,682,052 shares of the company’s stock worth $384,911,000 after purchasing an additional 89,642 shares during the period. Conestoga Capital Advisors LLC increased its position in shares of Neogen by 12.4% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,077,886 shares of the company’s stock worth $88,613,000 after purchasing an additional 119,102 shares during the period. Wasatch Advisors Inc. increased its position in shares of Neogen by 619.3% in the fourth quarter. Wasatch Advisors Inc. now owns 1,023,040 shares of the company’s stock worth $84,104,000 after purchasing an additional 880,819 shares during the period. Bank of New York Mellon Corp increased its position in shares of Neogen by 10.2% in the fourth quarter. Bank of New York Mellon Corp now owns 560,901 shares of the company’s stock worth $46,111,000 after purchasing an additional 52,141 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Neogen by 33.7% in the fourth quarter. Geode Capital Management LLC now owns 451,973 shares of the company’s stock worth $27,867,000 after purchasing an additional 113,850 shares during the period. 68.14% of the stock is owned by institutional investors.

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About Neogen

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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