Insider Selling: Neogen Co. (NEOG) Director Sells 5,000 Shares of Stock

Neogen Co. (NASDAQ:NEOG) Director Jack C. Parnell sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $60.26, for a total value of $301,300.00. Following the transaction, the director now owns 14,439 shares of the company’s stock, valued at approximately $870,094.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of NASDAQ:NEOG opened at $58.93 on Friday. The company has a market capitalization of $3.14 billion, a P/E ratio of 48.70, a price-to-earnings-growth ratio of 5.28 and a beta of 1.33. Neogen Co. has a 52 week low of $50.60 and a 52 week high of $97.38.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings data on Tuesday, March 26th. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). The business had revenue of $97.70 million during the quarter, compared to the consensus estimate of $102.55 million. Neogen had a return on equity of 10.48% and a net margin of 14.96%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $0.32 EPS. On average, analysts forecast that Neogen Co. will post 1.14 EPS for the current fiscal year.

Several analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Neogen from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st. BidaskClub raised shares of Neogen from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. ValuEngine raised shares of Neogen from a “hold” rating to a “buy” rating in a research note on Thursday, January 24th. Finally, Craig Hallum raised shares of Neogen from a “hold” rating to a “buy” rating and set a $62.76 price objective for the company in a research note on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Neogen currently has a consensus rating of “Hold” and an average price target of $62.76.

Large investors have recently modified their holdings of the stock. Brand Asset Management Group Inc. acquired a new position in Neogen during the first quarter worth about $39,000. First Hawaiian Bank bought a new position in Neogen in the fourth quarter valued at about $26,000. Manchester Capital Management LLC raised its position in Neogen by 105.6% in the first quarter. Manchester Capital Management LLC now owns 590 shares of the company’s stock valued at $34,000 after purchasing an additional 303 shares during the last quarter. Buffington Mohr McNeal bought a new position in Neogen in the first quarter valued at about $43,000. Finally, Captrust Financial Advisors raised its position in Neogen by 47.0% in the fourth quarter. Captrust Financial Advisors now owns 970 shares of the company’s stock valued at $55,000 after purchasing an additional 310 shares during the last quarter. 89.01% 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.

See Also: P/E Growth (PEG)

Insider Buying and Selling by Quarter for Neogen (NASDAQ:NEOG)

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