Insider Selling: Neogen Co. (NASDAQ:NEOG) CEO Sells 31,489 Shares of Stock

Neogen Co. (NASDAQ:NEOG) CEO John Edward Adent sold 31,489 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $69.03, for a total transaction of $2,173,685.67. Following the completion of the sale, the chief executive officer now directly owns 44,302 shares in the company, valued at $3,058,167.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Shares of NASDAQ:NEOG opened at $68.61 on Friday. The firm has a market capitalization of $3.70 billion, a PE ratio of 59.66, a P/E/G ratio of 5.80 and a beta of 1.38. Neogen Co. has a twelve month low of $50.60 and a twelve month high of $97.38. The company has a 50-day moving average price of $65.99 and a two-hundred day moving average price of $61.38.

Neogen (NASDAQ:NEOG) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. Neogen had a net margin of 14.53% and a return on equity of 9.86%. The company had revenue of $109.80 million during the quarter, compared to analyst estimates of $110.14 million. During the same period last year, the business earned $0.33 earnings per share. Neogen’s revenue was up 1.6% compared to the same quarter last year. Sell-side analysts expect that Neogen Co. will post 1.22 EPS for the current year.

NEOG has been the topic of a number of analyst reports. Guggenheim initiated coverage on shares of Neogen in a research note on Thursday, May 23rd. They issued a “neutral” rating on the stock. ValuEngine raised shares of Neogen from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. BidaskClub raised shares of Neogen from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Craig Hallum upped their price objective on shares of Neogen from $72.00 to $78.00 and gave the company an “in-line” rating in a research note on Wednesday, July 24th. Finally, Zacks Investment Research lowered shares of Neogen from a “hold” rating to a “sell” rating and set a $68.00 price objective on the stock. in a research note on Friday, June 21st. One analyst has rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Neogen currently has a consensus rating of “Hold” and a consensus target price of $73.00.

Several hedge funds have recently added to or reduced their stakes in NEOG. BlackRock Inc. raised its stake in shares of Neogen by 2.1% during the second quarter. BlackRock Inc. now owns 7,643,175 shares of the company’s stock worth $474,718,000 after acquiring an additional 160,186 shares in the last quarter. Brown Capital Management LLC raised its stake in shares of Neogen by 3.7% during the second quarter. Brown Capital Management LLC now owns 6,582,835 shares of the company’s stock worth $408,860,000 after acquiring an additional 236,702 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Neogen by 2.3% during the second quarter. Vanguard Group Inc. now owns 5,373,046 shares of the company’s stock worth $333,721,000 after acquiring an additional 121,899 shares in the last quarter. Wasatch Advisors Inc. raised its stake in shares of Neogen by 23.4% during the first quarter. Wasatch Advisors Inc. now owns 2,597,553 shares of the company’s stock worth $149,074,000 after acquiring an additional 492,494 shares in the last quarter. Finally, Conestoga Capital Advisors LLC raised its stake in shares of Neogen by 3.0% during the second quarter. Conestoga Capital Advisors LLC now owns 1,593,083 shares of the company’s stock worth $98,946,000 after acquiring an additional 47,025 shares in the last quarter. Institutional investors own 88.13% of the company’s stock.

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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