Neogen Corporation (NEOG) Insider James L. Herbert Sells 26,000 Shares of Stock
Neogen Corporation (NASDAQ:NEOG) insider James L. Herbert sold 26,000 shares of the stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $81.45, for a total transaction of $2,117,700.00. Following the completion of the sale, the insider now owns 879,430 shares in the company, valued at $71,629,573.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Neogen Corporation (NASDAQ:NEOG) traded up $1.17 during midday trading on Friday, reaching $80.99. The company had a trading volume of 89,700 shares, compared to its average volume of 111,845. Neogen Corporation has a twelve month low of $59.51 and a twelve month high of $82.75. The company has a market cap of $3,060.00, a PE ratio of 67.08, a price-to-earnings-growth ratio of 4.06 and a beta of 1.53.
Neogen Corporation (NASDAQ:NEOG) last posted its earnings results on Tuesday, September 19th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. Neogen Corporation had a return on equity of 9.93% and a net margin of 12.28%. The business had revenue of $95.30 million during the quarter, compared to analysts’ expectations of $94.87 million. During the same period in the prior year, the business earned $0.26 EPS. Neogen Corporation’s revenue for the quarter was up 14.0% compared to the same quarter last year. analysts anticipate that Neogen Corporation will post 1.31 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of NEOG. SG Americas Securities LLC bought a new stake in Neogen Corporation during the 2nd quarter worth approximately $154,000. Riverhead Capital Management LLC increased its stake in Neogen Corporation by 91.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,297 shares of the company’s stock worth $159,000 after purchasing an additional 1,097 shares in the last quarter. Bell Bank bought a new stake in Neogen Corporation during the 3rd quarter worth approximately $201,000. Parametrica Management Ltd bought a new stake in Neogen Corporation during the 3rd quarter worth approximately $202,000. Finally, Victory Capital Management Inc. increased its stake in Neogen Corporation by 17.5% during the 2nd quarter. Victory Capital Management Inc. now owns 2,989 shares of the company’s stock worth $207,000 after purchasing an additional 446 shares in the last quarter. 86.57% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently weighed in on NEOG. BidaskClub downgraded shares of Neogen Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Zacks Investment Research downgraded shares of Neogen Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 18th.
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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