Neogen Co. (NASDAQ:NEOG) Director Bruce Papesh Sells 30,000 Shares

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Neogen Co. (NASDAQ:NEOG) Director Bruce Papesh sold 30,000 shares of the business’s stock in a transaction dated Wednesday, January 13th. The stock was sold at an average price of $83.40, for a total value of $2,502,000.00. Following the sale, the director now owns 42,261 shares in the company, valued at $3,524,567.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of NEOG opened at $82.96 on Thursday. The stock has a 50 day moving average of $79.40 and a 200 day moving average of $75.83. Neogen Co. has a 12 month low of $48.91 and a 12 month high of $84.67. The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of 72.14, a PEG ratio of 6.43 and a beta of 0.50.

Neogen (NASDAQ:NEOG) last released its earnings results on Monday, December 21st. The company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.01). Neogen had a return on equity of 8.43% and a net margin of 14.24%. The firm had revenue of $115.00 million during the quarter, compared to analysts’ expectations of $115.22 million. During the same period in the prior year, the business earned $0.31 earnings per share. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. Sell-side analysts anticipate that Neogen Co. will post 1.24 EPS for the current year.

Large investors have recently added to or reduced their stakes in the business. USA Financial Portformulas Corp purchased a new stake in Neogen in the third quarter worth $40,000. Hall Laurie J Trustee purchased a new stake in Neogen in the third quarter worth $65,000. Private Advisor Group LLC purchased a new stake in Neogen in the second quarter worth $94,000. NEXT Financial Group Inc purchased a new stake in Neogen in the third quarter worth $140,000. Finally, Venturi Wealth Management LLC purchased a new stake in Neogen in the third quarter worth $176,000. 88.44% of the stock is owned by institutional investors and hedge funds.

Separately, BidaskClub cut Neogen from a “buy” rating to a “hold” rating in a research note on Monday, December 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $75.67.

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 offers diagnostic test kits and related products to detect dangerous and unintended substances in food and animal feed, including 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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Insider Buying and Selling by Quarter for Neogen (NASDAQ:NEOG)

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