Neogen (NEOG) Reaches New 12-Month High at $81.60
Neogen Co. (NASDAQ:NEOG) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $81.60 and last traded at $81.14, with a volume of 3720 shares trading hands. The stock had previously closed at $80.32.
NEOG has been the topic of several research analyst reports. Zacks Investment Research raised Neogen from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research report on Wednesday, March 28th. BidaskClub downgraded Neogen from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 24th. ValuEngine raised Neogen from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, Stephens reaffirmed a “hold” rating and issued a $65.00 price target (up from $62.00) on shares of Neogen in a research report on Monday, March 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $65.25.
The stock has a market cap of $4.22 billion, a PE ratio of 72.94, a PEG ratio of 4.32 and a beta of 1.29.
In related news, VP Terri A. Morrical sold 14,800 shares of Neogen stock in a transaction dated Friday, April 6th. The stock was sold at an average price of $67.78, for a total transaction of $1,003,144.00. Following the sale, the vice president now directly owns 44,775 shares of the company’s stock, valued at $3,034,849.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director G Bruce Papesh sold 6,000 shares of Neogen stock in a transaction dated Wednesday, May 16th. The stock was sold at an average price of $72.50, for a total value of $435,000.00. Following the sale, the director now directly owns 26,261 shares in the company, valued at $1,903,922.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 117,320 shares of company stock worth $8,194,973. 4.20% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. LPL Financial LLC grew its position in Neogen by 15.4% during the first quarter. LPL Financial LLC now owns 5,288 shares of the company’s stock worth $354,000 after buying an additional 705 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its position in Neogen by 28.8% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,337 shares of the company’s stock worth $223,000 after buying an additional 747 shares in the last quarter. Aperio Group LLC grew its position in Neogen by 3.4% during the first quarter. Aperio Group LLC now owns 22,711 shares of the company’s stock worth $1,521,000 after buying an additional 748 shares in the last quarter. UBS Group AG grew its position in Neogen by 4.7% during the first quarter. UBS Group AG now owns 20,077 shares of the company’s stock worth $1,345,000 after buying an additional 893 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its position in Neogen by 5.8% during the first quarter. BNP Paribas Arbitrage SA now owns 16,534 shares of the company’s stock worth $1,108,000 after buying an additional 912 shares in the last quarter. 89.09% of the stock is currently owned by institutional investors and hedge funds.
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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