Shares of Neogen Co. (NASDAQ:NEOG) hit a new 52-week high on Monday . The stock traded as high as $79.88 and last traded at $79.65, with a volume of 3393 shares traded. The stock had previously closed at $77.93.
NEOG has been the subject of several research analyst reports. TheStreet raised shares of Neogen from a “c” rating to a “b-” rating in a research note on Monday, May 11th. BidaskClub raised shares of Neogen from a “hold” rating to a “buy” rating in a research note on Friday, June 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Neogen currently has a consensus rating of “Hold” and a consensus target price of $76.67.
The company’s 50 day simple moving average is $71.78 and its two-hundred day simple moving average is $66.98. The company has a market cap of $4.12 billion, a PE ratio of 69.81, a price-to-earnings-growth ratio of 6.36 and a beta of 0.75.
In other Neogen news, Director James L. Herbert sold 19,368 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $66.13, for a total transaction of $1,280,805.84. Following the sale, the director now owns 21,872 shares of the company’s stock, valued at $1,446,395.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Jason Warren Lilly sold 885 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $64.00, for a total transaction of $56,640.00. Following the sale, the vice president now directly owns 10,409 shares in the company, valued at approximately $666,176. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. State of Tennessee Treasury Department raised its holdings in Neogen by 0.6% during the first quarter. State of Tennessee Treasury Department now owns 28,659 shares of the company’s stock worth $1,920,000 after purchasing an additional 173 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Neogen by 17.6% in the 4th quarter. Quadrant Capital Group LLC now owns 1,436 shares of the company’s stock valued at $90,000 after acquiring an additional 215 shares during the period. Profund Advisors LLC increased its holdings in shares of Neogen by 4.0% in the 4th quarter. Profund Advisors LLC now owns 6,352 shares of the company’s stock valued at $415,000 after acquiring an additional 246 shares during the period. Sunbelt Securities Inc. acquired a new position in shares of Neogen in the 4th quarter valued at $4,220,000. Finally, Versant Capital Management Inc increased its holdings in shares of Neogen by 256.2% in the 1st quarter. Versant Capital Management Inc now owns 374 shares of the company’s stock valued at $25,000 after acquiring an additional 269 shares during the period. 92.96% of the stock is currently owned by institutional investors.
About Neogen (NASDAQ:NEOG)
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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