BidaskClub upgraded shares of Neogen (NASDAQ:NEOG) from a sell rating to a hold rating in a report released on Wednesday morning, BidAskClub reports.

Other equities analysts also recently issued reports about the company. Zacks Investment Research upgraded Neogen from a sell rating to a hold rating and set a $48.00 price objective on the stock in a research report on Monday, June 3rd. Guggenheim assumed coverage on Neogen in a research report on Thursday, May 23rd. They issued a neutral rating on the stock. Finally, Craig Hallum upgraded Neogen from a hold rating to a buy rating and set a $62.76 price objective on the stock in a research report on Tuesday, March 19th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $55.38.

Shares of Neogen stock opened at $62.01 on Wednesday. Neogen has a 52 week low of $50.60 and a 52 week high of $97.38. The stock has a market capitalization of $3.21 billion, a PE ratio of 52.19, a price-to-earnings-growth ratio of 5.05 and a beta of 1.35.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings data on Tuesday, March 26th. The company reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.02). Neogen had a net margin of 14.96% and a return on equity of 10.48%. The business had revenue of $97.70 million during the quarter, compared to analysts’ expectations of $102.55 million. During the same quarter in the previous year, the firm earned $0.32 earnings per share. Neogen’s revenue was up 3.0% on a year-over-year basis. As a group, sell-side analysts predict that Neogen will post 1.12 EPS for the current fiscal year.

In related news, Director James L. Herbert sold 5,000 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $60.73, for a total value of $303,650.00. Following the sale, the director now directly owns 671,484 shares in the company, valued at $40,779,223.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James L. Herbert sold 15,000 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $59.05, for a total value of $885,750.00. Following the completion of the sale, the director now owns 671,484 shares in the company, valued at $39,651,130.20. The disclosure for this sale can be found here. Insiders sold 103,385 shares of company stock worth $6,027,055 over the last quarter. 3.00% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of NEOG. Brand Asset Management Group Inc. bought a new stake in Neogen during the first quarter worth approximately $39,000. Manchester Capital Management LLC increased its stake in Neogen by 105.6% during the first quarter. Manchester Capital Management LLC now owns 590 shares of the company’s stock worth $34,000 after acquiring an additional 303 shares during the last quarter. Buffington Mohr McNeal bought a new stake in Neogen during the first quarter worth approximately $43,000. Captrust Financial Advisors increased its stake in Neogen by 47.0% during the fourth quarter. Captrust Financial Advisors now owns 970 shares of the company’s stock worth $55,000 after acquiring an additional 310 shares during the last quarter. Finally, First Hawaiian Bank increased its stake in Neogen by 116.6% during the first quarter. First Hawaiian Bank now owns 1,005 shares of the company’s stock worth $58,000 after acquiring an additional 541 shares during the last quarter. Institutional investors own 90.13% of the company’s stock.

About Neogen

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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