Insider Selling: Neogen CEO Sells 14,829 Shares of Stock (NEOG)
Neogen (NASDAQ:NEOG) CEO James L. Herbert sold 14,829 shares of Neogen stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $41.98, for a total transaction of $622,521.42. Following the completion of the sale, the chief executive officer now directly owns 897,782 shares of the company’s stock, valued at approximately $37,688,888. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Cowen and Company initiated coverage on shares of Neogen in a research note on Monday, August 11th. They set a “market perform” rating and a $39.00 price target on the stock. Separately, analysts at Stephens upgraded shares of Neogen from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 23rd. Finally, analysts at Craig Hallum upgraded shares of Neogen from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $46.00.
Neogen (NASDAQ:NEOG) traded down 0.45% during mid-day trading on Thursday, hitting $41.75. The stock had a trading volume of 78,422 shares. Neogen has a 1-year low of $35.50 and a 1-year high of $51.22. The stock’s 50-day moving average is $42.78 and its 200-day moving average is $41.70. The company has a market cap of $1.534 billion and a P/E ratio of 55.18.
Neogen (NASDAQ:NEOG) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by $0.02. The company had revenue of $67.30 million for the quarter, compared to the consensus estimate of $66.36 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. On average, analysts predict that Neogen will post $0.93 earnings per share for the current fiscal year.
Neogen Corporation (NASDAQ:NEOG) together with its subsidiaries, develops, manufactures, and markets a diverse line of products dedicated to food and animal safety.
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