Neogen Corporation (NASDAQ:NEOG) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

A number of other equities research analysts have also weighed in on the stock. Zacks Investment Research raised shares of Neogen Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 3rd. CL King initiated coverage on shares of Neogen Corporation in a report on Friday, July 14th. They set a “neutral” rating on the stock.

Shares of Neogen Corporation (NASDAQ NEOG) traded down 0.12% during mid-day trading on Friday, reaching $65.20. 83,388 shares of the company’s stock traded hands. The stock has a market cap of $2.49 billion, a PE ratio of 57.19 and a beta of 1.52. The firm has a 50 day moving average price of $66.83 and a 200-day moving average price of $65.01. Neogen Corporation has a 12 month low of $50.53 and a 12 month high of $69.97.

Neogen Corporation (NASDAQ:NEOG) last posted its earnings results on Tuesday, July 18th. The company reported $0.32 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.32. Neogen Corporation had a net margin of 12.11% and a return on equity of 9.87%. The firm had revenue of $98.80 million for the quarter, compared to analyst estimates of $100.80 million. During the same period in the previous year, the firm posted $0.26 EPS. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, analysts predict that Neogen Corporation will post $1.30 earnings per share for the current fiscal year.

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In other news, VP Edward Bradley sold 5,000 shares of the company’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $66.33, for a total value of $331,650.00. Following the sale, the vice president now directly owns 86,512 shares of the company’s stock, valued at approximately $5,738,340.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Steven J. Quinlan sold 4,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $68.68, for a total transaction of $274,720.00. Following the completion of the sale, the vice president now directly owns 14,103 shares in the company, valued at $968,594.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,333 shares of company stock worth $1,246,737. Insiders own 4.70% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Teachers Advisors LLC increased its position in Neogen Corporation by 2.8% in the fourth quarter. Teachers Advisors LLC now owns 62,771 shares of the company’s stock worth $4,143,000 after buying an additional 1,691 shares during the last quarter. Louisiana State Employees Retirement System increased its position in Neogen Corporation by 2.0% in the first quarter. Louisiana State Employees Retirement System now owns 15,500 shares of the company’s stock worth $1,016,000 after buying an additional 300 shares during the last quarter. State of Alaska Department of Revenue increased its position in Neogen Corporation by 3.4% in the first quarter. State of Alaska Department of Revenue now owns 4,210 shares of the company’s stock worth $275,000 after buying an additional 140 shares during the last quarter. Nationwide Fund Advisors increased its position in Neogen Corporation by 5.3% in the first quarter. Nationwide Fund Advisors now owns 357,911 shares of the company’s stock worth $23,461,000 after buying an additional 17,950 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its position in Neogen Corporation by 6.9% in the first quarter. Great West Life Assurance Co. Can now owns 53,513 shares of the company’s stock worth $3,507,000 after buying an additional 3,465 shares during the last quarter. 85.54% of the stock is currently owned by institutional investors.

About Neogen Corporation

Neogen Corporation develops, manufactures and markets a range of products and services dedicated to food and animal safety. The Company operates through two segments: Food Safety and Animal Safety. The Food Safety segment produces and markets diagnostic test kits and related products used by food producers and processors to detect harmful natural toxins, foodborne bacteria, allergens and levels of general sanitation.

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