Neogen (NASDAQ:NEOG) had its price objective boosted by stock analysts at Craig Hallum from $62.00 to $80.00 in a report issued on Thursday, The Fly reports. The firm currently has a “hold” rating on the stock. Craig Hallum’s price objective would indicate a potential downside of 2.58% from the stock’s previous close.

NEOG has been the topic of a number of other reports. Zacks Investment Research lowered shares of Neogen from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. Roth Capital started coverage on shares of Neogen in a research note on Tuesday. They set a “neutral” rating and a $82.00 target price on the stock. Finally, BidaskClub downgraded shares of Neogen from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. Five investment analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and an average price target of $85.00.

Shares of Neogen (NEOG) traded up $0.53 during midday trading on Thursday, hitting $82.12. 105,200 shares of the stock traded hands, compared to its average volume of 110,820. The firm has a market capitalization of $3,116.89, a price-to-earnings ratio of 68.56, a price-to-earnings-growth ratio of 4.15 and a beta of 1.54. Neogen has a 1-year low of $59.51 and a 1-year high of $85.89.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings results on Tuesday, September 19th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The firm had revenue of $95.30 million for the quarter, compared to analyst estimates of $94.87 million. Neogen had a net margin of 12.28% and a return on equity of 9.93%. Neogen’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.26 earnings per share. analysts predict that Neogen will post 1.31 earnings per share for the current fiscal year.

In other news, VP Edward Bradley sold 13,628 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $70.06, for a total value of $954,777.68. Following the sale, the vice president now directly owns 71,691 shares of the company’s stock, valued at approximately $5,022,671.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James L. Herbert sold 26,000 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $81.45, for a total transaction of $2,117,700.00. Following the completion of the sale, the insider now directly owns 879,430 shares in the company, valued at $71,629,573.50. The disclosure for this sale can be found here. Insiders have sold 186,662 shares of company stock worth $14,271,286 over the last ninety days. 4.20% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in shares of Neogen in the 2nd quarter valued at approximately $154,000. Riverhead Capital Management LLC raised its stake in shares of Neogen by 91.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,297 shares of the company’s stock valued at $159,000 after acquiring an additional 1,097 shares during the period. Bell Bank purchased a new stake in shares of Neogen in the 3rd quarter valued at approximately $201,000. Parametrica Management Ltd purchased a new stake in shares of Neogen in the 3rd quarter valued at approximately $202,000. Finally, Arcadia Investment Management Corp MI purchased a new stake in shares of Neogen in the 3rd quarter valued at approximately $230,000. 87.06% of the stock is currently owned by institutional investors and hedge funds.

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About Neogen

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.

The Fly

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