Insider Selling: Neogen Co. (NASDAQ:NEOG) Director Sells 5,000 Shares of Stock

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Neogen Co. (NASDAQ:NEOG) Director James L. Herbert sold 5,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $62.93, for a total transaction of $314,650.00. Following the completion of the transaction, the director now directly owns 626,484 shares in the company, valued at approximately $39,424,638.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of NASDAQ:NEOG traded up $0.64 during trading hours on Wednesday, hitting $64.72. The stock had a trading volume of 148,570 shares, compared to its average volume of 205,871. The firm has a fifty day moving average price of $60.40. Neogen Co. has a 1-year low of $50.60 and a 1-year high of $97.38. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of 53.49, a price-to-earnings-growth ratio of 5.28 and a beta of 1.34.

Several large investors have recently made changes to their positions in the business. BlackRock Inc. increased its stake in shares of Neogen by 0.8% in the first quarter. BlackRock Inc. now owns 7,482,989 shares of the company’s stock valued at $429,448,000 after purchasing an additional 59,751 shares during the period. Wasatch Advisors Inc. increased its stake in shares of Neogen by 23.4% in the first quarter. Wasatch Advisors Inc. now owns 2,597,553 shares of the company’s stock valued at $149,074,000 after purchasing an additional 492,494 shares during the period. Conestoga Capital Advisors LLC increased its stake in shares of Neogen by 1.7% in the first quarter. Conestoga Capital Advisors LLC now owns 1,546,058 shares of the company’s stock valued at $88,728,000 after purchasing an additional 26,290 shares during the period. Riverbridge Partners LLC increased its stake in shares of Neogen by 26.2% in the second quarter. Riverbridge Partners LLC now owns 1,064,724 shares of the company’s stock valued at $66,130,000 after purchasing an additional 221,143 shares during the period. Finally, Neuberger Berman Group LLC increased its stake in shares of Neogen by 8.0% in the first quarter. Neuberger Berman Group LLC now owns 910,657 shares of the company’s stock valued at $52,263,000 after purchasing an additional 67,781 shares during the period. Institutional investors own 90.09% of the company’s stock.

A number of equities analysts have issued reports on NEOG shares. BidaskClub cut shares of Virtu Financial from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 12th. Guggenheim reissued a “buy” rating and issued a $95.00 target price (up previously from $90.00) on shares of VF in a report on Thursday, May 23rd. Zacks Investment Research lowered shares of Gold Resource from a “hold” rating to a “sell” rating in a research note on Friday, June 21st. Finally, Craig Hallum lowered shares of PFSweb from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Neogen has a consensus rating of “Hold” and a consensus price target of $65.38.

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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