Neogen (NASDAQ:NEOG) Sees Large Volume Increase Following Analyst Upgrade

Neogen Co. (NASDAQ:NEOGGet Rating) saw strong trading volume on Monday after Piper Sandler raised their price target on the stock from $25.00 to $26.00. Piper Sandler currently has a neutral rating on the stock. 69,701 shares traded hands during mid-day trading, a decline of 90% from the previous session’s volume of 688,731 shares.The stock last traded at $22.64 and had previously closed at $23.13.

Insider Buying and Selling

In other news, Director James P. Tobin bought 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The shares were bought at an average cost of $22.98 per share, for a total transaction of $45,960.00. Following the completion of the transaction, the director now owns 14,000 shares of the company’s stock, valued at $321,720. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On Neogen

Large investors have recently added to or reduced their stakes in the stock. GW&K Investment Management LLC bought a new stake in Neogen during the first quarter worth approximately $27,000. Patriot Financial Group Insurance Agency LLC increased its stake in Neogen by 87.5% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 913 shares of the company’s stock worth $28,000 after acquiring an additional 426 shares during the last quarter. First Horizon Advisors Inc. increased its stake in Neogen by 372.5% during the fourth quarter. First Horizon Advisors Inc. now owns 671 shares of the company’s stock worth $30,000 after acquiring an additional 529 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in Neogen during the first quarter worth approximately $34,000. Finally, FSB Premier Wealth Management Inc. bought a new stake in Neogen during the fourth quarter worth approximately $36,000. 92.91% of the stock is owned by institutional investors.

Neogen Stock Down 2.4 %

The company has a 50 day simple moving average of $24.00 and a two-hundred day simple moving average of $29.51. The company has a market capitalization of $2.43 billion, a P/E ratio of 50.18 and a beta of 0.58.

Neogen Company Profile

(Get Rating)

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 offers diagnostic test kits and related products to detect dangerous and unintended substances in food and animal feed, including 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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