Stock Monitor: Atossa Genetics Post Earnings Reporting
LONDON, UK / ACCESSWIRE / December 12, 2017 / Active-Investors issued a free report on Neogen Corp. (NASDAQ: NEOG), which is readily accessible upon registration at www.active-investors.com/registration-sg/?symbol=NEOG as the Company's latest news hit the wire. On December 08, 2017, the Company's Board of Directors announced the approval for its stock to be split in a four-for-three ratio. This means that shareholders will receive one extra share for every three shares they hold. Sign up now for our free research reports at:
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Commenting on the stock split, James Herbert, Executive Chairman of Neogen, said:
"We are very pleased to be able to enhance the availability and liquidity of our shares to allow more participation in Neogen's success. This stock split reflects our Board's strong belief in Neogen's long-term growth, and recognizes the stock price has increased significantly during the past year."
Details of the stock split
The Company plans to issue new stock for this and has finalized the effective date for the stock split on December 29, 2017. The split is applicable to all shareholders on record till the end of business hours on December 18, 2017. The total outstanding shares of the Company as on December 08, 2017, are approximately 38,630,000 shares. After implementing the stock split, the Company's total outstanding shares will increase to approximately 51,500,000 shares. The current stock split is the fifth in the Company's history. The last stock split announced by the Company was in October 2013, when the stock was split in a three-for-two ratio.
Shareholders left holding any fractional shares of the Company because of the current stock split will have the option of exchanging the fractional shares for cash. The cash will be calculated based on the price of the Company's share at the end of trade on December 18, 2017. The Company has also advised its shareholders to consult their broker in case they are planning to make any transaction related to its stock between the record date and payment date
The Company also announced that it would be sharing its financial results for Q2 2018 fiscal year ended on November 30, 2017, on January 03, 2018.
About Neogen Corp.
Lansing, Michigan-based Neogen was founded in 1982 and develops, manufactures, and markets products for food and animal safety.
The Company's Food Safety Division develops and markets dehydrated culture media and rapid diagnostic test kits to detect foodborne bacteria, spoilage organisms, mycotoxins, food allergens, genetic modifications, drug residues, plant diseases, and sanitation concerns.
The Animal Safety Division develops and markets a complete line of diagnostics, veterinary instruments, veterinary pharmaceuticals, nutritional supplements, disinfectants, and rodenticides.
The Company also has business operations in Genomics, Life Sciences and Toxicology.
The genomics division provides innovative, affordable DNA testing services for food, animals, aquaculture, agronomy, forestry and horticulture, as well as supporting the research institutions, breed associations and breeding Companies serving these industries.
The Company's Life Sciences Solutions division develops and manufactures ELISA test kits and substrates and reagents as well as automated and semi-automated testing equipment for immunoassays.
The Toxicology division offers ELISA test kits for forensic toxicology, animal sport toxicology as well as services and support for automated and semi-automated testing equipment.
Neogen has a worldwide presence which include the US, Mexico, Brazil, Scotland, England, India, and China. In the US it has facilities at Lexington, Kentucky; Randolph, Wisconsin; Lincoln, Nebraska, etc.
Stock Performance Snapshot
December 11, 2017 - At Monday's closing bell, Neogen's stock dropped 2.37%, ending the trading session at $79.16.
Volume traded for the day: 102.74 thousand shares.
Stock performance in the last three-month – up 11.68%; previous six-month period – up 16.65%; past twelve-month period – up 16.62%; and year-to-date - up 19.94%
After yesterday's close, Neogen's market cap was at $3.00 billion.
Price to Earnings (P/E) ratio was at 66.47.
The stock is part of the Healthcare sector, categorized under the Diagnostic Substances industry. This sector was up 0.3% at the end of the session.
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