Neogen Corporation (NASDAQ:NEOG)’s Chief Executive Officer and Chairman, James Herbert, unloaded 10,000 shares of Common Stock, directly, yesterday, for a price of $44.17 per share. The insider also exercised his use of stock options in order to complete the transaction. This is Herbert’s fifth stock disposition of the fiscal year so far, with his last large sale dating back to February, when he unloaded 25,000 shares of Common Stock for a price of $39.57 per share.
However, Herbert isn’t the only insider selling stock at Neogen Corporation. The firm’s Vice President, Edward Bradley, disposed of 13,454 shares of Common Stock in April, for a price of $45.18 per share, just two days after unloading 13,834 shares for $45.01 per share.
On another note, several hedge funds have reduced their stakes in Neogen Corporation (NASDAQ:NEOG). Matthew A. Weatherbie’s Weatherbie Capital decreased exposure to the company by 82% during the first quarter of 2014 and owns 34,479 shares, with an estimated value of $1.5 million as of the end of March.