Neogen Co. (NASDAQ:NEOG - Get Free Report) CEO John Edward Adent purchased 14,500 shares of the firm's stock in a transaction on Friday, October 11th. The stock was acquired at an average price of $13.80 per share, with a total value of $200,100.00. Following the completion of the transaction, the chief executive officer now owns 216,477 shares in the company, valued at approximately $2,987,382.60. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Neogen Stock Performance
NASDAQ:NEOG opened at $14.73 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.59 and a current ratio of 3.82. Neogen Co. has a fifty-two week low of $11.46 and a fifty-two week high of $20.89. The company has a 50 day simple moving average of $16.14 and a two-hundred day simple moving average of $15.17. The company has a market capitalization of $3.19 billion, a PE ratio of 1,473.00 and a beta of 1.21.
Neogen (NASDAQ:NEOG - Get Free Report) last posted its quarterly earnings data on Thursday, October 10th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.03). The firm had revenue of $217.00 million for the quarter, compared to analyst estimates of $215.05 million. Neogen had a positive return on equity of 3.09% and a negative net margin of 1.02%. The company's quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.11 earnings per share. Research analysts anticipate that Neogen Co. will post 0.54 earnings per share for the current year.
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Several analysts recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Neogen from $17.00 to $17.50 and gave the stock a "neutral" rating in a research note on Tuesday, August 6th. StockNews.com raised Neogen to a "sell" rating in a report on Monday, September 30th.
Read Our Latest Stock Report on Neogen
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in NEOG. William Blair Investment Management LLC lifted its stake in Neogen by 64.7% in the second quarter. William Blair Investment Management LLC now owns 12,013,072 shares of the company's stock valued at $187,764,000 after buying an additional 4,717,696 shares during the period. Baillie Gifford & Co. increased its stake in shares of Neogen by 42.3% in the 1st quarter. Baillie Gifford & Co. now owns 11,789,521 shares of the company's stock valued at $186,039,000 after acquiring an additional 3,502,807 shares in the last quarter. Select Equity Group L.P. lifted its position in shares of Neogen by 23.1% during the 2nd quarter. Select Equity Group L.P. now owns 15,530,439 shares of the company's stock valued at $242,741,000 after acquiring an additional 2,914,893 shares during the period. Dimensional Fund Advisors LP boosted its stake in Neogen by 148.3% during the second quarter. Dimensional Fund Advisors LP now owns 4,109,180 shares of the company's stock worth $64,229,000 after acquiring an additional 2,454,566 shares in the last quarter. Finally, Shapiro Capital Management LLC acquired a new stake in Neogen in the second quarter worth $31,087,000. 96.73% of the stock is owned by institutional investors and hedge funds.
Neogen Company Profile
(
Get Free Report)
Neogen Corporation, together with its subsidiaries, engages in the development, manufacture, and marketing of various products and services dedicated to 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 to detect the presence of adenosine triphosphate, a chemical found in living cells, as well as provides genomics-based diagnostic technology and software systems that help testers to objectively analyze and store their results and perform analysis on the results from multiple locations over extended periods.
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