Neogen Co. (NASDAQ:NEOG - Get Free Report) CAO John Patrick Moylan acquired 10,000 shares of Neogen stock in a transaction that occurred on Thursday, April 10th. The stock was bought at an average cost of $5.07 per share, with a total value of $50,700.00. Following the acquisition, the chief accounting officer now directly owns 10,000 shares of the company's stock, valued at approximately $50,700. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Neogen Trading Up 12.2 %
Shares of NEOG stock opened at $5.63 on Friday. The stock has a 50-day simple moving average of $9.18 and a 200 day simple moving average of $12.04. The stock has a market capitalization of $1.22 billion, a P/E ratio of -2.57 and a beta of 1.57. Neogen Co. has a fifty-two week low of $3.87 and a fifty-two week high of $18.58. The company has a quick ratio of 2.46, a current ratio of 3.77 and a debt-to-equity ratio of 0.33.
Neogen (NASDAQ:NEOG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 9th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.02). Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The business had revenue of $221.00 million during the quarter, compared to analyst estimates of $225.27 million. During the same period in the prior year, the firm earned $0.12 EPS. The business's revenue for the quarter was down 3.4% on a year-over-year basis. On average, sell-side analysts expect that Neogen Co. will post 0.38 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Neogen
Several large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets lifted its holdings in shares of Neogen by 157.2% during the third quarter. BNP Paribas Financial Markets now owns 61,464 shares of the company's stock valued at $1,033,000 after purchasing an additional 37,571 shares during the last quarter. State Street Corp raised its holdings in Neogen by 3.1% during the 3rd quarter. State Street Corp now owns 7,932,192 shares of the company's stock worth $133,340,000 after buying an additional 236,762 shares during the period. Barclays PLC raised its holdings in Neogen by 129.8% during the 3rd quarter. Barclays PLC now owns 366,753 shares of the company's stock worth $6,165,000 after buying an additional 207,160 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Neogen by 0.4% in the third quarter. Geode Capital Management LLC now owns 5,148,388 shares of the company's stock worth $86,559,000 after buying an additional 20,387 shares during the period. Finally, Neo Ivy Capital Management purchased a new position in shares of Neogen in the third quarter worth approximately $66,000. 96.73% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the stock. Guggenheim dropped their price target on shares of Neogen from $15.00 to $13.00 and set a "buy" rating on the stock in a research report on Thursday. Piper Sandler reissued a "neutral" rating and set a $13.00 target price (down previously from $16.50) on shares of Neogen in a report on Tuesday, January 21st.
Get Our Latest Analysis on Neogen
Neogen Company Profile
(
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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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