Neogen Co. (NASDAQ:NEOG - Get Free Report) Director James P. Tobin purchased 10,000 shares of the stock in a transaction dated Tuesday, April 22nd. The stock was acquired at an average price of $4.73 per share, for a total transaction of $47,300.00. Following the completion of the transaction, the director now directly owns 37,474 shares of the company's stock, valued at approximately $177,252.02. The trade was a 36.40 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Neogen Stock Up 1.3 %
Shares of NASDAQ NEOG opened at $4.75 on Wednesday. The firm's 50 day moving average price is $8.30 and its 200 day moving average price is $11.42. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.46 and a current ratio of 3.77. The firm has a market cap of $1.03 billion, a P/E ratio of -2.17 and a beta of 1.57. Neogen Co. has a 1 year low of $3.87 and a 1 year high of $18.58.
Neogen (NASDAQ:NEOG - Get Free Report) last released its earnings results on Wednesday, April 9th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.02). Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The business had revenue of $221.00 million during the quarter, compared to analyst estimates of $225.27 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. The business's revenue for the quarter was down 3.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Neogen Co. will post 0.38 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on NEOG shares. Piper Sandler lowered their target price on Neogen from $6.40 to $5.00 and set a "neutral" rating on the stock in a report on Tuesday. Guggenheim decreased their price objective on Neogen from $15.00 to $13.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th.
Read Our Latest Stock Analysis on Neogen
Institutional Investors Weigh In On Neogen
Several hedge funds have recently modified their holdings of NEOG. Connable Office Inc. raised its stake in Neogen by 5.6% during the fourth quarter. Connable Office Inc. now owns 18,793 shares of the company's stock worth $228,000 after purchasing an additional 1,000 shares during the period. Covestor Ltd raised its position in shares of Neogen by 41.4% in the 4th quarter. Covestor Ltd now owns 4,103 shares of the company's stock worth $50,000 after buying an additional 1,202 shares during the period. Inspire Advisors LLC boosted its holdings in Neogen by 10.1% in the fourth quarter. Inspire Advisors LLC now owns 14,226 shares of the company's stock valued at $173,000 after acquiring an additional 1,304 shares during the last quarter. CHICAGO TRUST Co NA grew its position in Neogen by 19.1% during the first quarter. CHICAGO TRUST Co NA now owns 12,498 shares of the company's stock valued at $108,000 after acquiring an additional 2,000 shares during the period. Finally, Ascent Group LLC increased its stake in Neogen by 17.8% during the fourth quarter. Ascent Group LLC now owns 14,340 shares of the company's stock worth $174,000 after acquiring an additional 2,165 shares during the last quarter. 96.73% of the stock is owned by institutional investors and hedge funds.
About Neogen
(
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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