Neogen Co. (NASDAQ:NEOG) Director Acquires $100,000.00 in Stock

Neogen Co. (NASDAQ:NEOG) Director Aashima Gupta bought 16,000 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were bought at an average price of $6.25 per share, with a total value of $100,000.00. Following the purchase, the director now owns 21,917 shares in the company, valued at $136,981.25. The trade was a 270.41% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Neogen Stock Performance

Neogen stock traded up $0.52 during midday trading on Monday, hitting $6.49. The company’s stock had a trading volume of 5,253,480 shares, compared to its average volume of 2,941,424. Neogen Co. has a 1-year low of $3.87 and a 1-year high of $18.58. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.77 and a quick ratio of 2.46. The company has a 50-day moving average price of $7.10 and a two-hundred day moving average price of $10.60. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -2.96 and a beta of 1.83.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings data on Wednesday, April 9th. The company reported $0.10 earnings per share 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 quarter last year, the firm earned $0.12 EPS. Neogen’s revenue for the quarter was down 3.4% compared to the same quarter last year. As a group, sell-side analysts predict that Neogen Co. will post 0.38 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NEOG. Guggenheim cut their target price on shares of Neogen from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Piper Sandler cut their target price on shares of Neogen from $6.40 to $5.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd.

Institutional Trading of Neogen

Several hedge funds and other institutional investors have recently bought and sold shares of NEOG. Harbour Investments Inc. acquired a new stake in Neogen in the 4th quarter worth about $27,000. Versant Capital Management Inc raised its position in shares of Neogen by 1,495.4% in the 1st quarter. Versant Capital Management Inc now owns 3,127 shares of the company’s stock valued at $27,000 after buying an additional 2,931 shares in the last quarter. Blue Trust Inc. raised its position in shares of Neogen by 196.7% in the 4th quarter. Blue Trust Inc. now owns 3,368 shares of the company’s stock valued at $41,000 after buying an additional 2,233 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in shares of Neogen in the 4th quarter valued at approximately $43,000. Finally, 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 valued at $50,000 after buying an additional 1,202 shares in the last quarter. Institutional investors and hedge funds own 96.73% of the company’s stock.

Neogen Company Profile

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.