Neogen (NASDAQ:NEOG) Shares Up 4.8% – Time to Buy?

Neogen Co. (NASDAQ:NEOG) shares shot up 4.8% during trading on Thursday . The stock traded as high as $6.42 and last traded at $6.41. 142,455 shares changed hands during trading, a decline of 95% from the average session volume of 3,051,821 shares. The stock had previously closed at $6.11.

Analyst Upgrades and Downgrades

Several brokerages have commented on NEOG. Guggenheim cut their target price on Neogen from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Piper Sandler dropped their target price on shares of Neogen from $6.40 to $5.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd.

Neogen Stock Down 4.7%

The company has a quick ratio of 2.46, a current ratio of 3.77 and a debt-to-equity ratio of 0.33. The company’s fifty day moving average is $6.17 and its 200-day moving average is $9.76. The company has a market cap of $1.28 billion, a PE ratio of -2.70 and a beta of 1.83.

Neogen (NASDAQ:NEOG) last issued its earnings results 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 company had revenue of $221.00 million during the quarter, compared to analysts’ expectations of $225.27 million. During the same quarter in the prior year, the business posted $0.12 EPS. The company’s revenue for the quarter was down 3.4% compared to the same quarter last year. On average, analysts predict that Neogen Co. will post 0.38 EPS for the current year.

Insider Transactions at Neogen

In other Neogen news, CAO John Patrick Moylan purchased 10,000 shares of the company’s stock in a transaction dated Thursday, April 10th. The shares were acquired at an average price of $5.07 per share, for a total transaction of $50,700.00. Following the purchase, the chief accounting officer now directly owns 10,000 shares of the company’s stock, valued at $50,700. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Amy M. Rocklin bought 12,500 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The shares were purchased at an average price of $4.99 per share, for a total transaction of $62,375.00. Following the purchase, the insider now owns 36,287 shares in the company, valued at $181,072.13. This represents a 52.55% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 83,500 shares of company stock worth $431,525 in the last 90 days. 1.13% of the stock is currently owned by insiders.

Institutional Trading of Neogen

Institutional investors and hedge funds have recently bought and sold shares of the stock. Harbour Investments Inc. bought a new stake in shares of Neogen in the 4th quarter worth about $27,000. Versant Capital Management Inc boosted its stake in shares of Neogen by 1,495.4% during the 1st quarter. Versant Capital Management Inc now owns 3,127 shares of the company’s stock worth $27,000 after purchasing an additional 2,931 shares during the period. Blue Trust Inc. boosted its position in 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 during the period. Johnson Financial Group Inc. purchased a new stake in Neogen in the 4th quarter valued at about $43,000. Finally, Covestor Ltd boosted its position in 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 during the period. 96.73% of the stock is currently owned by institutional investors.

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.