Neogen Co. (NASDAQ:NEOG) COO Douglas Edward Jones Buys 10,000 Shares of Stock

Neogen Co. (NASDAQ:NEOG) COO Douglas Edward Jones acquired 10,000 shares of Neogen stock in a transaction dated Wednesday, April 17th. The stock was purchased at an average price of $12.36 per share, with a total value of $123,600.00. Following the completion of the purchase, the chief operating officer now owns 46,131 shares of the company’s stock, valued at $570,179.16. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Neogen Stock Performance

Shares of NASDAQ:NEOG opened at $12.14 on Thursday. The business’s 50 day moving average price is $15.61 and its 200-day moving average price is $16.58. The firm has a market capitalization of $2.63 billion, a PE ratio of 1,215.22 and a beta of 1.13. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.82 and a quick ratio of 2.66. Neogen Co. has a 1 year low of $11.74 and a 1 year high of $24.09.

Neogen (NASDAQ:NEOG) last released its quarterly earnings data on Tuesday, April 9th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). The company had revenue of $228.80 million for the quarter, compared to analyst estimates of $230.01 million. Neogen had a return on equity of 3.35% and a net margin of 0.17%. The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the firm posted $0.12 EPS. As a group, equities research analysts expect that Neogen Co. will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Neogen

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEOG. Steward Partners Investment Advisory LLC acquired a new position in Neogen during the first quarter worth $29,000. O Dell Group LLC purchased a new stake in Neogen in the fourth quarter valued at $37,000. State of Tennessee Treasury Department purchased a new stake in Neogen in the first quarter valued at $45,000. International Assets Investment Management LLC purchased a new stake in Neogen in the third quarter valued at $49,000. Finally, Allspring Global Investments Holdings LLC raised its position in Neogen by 416.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,033 shares of the company’s stock valued at $56,000 after purchasing an additional 2,446 shares during the period. Institutional investors and hedge funds own 96.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reduced their price target on Neogen from $19.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday.

About Neogen

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.