Neogen Co. (NASDAQ:NEOG) Director James P. Tobin Acquires 10,000 Shares of Stock

Neogen Co. (NASDAQ:NEOG) Director James P. Tobin acquired 10,000 shares of the stock in a transaction on Tuesday, April 22nd. The shares were acquired at an average cost 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 in the company, valued at $177,252.02. The trade was a 36.40 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Neogen Trading Up 1.3 %

NASDAQ NEOG opened at $4.75 on Wednesday. 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 stock has a market capitalization of $1.03 billion, a P/E ratio of -2.17 and a beta of 1.57. Neogen Co. has a 52-week low of $3.87 and a 52-week high of $18.58. The firm has a 50-day moving average price of $8.30 and a 200 day moving average price of $11.42.

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 analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $225.27 million. During the same period last year, the company posted $0.12 earnings per share. The business’s quarterly revenue was down 3.4% on a year-over-year basis. Equities research analysts expect that Neogen Co. will post 0.38 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Guggenheim dropped their price target on Neogen from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Piper Sandler cut their price target on Neogen from $6.40 to $5.00 and set a “neutral” rating for the company in a research note on Tuesday.

Institutional Investors Weigh In On Neogen

Several institutional investors have recently made changes to their positions in NEOG. Harbour Investments Inc. acquired a new stake in shares of Neogen in the fourth quarter valued at 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 acquiring an additional 2,931 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Neogen by 196.7% in the 4th quarter. Blue Trust Inc. now owns 3,368 shares of the company’s stock worth $41,000 after acquiring an additional 2,233 shares during the period. Johnson Financial Group Inc. purchased a new position in Neogen in the 4th quarter valued at approximately $43,000. Finally, Covestor Ltd raised its holdings in Neogen by 41.4% during the fourth quarter. Covestor Ltd now owns 4,103 shares of the company’s stock worth $50,000 after purchasing an additional 1,202 shares during the last quarter. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

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.