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

Neogen Co. (NASDAQ:NEOG) Director Aashima Gupta purchased 16,000 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were purchased at an average cost of $6.25 per share, with a total value of $100,000.00. Following the completion of the purchase, the director now owns 21,917 shares in the company, valued at $136,981.25. This trade represents a 270.41% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Neogen Stock Down 1.7%

NASDAQ:NEOG opened at $6.38 on Thursday. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -2.91 and a beta of 1.83. Neogen Co. has a twelve month low of $3.87 and a twelve month high of $18.58. The company has a current ratio of 3.77, a quick ratio of 2.46 and a debt-to-equity ratio of 0.33. The stock has a fifty day simple moving average of $6.89 and a 200-day simple moving average of $10.49.

Neogen (NASDAQ:NEOG) last posted its quarterly 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). The company had revenue of $221.00 million during the quarter, compared to analysts’ expectations of $225.27 million. Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The company’s quarterly revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.12 EPS. Analysts anticipate that Neogen Co. will post 0.38 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on NEOG. Guggenheim decreased their price objective 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 reduced their price target on Neogen from $6.40 to $5.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd.

Hedge Funds Weigh In On Neogen

A number of institutional investors have recently modified their holdings of NEOG. Raymond James Financial Inc. purchased a new position in Neogen during the 4th quarter worth $2,744,000. Dimensional Fund Advisors LP grew its position in shares of Neogen by 24.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,939,984 shares of the company’s stock worth $84,254,000 after buying an additional 1,345,056 shares in the last quarter. Norges Bank bought a new position in shares of Neogen during the 4th quarter worth $212,171,000. Vanguard Group Inc. increased its stake in shares of Neogen by 9.8% during the fourth quarter. Vanguard Group Inc. now owns 21,637,251 shares of the company’s stock valued at $262,676,000 after buying an additional 1,928,491 shares during the period. Finally, Private Advisor Group LLC raised its holdings in shares of Neogen by 135.3% in the fourth quarter. Private Advisor Group LLC now owns 67,298 shares of the company’s stock valued at $817,000 after acquiring an additional 38,703 shares in the last quarter. 96.73% of the stock is 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.