Neogen Co. (NASDAQ:NEOG) Director James C. Borel Acquires 7,500 Shares

Neogen Co. (NASDAQ:NEOG) Director James C. Borel purchased 7,500 shares of the firm’s stock in a transaction dated Thursday, April 11th. The shares were bought at an average cost of $13.06 per share, with a total value of $97,950.00. Following the purchase, the director now directly owns 21,392 shares of the company’s stock, valued at approximately $279,379.52. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Neogen Stock Performance

Shares of NEOG stock opened at $12.38 on Friday. The business’s fifty day simple moving average is $15.81 and its 200-day simple moving average is $16.72. The company has a market cap of $2.68 billion, a PE ratio of 1,239.24 and a beta of 1.13. The company has a current ratio of 3.82, a quick ratio of 2.63 and a debt-to-equity ratio of 0.28. Neogen Co. has a 12-month low of $12.18 and a 12-month high of $24.09.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings results on Tuesday, April 9th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). The business 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 revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.12 earnings per share. Analysts expect that Neogen Co. will post 0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Neogen

A number of large investors have recently made changes to their positions in the stock. Northwest Investment Counselors LLC grew its holdings in shares of Neogen by 1.1% during the first quarter. Northwest Investment Counselors LLC now owns 71,621 shares of the company’s stock valued at $1,130,000 after buying an additional 809 shares during the last quarter. Bridge City Capital LLC grew its holdings in shares of Neogen by 0.8% during the first quarter. Bridge City Capital LLC now owns 177,204 shares of the company’s stock valued at $2,796,000 after buying an additional 1,389 shares during the last quarter. Moody National Bank Trust Division purchased a new stake in shares of Neogen during the first quarter valued at $161,000. Napatree Capital LLC purchased a new stake in shares of Neogen during the fourth quarter valued at $788,000. Finally, Vanguard Group Inc. boosted its holdings in Neogen by 9.3% in the fourth quarter. Vanguard Group Inc. now owns 19,546,737 shares of the company’s stock valued at $393,085,000 after purchasing an additional 1,663,125 shares during the last quarter. 96.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Piper Sandler boosted their price objective on shares of Neogen from $17.50 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th.

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.