Neogen (NASDAQ:NEOG) Hits New 52-Week Low on Analyst Downgrade

Shares of Neogen Co. (NASDAQ:NEOG) reached a new 52-week low during trading on Monday after Piper Sandler lowered their price target on the stock from $19.00 to $17.00. Piper Sandler currently has a neutral rating on the stock. Neogen traded as low as $12.15 and last traded at $12.28, with a volume of 767645 shares. The stock had previously closed at $12.38.

Insider Buying and Selling at Neogen

In related news, CEO John Edward Adent acquired 23,000 shares of the stock in a transaction on Wednesday, April 10th. The stock was bought at an average cost of $12.36 per share, with a total value of $284,280.00. Following the transaction, the chief executive officer now directly owns 152,389 shares in the company, valued at $1,883,528.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO David H. Naemura acquired 12,500 shares of the stock in a transaction on Wednesday, April 10th. The stock was bought at an average cost of $12.51 per share, with a total value of $156,375.00. Following the transaction, the chief financial officer now directly owns 30,040 shares in the company, valued at $375,800.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Edward Adent acquired 23,000 shares of the stock in a transaction on Wednesday, April 10th. The stock was bought at an average cost of $12.36 per share, with a total value of $284,280.00. Following the completion of the transaction, the chief executive officer now owns 152,389 shares in the company, valued at $1,883,528.04. The disclosure for this purchase can be found here. Insiders purchased a total of 43,000 shares of company stock valued at $538,605 in the last three months. Company insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On Neogen

Several large investors have recently modified their holdings of NEOG. Raymond James Trust N.A. raised its stake in shares of Neogen by 6.7% during the 1st quarter. Raymond James Trust N.A. now owns 6,981 shares of the company’s stock worth $215,000 after acquiring an additional 441 shares in the last quarter. United Services Automobile Association raised its stake in shares of Neogen by 4.5% during the 2nd quarter. United Services Automobile Association now owns 13,988 shares of the company’s stock worth $304,000 after acquiring an additional 608 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Neogen by 5.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 12,900 shares of the company’s stock worth $259,000 after acquiring an additional 711 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Neogen by 1.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 40,163 shares of the company’s stock worth $968,000 after acquiring an additional 759 shares in the last quarter. Finally, Sheets Smith Wealth Management raised its stake in shares of Neogen by 2.6% during the 4th quarter. Sheets Smith Wealth Management now owns 30,795 shares of the company’s stock worth $619,000 after acquiring an additional 771 shares in the last quarter. Institutional investors own 96.73% of the company’s stock.

Neogen Stock Performance

The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.66 and a current ratio of 3.82. The stock has a market cap of $2.60 billion, a P/E ratio of 1,202.20 and a beta of 1.13. The firm’s 50 day moving average is $15.75 and its 200 day moving average is $16.65.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings data on Tuesday, April 9th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.02). Neogen had a return on equity of 3.35% and a net margin of 0.17%. The firm had revenue of $228.80 million for the quarter, compared to the consensus estimate of $230.01 million. During the same quarter last year, the firm earned $0.12 EPS. The company’s revenue was up 4.8% compared to the same quarter last year. Analysts anticipate that Neogen Co. will post 0.5 EPS for the current year.

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.