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

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

Neogen Trading Down 1.7 %

Neogen stock opened at $11.93 on Friday. The company has a 50 day moving average price of $15.52 and a 200 day moving average price of $16.54. Neogen Co. has a 52 week low of $11.74 and a 52 week high of $24.09. 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 firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 1,194.19 and a beta of 1.13.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings data on Tuesday, April 9th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $230.01 million. During the same period in the prior year, the business posted $0.12 EPS. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. Research analysts forecast that Neogen Co. will post 0.5 EPS for the current year.

Hedge Funds Weigh In On Neogen

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Trust N.A. lifted its position in Neogen by 6.7% in the 1st quarter. Raymond James Trust N.A. now owns 6,981 shares of the company’s stock worth $215,000 after buying an additional 441 shares in the last quarter. United Services Automobile Association lifted its position in Neogen by 4.5% in the 2nd quarter. United Services Automobile Association now owns 13,988 shares of the company’s stock worth $304,000 after buying an additional 608 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Neogen by 5.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 12,900 shares of the company’s stock worth $259,000 after buying an additional 711 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Neogen by 1.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 40,163 shares of the company’s stock worth $968,000 after buying an additional 759 shares in the last quarter. Finally, Sheets Smith Wealth Management lifted its position in Neogen by 2.6% in the 4th quarter. Sheets Smith Wealth Management now owns 30,795 shares of the company’s stock worth $619,000 after buying an additional 771 shares in the last quarter. Institutional investors and hedge funds own 96.73% of the company’s stock.

Analyst Upgrades and Downgrades

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