Neogen Co. (NASDAQ:NEOG) CEO Buys $200,100.00 in Stock

Neogen Co. (NASDAQ:NEOG) CEO John Edward Adent purchased 14,500 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were bought at an average price of $13.80 per share, for a total transaction of $200,100.00. Following the completion of the purchase, the chief executive officer now directly owns 216,477 shares in the company, valued at $2,987,382.60. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Neogen Trading Down 1.0 %

NASDAQ NEOG opened at $14.46 on Friday. The firm’s fifty day moving average is $16.05 and its two-hundred day moving average is $15.16. Neogen Co. has a one year low of $11.46 and a one year high of $20.89. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.59 and a current ratio of 3.82. The firm has a market cap of $3.13 billion, a PE ratio of 1,446.00 and a beta of 1.21.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings results on Thursday, October 10th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.03). Neogen had a negative net margin of 1.02% and a positive return on equity of 3.09%. The company had revenue of $217.00 million during the quarter, compared to analyst estimates of $215.05 million. During the same quarter last year, the firm earned $0.11 EPS. The business’s revenue was down 5.2% on a year-over-year basis. Analysts expect that Neogen Co. will post 0.54 earnings per share for the current year.

Analysts Set New Price Targets

NEOG has been the topic of a number of research analyst reports. Piper Sandler lifted their target price on Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. StockNews.com raised Neogen to a “sell” rating in a research report on Monday, September 30th.

Hedge Funds Weigh In On Neogen

A number of hedge funds and other institutional investors have recently bought and sold shares of NEOG. Inspire Investing LLC lifted its stake in shares of Neogen by 2.7% in the 2nd quarter. Inspire Investing LLC now owns 26,074 shares of the company’s stock worth $408,000 after acquiring an additional 685 shares during the period. Northwest Investment Counselors LLC raised its holdings in Neogen by 1.1% during the first quarter. Northwest Investment Counselors LLC now owns 71,621 shares of the company’s stock worth $1,130,000 after purchasing an additional 809 shares in the last quarter. Bessemer Group Inc. lifted its position in Neogen by 1.2% in the first quarter. Bessemer Group Inc. now owns 73,920 shares of the company’s stock valued at $1,166,000 after purchasing an additional 851 shares during the period. Retirement Systems of Alabama boosted its holdings in Neogen by 0.4% in the 1st quarter. Retirement Systems of Alabama now owns 247,423 shares of the company’s stock valued at $3,904,000 after purchasing an additional 889 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Neogen by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 57,609 shares of the company’s stock worth $900,000 after buying an additional 1,079 shares in the last quarter. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

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.