Neogen Co. (NASDAQ:NEOG) CEO John Edward Adent Purchases 23,000 Shares

Neogen Co. (NASDAQ:NEOG) CEO John Edward Adent bought 23,000 shares of Neogen stock in a transaction dated Wednesday, April 10th. The stock was acquired at an average cost of $12.36 per share, for a total transaction of $284,280.00. Following the completion of the transaction, the chief executive officer now directly owns 152,389 shares in the company, valued at $1,883,528.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Neogen Stock Down 4.8 %

Neogen stock traded down $0.63 during mid-day trading on Wednesday, hitting $12.41. The company had a trading volume of 3,112,930 shares, compared to its average volume of 1,993,855. Neogen Co. has a 12 month low of $12.18 and a 12 month high of $24.09. The company has a market capitalization of $2.69 billion, a PE ratio of 203.37 and a beta of 1.13. The stock’s 50 day moving average price is $15.98 and its two-hundred day moving average price is $16.83. The company has a current ratio of 3.54, a quick ratio of 2.63 and a debt-to-equity ratio of 0.28.

Neogen (NASDAQ:NEOG) last announced 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 firm had revenue of $228.80 million during the quarter, compared to the consensus estimate of $230.01 million. Neogen had a return on equity of 3.35% and a net margin of 1.28%. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.12 EPS. As a group, sell-side analysts anticipate that Neogen Co. will post 0.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Neogen

A number of institutional investors have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC bought a new stake in shares of Neogen in the first quarter worth approximately $29,000. O Dell Group LLC bought a new stake in Neogen in the 4th quarter worth approximately $37,000. State of Tennessee Treasury Department purchased a new stake in Neogen during the 1st quarter valued at $45,000. International Assets Investment Management LLC purchased a new stake in Neogen during the 3rd quarter valued at $49,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Neogen by 416.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,033 shares of the company’s stock valued at $56,000 after buying an additional 2,446 shares during the period. Hedge funds and other institutional investors own 96.73% of the company’s stock.

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.