Neogen Co. (NASDAQ:NEOG) COO Buys $123,600.00 in Stock

Neogen Co. (NASDAQ:NEOG) COO Douglas Edward Jones acquired 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were bought at an average cost of $12.36 per share, with a total value of $123,600.00. Following the completion of the purchase, the chief operating officer now owns 46,131 shares of the company’s stock, valued at $570,179.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Neogen Stock Down 2.7 %

Shares of Neogen stock opened at $11.61 on Friday. The company has a quick ratio of 2.66, a current ratio of 3.82 and a debt-to-equity ratio of 0.28. Neogen Co. has a 12 month low of $11.51 and a 12 month high of $24.09. The business has a fifty day simple moving average of $15.42 and a 200 day simple moving average of $16.50. The stock has a market cap of $2.51 billion, a PE ratio of 1,162.16 and a beta of 1.13.

Neogen (NASDAQ:NEOG) last posted its 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). Neogen had a net margin of 0.17% and a return on equity of 3.35%. The business had revenue of $228.80 million during the quarter, compared to analyst estimates of $230.01 million. During the same period in the previous year, the firm posted $0.12 earnings per share. The firm’s revenue was up 4.8% on a year-over-year basis. Research analysts predict that Neogen Co. will post 0.5 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler decreased their price objective on Neogen from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, April 15th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEOG. Steward Partners Investment Advisory LLC acquired a new position in Neogen in the first quarter valued at about $29,000. O Dell Group LLC acquired a new position in Neogen in the fourth quarter valued at about $37,000. State of Tennessee Treasury Department bought a new stake in shares of Neogen in the first quarter valued at about $45,000. International Assets Investment Management LLC bought a new stake in shares of Neogen in the third quarter valued at about $49,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Neogen by 416.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,033 shares of the company’s stock valued at $56,000 after purchasing an additional 2,446 shares in the last quarter. 96.73% of the stock is owned by institutional investors and hedge funds.

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.