Neogen Co. (NASDAQ:NEOG) CEO John Edward Adent Acquires 14,500 Shares

Neogen Co. (NASDAQ:NEOG) CEO John Edward Adent acquired 14,500 shares of the company’s stock in a transaction dated Friday, October 11th. The stock was acquired at an average cost of $13.80 per share, with a total value of $200,100.00. Following the transaction, the chief executive officer now directly owns 216,477 shares of the company’s stock, valued at approximately $2,987,382.60. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Neogen Price Performance

Shares of NEOG stock opened at $14.61 on Thursday. The company has a market capitalization of $3.16 billion, a PE ratio of 1,461.00 and a beta of 1.21. The firm has a fifty day simple moving average of $16.10 and a 200-day simple moving average of $15.17. The company has a current ratio of 3.82, a quick ratio of 2.59 and a debt-to-equity ratio of 0.28. Neogen Co. has a twelve month low of $11.46 and a twelve month high of $20.89.

Neogen (NASDAQ:NEOG) last announced its earnings results on Thursday, October 10th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.03). The firm had revenue of $217.00 million during the quarter, compared to analysts’ expectations of $215.05 million. Neogen had a negative net margin of 1.02% and a positive return on equity of 3.09%. Neogen’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.11 earnings per share. Equities research analysts anticipate that Neogen Co. will post 0.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Neogen by 9.3% during the 4th quarter. Vanguard Group Inc. now owns 19,546,737 shares of the company’s stock valued at $393,085,000 after acquiring an additional 1,663,125 shares during the last quarter. Moody National Bank Trust Division bought a new position in Neogen during the 1st quarter valued at $161,000. Bridge City Capital LLC boosted its stake in Neogen by 0.8% during the 1st quarter. Bridge City Capital LLC now owns 177,204 shares of the company’s stock valued at $2,796,000 after acquiring an additional 1,389 shares during the last quarter. Northwest Investment Counselors LLC boosted its stake in Neogen by 1.1% during the 1st quarter. Northwest Investment Counselors LLC now owns 71,621 shares of the company’s stock valued at $1,130,000 after acquiring an additional 809 shares during the last quarter. Finally, Diversified Trust Co boosted its stake in Neogen by 25.6% during the 1st quarter. Diversified Trust Co now owns 47,629 shares of the company’s stock valued at $752,000 after acquiring an additional 9,707 shares during the last quarter. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Neogen to a “sell” rating in a research report on Monday, September 30th. Piper Sandler increased their price objective on shares of Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th.

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.