Insider Buying: Neogen Co. (NASDAQ:NEOG) CFO Purchases 14,800 Shares of Stock

Neogen Co. (NASDAQ:NEOG) CFO David H. Naemura acquired 14,800 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were bought at an average price of $11.11 per share, for a total transaction of $164,428.00. Following the acquisition, the chief financial officer now owns 61,434 shares in the company, valued at approximately $682,531.74. This trade represents a 31.74 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Neogen Price Performance

Shares of NASDAQ NEOG traded up $0.24 during midday trading on Thursday, reaching $11.60. 6,277,453 shares of the company traded hands, compared to its average volume of 3,533,160. The stock’s 50-day simple moving average is $13.32 and its 200-day simple moving average is $14.99. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.79 and a current ratio of 4.41. Neogen Co. has a 12 month low of $10.72 and a 12 month high of $18.58. The firm has a market cap of $2.51 billion, a PE ratio of -5.30 and a beta of 1.23.

Neogen (NASDAQ:NEOG) last announced its earnings results on Friday, January 10th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.12. Neogen had a positive return on equity of 2.80% and a negative net margin of 2.58%. The business had revenue of $231.30 million for the quarter, compared to the consensus estimate of $227.16 million. During the same period in the previous year, the business earned $0.11 EPS. Neogen’s revenue was up .7% compared to the same quarter last year. As a group, equities analysts anticipate that Neogen Co. will post 0.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NEOG. Inspire Investing LLC raised its stake in shares of Neogen by 2.7% in the second 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 last quarter. Stephens Inc. AR boosted its stake in Neogen by 2.6% in the third quarter. Stephens Inc. AR now owns 35,930 shares of the company’s stock valued at $604,000 after acquiring an additional 909 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Neogen by 142.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company’s stock worth $33,000 after acquiring an additional 1,165 shares during the period. Commonwealth Equity Services LLC lifted its stake in Neogen by 3.4% in the second quarter. Commonwealth Equity Services LLC now owns 36,630 shares of the company’s stock valued at $573,000 after buying an additional 1,190 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in Neogen by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 22,810 shares of the company’s stock worth $383,000 after acquiring an additional 1,550 shares during the last quarter. Institutional investors and hedge funds own 96.73% of the company’s stock.

Analysts Set New Price Targets

NEOG has been the topic of several recent research reports. Guggenheim started coverage on Neogen in a report on Thursday, December 19th. They set a “buy” rating and a $15.00 price objective on the stock. StockNews.com raised shares of Neogen to a “sell” rating in a research note on Monday, September 30th.

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.