Neogen (NASDAQ:NEOG) Shares Up 4.5% – Should You Buy?

Neogen Co. (NASDAQ:NEOG) shot up 4.5% during mid-day trading on Thursday . The company traded as high as $12.16 and last traded at $12.16. 395,725 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 1,906,530 shares. The stock had previously closed at $11.64.

Analyst Upgrades and Downgrades

NEOG has been the topic of a number of research analyst reports. Guggenheim assumed coverage on shares of Neogen in a research report on Thursday. 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.

Neogen Trading Up 4.8 %

The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of -110.91 and a beta of 1.21. The company has a fifty day moving average price of $14.12 and a 200-day moving average price of $15.55. The company has a current ratio of 4.41, a quick ratio of 2.79 and a debt-to-equity ratio of 0.28.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings results on Thursday, October 10th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.03). The business had revenue of $217.00 million for the quarter, compared to analyst estimates of $215.05 million. Neogen had a positive return on equity of 2.80% and a negative net margin of 2.58%. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.11 EPS. On average, equities research analysts predict that Neogen Co. will post 0.5 EPS for the current year.

Insider Buying and Selling at Neogen

In other news, CEO John Edward Adent bought 14,500 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were acquired at an average cost of $13.80 per share, for a total transaction of $200,100.00. Following the purchase, the chief executive officer now owns 216,477 shares of the company’s stock, valued at $2,987,382.60. This represents a 7.18 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.13% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NEOG. William Blair Investment Management LLC grew its position in Neogen by 64.7% during the second quarter. William Blair Investment Management LLC now owns 12,013,072 shares of the company’s stock worth $187,764,000 after buying an additional 4,717,696 shares in the last quarter. Select Equity Group L.P. increased its position in shares of Neogen by 23.1% during the second quarter. Select Equity Group L.P. now owns 15,530,439 shares of the company’s stock valued at $242,741,000 after purchasing an additional 2,914,893 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Neogen by 148.3% in the second quarter. Dimensional Fund Advisors LP now owns 4,109,180 shares of the company’s stock valued at $64,229,000 after purchasing an additional 2,454,566 shares in the last quarter. Shapiro Capital Management LLC bought a new position in Neogen in the second quarter worth $31,087,000. Finally, Fred Alger Management LLC boosted its stake in Neogen by 86.5% during the third quarter. Fred Alger Management LLC now owns 3,986,744 shares of the company’s stock worth $67,017,000 after buying an additional 1,849,427 shares in the last quarter. 96.73% of the stock is owned by 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.