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

Neogen Co. (NASDAQ:NEOG) COO Douglas Edward Jones bought 10,000 shares of Neogen stock in a transaction on Wednesday, April 17th. The shares were purchased at an average cost of $12.36 per share, for a total transaction of $123,600.00. Following the acquisition, the chief operating officer now owns 46,131 shares in the company, valued at $570,179.16. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.

Neogen Stock Performance

Shares of Neogen stock traded up $0.11 on Wednesday, reaching $12.27. 2,302,177 shares of the company were exchanged, compared to its average volume of 2,113,331. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.66 and a current ratio of 3.82. The company’s 50-day moving average is $15.68 and its two-hundred day moving average is $16.61. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of 1,218.00 and a beta of 1.13. Neogen Co. has a 1-year low of $11.74 and a 1-year high of $24.09.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings results on Tuesday, April 9th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). Neogen had a return on equity of 3.35% and a net margin of 0.17%. The company had revenue of $228.80 million for the quarter, compared to analyst estimates of $230.01 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, research analysts expect that Neogen Co. will post 0.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Piper Sandler reduced their target price on Neogen from $19.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday.

Institutional Trading of Neogen

Several large investors have recently added to or reduced their stakes in NEOG. Mackenzie Financial Corp increased its position in shares of Neogen by 9.3% during the 4th quarter. Mackenzie Financial Corp now owns 5,868,784 shares of the company’s stock valued at $118,021,000 after purchasing an additional 497,856 shares during the period. FMR LLC boosted its stake in shares of Neogen by 0.9% during the 3rd quarter. FMR LLC now owns 1,915,751 shares of the company’s stock worth $35,518,000 after acquiring an additional 16,414 shares in the last quarter. Inspire Investing LLC boosted its stake in shares of Neogen by 99.3% during the 3rd quarter. Inspire Investing LLC now owns 33,979 shares of the company’s stock worth $630,000 after acquiring an additional 16,930 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Neogen by 77.3% during the 4th quarter. Pacer Advisors Inc. now owns 29,849 shares of the company’s stock worth $600,000 after acquiring an additional 13,013 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of Neogen by 194.2% during the 4th quarter. Fifth Third Bancorp now owns 29,326 shares of the company’s stock worth $590,000 after acquiring an additional 19,359 shares in the last quarter. 96.73% of the stock is currently owned by institutional investors and hedge funds.

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.