Neogen (NASDAQ:NEOG) Stock Price Up 4.5%

Neogen Co. (NASDAQ:NEOGGet Free Report) shares traded up 4.5% during mid-day trading on Tuesday . The stock traded as high as $14.40 and last traded at $14.34. 240,231 shares were traded during mid-day trading, a decline of 89% from the average session volume of 2,092,833 shares. The stock had previously closed at $13.72.

Wall Street Analyst Weigh In

Separately, Piper Sandler dropped their price target on shares of Neogen from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, April 15th.

Get Our Latest Research Report on NEOG

Neogen Stock Performance

The company has a quick ratio of 2.66, a current ratio of 3.82 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $3.24 billion, a P/E ratio of 1,471.47 and a beta of 1.19. The business has a fifty day moving average price of $13.12 and a 200-day moving average price of $15.90.

Neogen (NASDAQ:NEOGGet Free Report) last posted its earnings results on Tuesday, April 9th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.02). Neogen had a net margin of 0.17% and a return on equity of 3.35%. The company had revenue of $228.80 million for the quarter, compared to the consensus estimate of $230.01 million. During the same quarter in the prior year, the company posted $0.12 EPS. Neogen’s revenue was up 4.8% on a year-over-year basis. On average, sell-side analysts expect that Neogen Co. will post 0.46 EPS for the current year.

Insiders Place Their Bets

In other news, COO Douglas Edward Jones purchased 10,000 shares of the stock in a transaction dated Wednesday, April 17th. The shares were purchased at an average cost of $12.36 per share, with a total value of $123,600.00. Following the acquisition, the chief operating officer now directly owns 46,131 shares of the company’s stock, valued at $570,179.16. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, COO Douglas Edward Jones purchased 10,000 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was acquired at an average cost of $12.36 per share, for a total transaction of $123,600.00. Following the purchase, the chief operating officer now directly owns 46,131 shares in the company, valued at approximately $570,179.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James C. Borel purchased 7,500 shares of Neogen stock in a transaction dated Thursday, April 11th. The shares were acquired at an average cost of $13.06 per share, with a total value of $97,950.00. Following the transaction, the director now directly owns 21,392 shares in the company, valued at $279,379.52. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 53,000 shares of company stock valued at $662,205. Company insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Mackenzie Financial Corp grew its stake 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 acquiring an additional 497,856 shares during the period. FMR LLC lifted 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 valued at $35,518,000 after buying an additional 16,414 shares in the last quarter. Simmons Bank increased its stake in Neogen by 24.6% in the 4th quarter. Simmons Bank now owns 24,590 shares of the company’s stock worth $495,000 after buying an additional 4,850 shares in the last quarter. Connable Office Inc. bought a new stake in Neogen during the fourth quarter valued at about $202,000. Finally, Pacer Advisors Inc. lifted its position in shares of Neogen by 77.3% in the fourth quarter. Pacer Advisors Inc. now owns 29,849 shares of the company’s stock valued at $600,000 after acquiring an additional 13,013 shares in the last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Neogen Company Profile

(Get Free Report)

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.

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