Neogen (NASDAQ:NEOG) Shares Down 5.5% – Time to Sell?

Neogen Co. (NASDAQ:NEOG) fell 5.5% during mid-day trading on Tuesday . The stock traded as low as $11.92 and last traded at $11.95. 147,322 shares were traded during mid-day trading, a decline of 95% from the average session volume of 2,730,861 shares. The stock had previously closed at $12.64.

Analyst Ratings Changes

NEOG has been the topic of a number of analyst reports. Guggenheim initiated coverage on Neogen in a research report on Thursday, December 19th. They issued a “buy” rating and a $15.00 price target on the stock. StockNews.com upgraded shares of Neogen to a “sell” rating in a research note on Monday, September 30th.

Neogen Stock Up 2.1 %

The company has a debt-to-equity ratio of 0.28, a current ratio of 4.41 and a quick ratio of 2.79. The firm’s 50 day moving average price is $13.32 and its two-hundred day moving average price is $14.99. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of -5.30 and a beta of 1.23.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings data on Friday, January 10th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.12. The company had revenue of $231.30 million during the quarter, compared to analysts’ expectations of $227.16 million. Neogen had a positive return on equity of 2.80% and a negative net margin of 2.58%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the firm earned $0.11 EPS. As a group, sell-side analysts forecast that Neogen Co. will post 0.5 earnings per share for the current fiscal year.

Insider Activity at Neogen

In other Neogen news, CEO John Edward Adent bought 23,035 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was acquired at an average cost of $11.03 per share, with a total value of $254,076.05. Following the purchase, the chief executive officer now owns 269,164 shares in the company, valued at approximately $2,968,878.92. This represents a 9.36 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO David H. Naemura bought 14,800 shares of Neogen stock in a transaction on Thursday, January 16th. The stock was acquired at an average cost of $11.11 per share, with a total value of $164,428.00. Following the acquisition, the chief financial officer now owns 61,434 shares of the company’s stock, valued at $682,531.74. This trade represents a 31.74 % increase in their position. The disclosure for this purchase can be found here. 1.13% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Neogen

A number of institutional investors and hedge funds have recently modified their holdings of NEOG. Allspring Global Investments Holdings LLC raised its holdings in Neogen by 142.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company’s stock worth $33,000 after purchasing an additional 1,165 shares during the last quarter. Neo Ivy Capital Management purchased a new position in shares of Neogen in the third quarter valued at $66,000. Marco Investment Management LLC acquired a new position in shares of Neogen during the 3rd quarter worth $169,000. Avanza Fonder AB purchased a new stake in shares of Neogen in the 4th quarter worth about $169,000. Finally, Raymond James Trust N.A. purchased a new stake in shares of Neogen in the 3rd quarter worth about $182,000. Institutional investors and hedge funds own 96.73% of the company’s stock.

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.