Neogen Co. (NASDAQ:NEOG) COO Douglas Edward Jones Buys 10,000 Shares

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

Neogen Trading Up 0.9 %

Shares of NEOG traded up $0.11 during midday trading on Wednesday, reaching $12.27. The company had a trading volume of 2,302,177 shares, compared to its average volume of 2,113,331. Neogen Co. has a 1-year low of $11.74 and a 1-year high of $24.09. The stock has a market cap of $2.66 billion, a PE ratio of 1,218.00 and a beta of 1.13. The firm has a 50 day simple moving average of $15.68 and a 200-day simple moving average of $16.61. The company has a quick ratio of 2.66, a current ratio of 3.82 and a debt-to-equity ratio of 0.28.

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

Institutional Trading of Neogen

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Fairfield Bush & CO. boosted its holdings in Neogen by 3.5% during the 1st quarter. Fairfield Bush & CO. now owns 75,222 shares of the company’s stock valued at $2,320,000 after acquiring an additional 2,572 shares during the period. Raymond James & Associates boosted its holdings in Neogen by 3.3% during the 1st quarter. Raymond James & Associates now owns 124,917 shares of the company’s stock valued at $3,852,000 after acquiring an additional 3,974 shares during the period. HighTower Advisors LLC boosted its holdings in Neogen by 3.6% during the 1st quarter. HighTower Advisors LLC now owns 44,465 shares of the company’s stock valued at $1,373,000 after acquiring an additional 1,540 shares during the period. Panagora Asset Management Inc. boosted its holdings in Neogen by 29.3% during the 1st quarter. Panagora Asset Management Inc. now owns 20,573 shares of the company’s stock valued at $634,000 after acquiring an additional 4,661 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Neogen by 2.3% during the 1st quarter. Rhumbline Advisers now owns 305,783 shares of the company’s stock valued at $9,430,000 after acquiring an additional 6,931 shares during the period. 96.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reduced their price objective on Neogen from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday.

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.