Neogen (NASDAQ:NEOG) PT Lowered to $17.00 at Piper Sandler

Neogen (NASDAQ:NEOG) had its price target reduced by Piper Sandler from $19.00 to $17.00 in a report issued on Monday morning, Benzinga reports. They currently have a neutral rating on the stock.

Neogen Stock Performance

NEOG opened at $12.14 on Monday. The business’s 50 day moving average is $15.61 and its 200-day moving average is $16.58. The stock has a market cap of $2.63 billion, a PE ratio of 1,214.00 and a beta of 1.13. The company has a current ratio of 3.82, a quick ratio of 2.66 and a debt-to-equity ratio of 0.28. Neogen has a twelve month low of $11.74 and a twelve month high of $24.09.

Neogen (NASDAQ:NEOG) last announced its earnings results on Tuesday, April 9th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.02). Neogen had a return on equity of 3.35% and a net margin of 0.17%. The firm had revenue of $228.80 million for the quarter, compared to the consensus estimate of $230.01 million. During the same period in the previous year, the firm earned $0.12 EPS. Neogen’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, analysts predict that Neogen will post 0.5 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO John Edward Adent bought 23,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The shares were purchased at an average price of $12.36 per share, with a total value of $284,280.00. Following the completion of the acquisition, the chief executive officer now directly owns 152,389 shares in the company, valued at $1,883,528.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Douglas Edward Jones purchased 10,000 shares of the company’s stock in a transaction on Wednesday, April 17th. The shares were bought at an average price of $12.36 per share, with a total value of $123,600.00. Following the completion of the acquisition, the chief operating officer now owns 46,131 shares of the company’s stock, valued at $570,179.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John Edward Adent purchased 23,000 shares of the company’s stock in a transaction on Wednesday, April 10th. The stock was bought at an average cost of $12.36 per share, for a total transaction of $284,280.00. Following the acquisition, the chief executive officer now directly owns 152,389 shares of the company’s stock, valued at approximately $1,883,528.04. The disclosure for this purchase can be found here. Insiders have bought a total of 53,000 shares of company stock valued at $662,205 over the last quarter. Corporate insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Raymond James Trust N.A. increased its holdings in shares of Neogen by 6.7% in the first quarter. Raymond James Trust N.A. now owns 6,981 shares of the company’s stock valued at $215,000 after buying an additional 441 shares in the last quarter. United Services Automobile Association grew its position in Neogen by 4.5% during the 2nd quarter. United Services Automobile Association now owns 13,988 shares of the company’s stock worth $304,000 after purchasing an additional 608 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Neogen by 5.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 12,900 shares of the company’s stock worth $259,000 after purchasing an additional 711 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Neogen by 1.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 40,163 shares of the company’s stock worth $968,000 after purchasing an additional 759 shares in the last quarter. Finally, Sheets Smith Wealth Management grew its position in Neogen by 2.6% during the 4th quarter. Sheets Smith Wealth Management now owns 30,795 shares of the company’s stock worth $619,000 after purchasing an additional 771 shares in the last quarter. Institutional investors 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.