Neogen Co. (NASDAQ:NEOG) CEO Acquires $254,076.05 in Stock

Neogen Co. (NASDAQ:NEOG) CEO John Edward Adent bought 23,035 shares of Neogen stock in a transaction that occurred on Thursday, January 16th. The shares were acquired at an average price of $11.03 per share, for a total transaction of $254,076.05. Following the acquisition, the chief executive officer now directly owns 269,164 shares in the company, valued at approximately $2,968,878.92. This represents a 9.36 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Neogen Price Performance

NEOG opened at $11.56 on Friday. The company has a current ratio of 4.41, a quick ratio of 2.79 and a debt-to-equity ratio of 0.28. The company has a fifty day simple moving average of $13.14 and a 200 day simple moving average of $14.94. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of -5.28 and a beta of 1.23. Neogen Co. has a twelve month low of $10.72 and a twelve month high of $18.58.

Neogen (NASDAQ:NEOG) last released its quarterly earnings results on Friday, January 10th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.12. The business had revenue of $231.30 million for 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 company’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.11 earnings per share. Equities research analysts expect that Neogen Co. will post 0.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NEOG has been the subject of several analyst reports. Guggenheim assumed coverage on Neogen in a research report on Thursday, December 19th. They issued a “buy” rating and a $15.00 target price for the company. StockNews.com raised Neogen to a “sell” rating in a research report on Monday, September 30th.

Hedge Funds Weigh In On Neogen

Institutional investors have recently made changes to their positions in the business. Select Equity Group L.P. increased its stake in shares of Neogen by 23.1% in the second quarter. Select Equity Group L.P. now owns 15,530,439 shares of the company’s stock worth $242,741,000 after buying an additional 2,914,893 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Neogen by 148.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,109,180 shares of the company’s stock worth $64,229,000 after acquiring an additional 2,454,566 shares in the last quarter. Shapiro Capital Management LLC bought a new stake in shares of Neogen in the 2nd quarter worth about $31,087,000. Fred Alger Management LLC raised its stake in shares of Neogen by 86.5% in the 3rd quarter. Fred Alger Management LLC now owns 3,986,744 shares of the company’s stock valued at $67,017,000 after purchasing an additional 1,849,427 shares in the last quarter. Finally, Conestoga Capital Advisors LLC lifted its position in shares of Neogen by 24.5% during the third quarter. Conestoga Capital Advisors LLC now owns 8,706,224 shares of the company’s stock worth $146,352,000 after purchasing an additional 1,711,238 shares during the last quarter. 96.73% of the stock is owned by institutional investors and hedge funds.

Neogen Company Profile

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.