Neogen Co. (NASDAQ:NEOG) CEO Purchases $200,100.00 in Stock

Neogen Co. (NASDAQ:NEOG - Get Free Report) CEO John Edward Adent acquired 14,500 shares of Neogen stock in a transaction that occurred on Friday, October 11th. The shares were purchased at an average cost of $13.80 per share, with a total value of $200,100.00. Following the transaction, the chief executive officer now owns 216,477 shares of the company's stock, valued at approximately $2,987,382.60. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Neogen Stock Performance

Shares of Neogen stock traded up $0.71 during trading on Tuesday, reaching $14.73. The company's stock had a trading volume of 1,815,512 shares, compared to its average volume of 1,968,500. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.59 and a current ratio of 3.82. The business's fifty day moving average price is $16.14 and its 200-day moving average price is $15.17. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 1,473.00 and a beta of 1.21. Neogen Co. has a one year low of $11.46 and a one year high of $20.89.

Neogen (NASDAQ:NEOG - Get Free Report) last posted its quarterly earnings data on Thursday, October 10th. The company reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.03). The business had revenue of $217.00 million during the quarter, compared to the consensus estimate of $215.05 million. Neogen had a positive return on equity of 3.09% and a negative net margin of 1.02%. The company's revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.11 earnings per share. As a group, equities research analysts predict that Neogen Co. will post 0.54 earnings per share for the current year.

Hedge Funds Weigh In On Neogen

A number of institutional investors have recently made changes to their positions in the business. William Blair Investment Management LLC increased its stake in Neogen by 64.7% during the second quarter. William Blair Investment Management LLC now owns 12,013,072 shares of the company's stock valued at $187,764,000 after acquiring an additional 4,717,696 shares during the period. Baillie Gifford & Co. increased its stake in Neogen by 42.3% during the first quarter. Baillie Gifford & Co. now owns 11,789,521 shares of the company's stock valued at $186,039,000 after acquiring an additional 3,502,807 shares during the period. Select Equity Group L.P. increased its stake in Neogen by 23.1% during the second quarter. Select Equity Group L.P. now owns 15,530,439 shares of the company's stock valued at $242,741,000 after acquiring an additional 2,914,893 shares during the period. Dimensional Fund Advisors LP increased its stake in Neogen by 148.3% during the second quarter. Dimensional Fund Advisors LP now owns 4,109,180 shares of the company's stock valued at $64,229,000 after acquiring an additional 2,454,566 shares during the period. Finally, Shapiro Capital Management LLC bought a new position in Neogen during the second quarter valued at about $31,087,000. 96.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. StockNews.com raised Neogen to a "sell" rating in a research report on Monday, September 30th. Piper Sandler boosted their price target on Neogen from $17.00 to $17.50 and gave the stock a "neutral" rating in a research report on Tuesday, August 6th.

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.