Neogen Co. (NASDAQ:NEOG) CFO Buys $164,428.00 in Stock

Neogen Co. (NASDAQ:NEOG - Get Free Report) CFO David H. Naemura acquired 14,800 shares of Neogen stock in a transaction that occurred on Thursday, January 16th. The shares were purchased at an average price of $11.11 per share, for a total transaction of $164,428.00. Following the completion of the purchase, the chief financial officer now directly owns 61,434 shares of the company's stock, valued at $682,531.74. The trade was a 31.74 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Neogen Trading Up 2.1 %

Shares of NEOG stock traded up $0.24 during trading hours on Thursday, reaching $11.60. 6,277,453 shares of the stock traded hands, compared to its average volume of 3,533,160. Neogen Co. has a 1-year low of $10.72 and a 1-year high of $18.58. The company has a quick ratio of 2.79, a current ratio of 4.41 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $2.51 billion, a PE ratio of -5.30 and a beta of 1.23. The business has a fifty day moving average price of $13.32 and a 200 day moving average price of $14.99.

Neogen (NASDAQ:NEOG - Get Free Report) last posted 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 during the quarter, compared to analysts' expectations of $227.16 million. Neogen had a negative net margin of 2.58% and a positive return on equity of 2.80%. The firm's quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the company posted $0.11 earnings per share. On average, equities research analysts forecast that Neogen Co. will post 0.5 EPS for the current year.

Institutional Trading of Neogen

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC grew 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 valued at $33,000 after purchasing an additional 1,165 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of Neogen during the 3rd quarter worth $66,000. Marco Investment Management LLC acquired a new position in Neogen in the 3rd quarter valued at $169,000. Avanza Fonder AB bought a new position in Neogen in the 4th quarter worth $169,000. Finally, Raymond James Trust N.A. acquired a new position in Neogen during the 3rd quarter worth $182,000. Institutional investors and hedge funds own 96.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NEOG. StockNews.com raised shares of Neogen to a "sell" rating in a research report on Monday, September 30th. Guggenheim initiated coverage on Neogen in a research report on Thursday, December 19th. They set a "buy" rating and a $15.00 price objective for the company.

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.

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