James P. Tobin Buys 10,000 Shares of Neogen Co. (NASDAQ:NEOG) Stock

Neogen Co. (NASDAQ:NEOG - Get Free Report) Director James P. Tobin acquired 10,000 shares of the business's stock in a transaction that occurred on Tuesday, April 22nd. The shares were purchased at an average price of $4.73 per share, with a total value of $47,300.00. Following the completion of the acquisition, the director now owns 37,474 shares of the company's stock, valued at $177,252.02. This represents a 36.40 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Neogen Stock Down 0.8 %

Shares of NASDAQ NEOG traded down $0.04 during mid-day trading on Friday, reaching $5.16. 4,652,279 shares of the company traded hands, compared to its average volume of 2,744,231. The company's fifty day moving average is $8.00 and its two-hundred day moving average is $11.22. Neogen Co. has a fifty-two week low of $3.87 and a fifty-two week high of $18.58. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.46 and a current ratio of 3.77. The stock has a market cap of $1.12 billion, a PE ratio of -2.36 and a beta of 1.57.

Neogen (NASDAQ:NEOG - Get Free Report) last released its quarterly earnings results on Wednesday, April 9th. The company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.12 by ($0.02). The firm had revenue of $221.00 million during the quarter, compared to the consensus estimate of $225.27 million. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The company's revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.12 EPS. On average, analysts expect that Neogen Co. will post 0.38 earnings per share for the current year.

Institutional Investors Weigh In On Neogen

Hedge funds have recently bought and sold shares of the company. Harbour Investments Inc. acquired a new position in shares of Neogen during the 4th quarter worth about $27,000. Versant Capital Management Inc increased its position in Neogen by 1,495.4% in the 1st quarter. Versant Capital Management Inc now owns 3,127 shares of the company's stock worth $27,000 after buying an additional 2,931 shares during the period. Blue Trust Inc. boosted its position in shares of Neogen by 196.7% in the fourth quarter. Blue Trust Inc. now owns 3,368 shares of the company's stock valued at $41,000 after acquiring an additional 2,233 shares during the period. Johnson Financial Group Inc. bought a new stake in shares of Neogen in the fourth quarter valued at approximately $43,000. Finally, Covestor Ltd grew its stake in shares of Neogen by 41.4% in the fourth quarter. Covestor Ltd now owns 4,103 shares of the company's stock worth $50,000 after acquiring an additional 1,202 shares during the last quarter. 96.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on NEOG shares. Piper Sandler cut their price objective on shares of Neogen from $6.40 to $5.00 and set a "neutral" rating on the stock in a research report on Tuesday. Guggenheim reduced their price objective on shares of Neogen from $15.00 to $13.00 and set a "buy" rating for the company in a research note on Thursday, April 10th.

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.