Neogen (NASDAQ:NEOG) Hits New 12-Month Low - Should You Sell?

Neogen Co. (NASDAQ:NEOG - Get Free Report) shares reached a new 52-week low during trading on Monday . The company traded as low as $9.61 and last traded at $9.57, with a volume of 967976 shares trading hands. The stock had previously closed at $10.05.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Guggenheim started coverage on Neogen in a research note on Thursday, December 19th. They set a "buy" rating and a $15.00 price target for the company. Piper Sandler reiterated a "neutral" rating and set a $13.00 target price (down from $16.50) on shares of Neogen in a research report on Tuesday, January 21st.

Neogen Trading Up 4.2 %

The stock's 50-day moving average price is $11.13 and its 200 day moving average price is $13.57. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.77 and a quick ratio of 2.46. The firm has a market capitalization of $2.26 billion, a PE ratio of -4.75 and a beta of 1.27.

Neogen (NASDAQ:NEOG - Get Free Report) last released its quarterly earnings data on Friday, January 10th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.12. Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The company had revenue of $231.30 million for the quarter, compared to the consensus estimate of $227.16 million. During the same period last year, the business posted $0.11 EPS. Neogen's quarterly revenue was up .7% on a year-over-year basis. On average, sell-side analysts expect that Neogen Co. will post 0.38 EPS for the current fiscal year.

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Insider Activity at Neogen

In other Neogen news, CFO David H. Naemura acquired 14,800 shares of the business's stock in a transaction that occurred on Thursday, January 16th. The shares were bought at an average cost of $11.11 per share, with a total value of $164,428.00. Following the completion of the acquisition, the chief financial officer now directly owns 61,434 shares in the company, valued at $682,531.74. This represents a 31.74 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Edward Adent bought 23,035 shares of the stock in a transaction on Thursday, January 16th. The shares were bought at an average price of $11.03 per share, with a total value of $254,076.05. Following the acquisition, the chief executive officer now owns 269,164 shares of the company's stock, valued at $2,968,878.92. This trade represents a 9.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.13% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NEOG. Ascent Group LLC raised its holdings in Neogen by 17.8% in the fourth quarter. Ascent Group LLC now owns 14,340 shares of the company's stock worth $174,000 after purchasing an additional 2,165 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Neogen by 5.7% during the 4th quarter. Mackenzie Financial Corp now owns 7,826,349 shares of the company's stock worth $95,012,000 after acquiring an additional 423,923 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Neogen by 8.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 549,639 shares of the company's stock worth $6,673,000 after acquiring an additional 43,621 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in Neogen during the fourth quarter valued at approximately $840,000. Finally, State of Wyoming boosted its stake in Neogen by 6.3% in the fourth quarter. State of Wyoming now owns 47,775 shares of the company's stock valued at $580,000 after acquiring an additional 2,846 shares in the last quarter. 96.73% of the stock is owned by institutional investors.

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.