Neogen Co. (NASDAQ:NEOG - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $8.60 and last traded at $8.98, with a volume of 36396580 shares. The stock had previously closed at $8.97.
Analysts Set New Price Targets
Several research analysts have recently issued reports on the company. Guggenheim began 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. Piper Sandler reaffirmed a "neutral" rating and issued a $13.00 price target (down from $16.50) on shares of Neogen in a report on Tuesday, January 21st.
Check Out Our Latest Analysis on Neogen
Neogen Stock Down 3.2 %
The firm's 50 day simple moving average is $10.20 and its 200-day simple moving average is $12.80. The company has a market cap of $1.88 billion, a price-to-earnings ratio of -3.96 and a beta of 1.27. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.77 and a quick ratio of 2.46.
Neogen (NASDAQ:NEOG - Get Free Report) last announced its earnings results on Friday, January 10th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.01) by $0.12. The firm had revenue of $231.30 million during the quarter, compared to analysts' expectations of $227.16 million. Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The business's revenue was up .7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.11 EPS. As a group, sell-side analysts anticipate that Neogen Co. will post 0.38 earnings per share for the current year.
Insider Transactions at Neogen
In related news, CEO John Edward Adent purchased 23,035 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were purchased at an average price of $11.03 per share, with a total value of $254,076.05. Following the completion of the acquisition, the chief executive officer now directly owns 269,164 shares in the company, valued at $2,968,878.92. This represents a 9.36 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO David H. Naemura purchased 14,800 shares of the company's stock in a transaction that occurred on Thursday, January 16th. The stock was bought at an average price of $11.11 per share, for a total transaction of $164,428.00. Following the transaction, the chief financial officer now directly owns 61,434 shares in the company, valued at $682,531.74. This trade represents a 31.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.13% of the company's stock.
Institutional Investors Weigh In On Neogen
Several hedge funds have recently modified their holdings of NEOG. Harbour Investments Inc. purchased a new position in Neogen during the 4th quarter worth $27,000. Blue Trust Inc. increased its stake in shares of Neogen by 196.7% during the fourth quarter. Blue Trust Inc. now owns 3,368 shares of the company's stock worth $41,000 after acquiring an additional 2,233 shares during the period. Johnson Financial Group Inc. purchased a new position in Neogen during the fourth quarter worth about $43,000. Covestor Ltd lifted its position in Neogen by 41.4% in the fourth quarter. Covestor Ltd now owns 4,103 shares of the company's stock valued at $50,000 after purchasing an additional 1,202 shares during the period. Finally, Neo Ivy Capital Management purchased a new stake in Neogen in the 3rd quarter valued at approximately $66,000. 96.73% of the stock is owned by institutional investors and hedge funds.
Neogen Company Profile
(
Get Free Report)
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.
Further Reading
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