Neogen (NASDAQ:NEOG) Trading 4.4% Higher - What's Next?

Shares of Neogen Co. (NASDAQ:NEOG - Get Free Report) rose 4.4% during mid-day trading on Monday . The company traded as high as $4.77 and last traded at $4.59. Approximately 910,835 shares were traded during trading, a decline of 65% from the average daily volume of 2,635,056 shares. The stock had previously closed at $4.39.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NEOG shares. Piper Sandler cut their price objective on Neogen from $6.40 to $5.00 and set a "neutral" rating on the stock in a report on Tuesday. Guggenheim cut their price target on shares of Neogen from $15.00 to $13.00 and set a "buy" rating on the stock in a report on Thursday, April 10th.

Neogen Stock Performance

The stock has a 50 day simple moving average of $8.11 and a 200 day simple moving average of $11.31. The company has a quick ratio of 2.46, a current ratio of 3.77 and a debt-to-equity ratio of 0.33. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -2.33 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 the consensus estimate of $0.12 by ($0.02). Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The company had revenue of $221.00 million for the quarter, compared to analyst estimates of $225.27 million. During the same period last year, the firm posted $0.12 earnings per share. The business's revenue was down 3.4% on a year-over-year basis. As a group, analysts predict that Neogen Co. will post 0.38 EPS for the current year.

Insider Activity

In other Neogen news, insider Amy M. Rocklin acquired 12,500 shares of the stock in a transaction on Wednesday, April 23rd. The stock was purchased at an average price of $4.99 per share, for a total transaction of $62,375.00. Following the purchase, the insider now directly owns 36,287 shares in the company, valued at $181,072.13. This trade represents a 52.55 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James P. Tobin purchased 10,000 shares of the firm's stock in a transaction dated Tuesday, April 22nd. The shares were bought at an average cost of $4.73 per share, with a total value of $47,300.00. Following the transaction, the director now directly owns 37,474 shares of the company's stock, valued at approximately $177,252.02. This represents a 36.40 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders bought 67,500 shares of company stock worth $331,525. 1.13% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Neogen

Several large investors have recently modified their holdings of the stock. Harbour Investments Inc. bought a new position in Neogen during the 4th quarter worth approximately $27,000. Versant Capital Management Inc raised its position in shares of Neogen by 1,495.4% during the 1st quarter. Versant Capital Management Inc now owns 3,127 shares of the company's stock valued at $27,000 after acquiring an additional 2,931 shares in the last quarter. Blue Trust Inc. lifted its stake in 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 purchasing an additional 2,233 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in Neogen during the fourth quarter valued at $43,000. Finally, Covestor Ltd increased its stake in Neogen by 41.4% during 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 last quarter. Institutional investors own 96.73% of the company's stock.

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.