Insider Buying: Neogen Co. (NASDAQ:NEOG) CAO Acquires $50,700.00 in Stock

Neogen Co. (NASDAQ:NEOG) CAO John Patrick Moylan bought 10,000 shares of the business’s stock in a transaction on Thursday, April 10th. The stock was purchased at an average cost of $5.07 per share, for a total transaction of $50,700.00. Following the transaction, the chief accounting officer now owns 10,000 shares of the company’s stock, valued at $50,700. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Neogen Stock Performance

Shares of NEOG stock opened at $5.58 on Friday. Neogen Co. has a 1 year low of $3.87 and a 1 year 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 firm has a market cap of $1.21 billion, a price-to-earnings ratio of -2.55 and a beta of 1.57. The stock’s 50-day moving average is $9.08 and its two-hundred day moving average is $11.97.

Neogen (NASDAQ:NEOG) 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). The business had revenue of $221.00 million during the quarter, compared to analysts’ expectations of $225.27 million. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.12 EPS. Analysts predict that Neogen Co. will post 0.38 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Piper Sandler restated a “neutral” rating and issued a $13.00 price objective (down previously from $16.50) on shares of Neogen in a report on Tuesday, January 21st. Guggenheim cut their price objective on Neogen from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Thursday.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Harbour Investments Inc. purchased a new stake in shares of Neogen during the 4th quarter worth $27,000. Versant Capital Management Inc grew its position in Neogen by 1,495.4% during the first 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. grew its position 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 buying an additional 2,233 shares during the period. Johnson Financial Group Inc. purchased a new position in Neogen in the fourth quarter valued at about $43,000. Finally, Neo Ivy Capital Management acquired a new stake in shares of Neogen during the 3rd quarter valued at approximately $66,000. 96.73% of the stock is owned by hedge funds and other institutional investors.

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.