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

Neogen Co. (NASDAQ:NEOG) CAO John Patrick Moylan bought 10,000 shares of the firm’s stock in a transaction dated Thursday, April 10th. The shares were acquired at an average price of $5.07 per share, for a total transaction of $50,700.00. Following the completion of the transaction, the chief accounting officer now owns 10,000 shares in the company, valued at $50,700. This represents a ? increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Neogen Price Performance

Shares of NEOG traded up $0.67 during mid-day trading on Thursday, hitting $5.69. 9,199,255 shares of the company traded hands, compared to its average volume of 2,525,757. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of -2.56 and a beta of 1.57. The company has a current ratio of 3.77, a quick ratio of 2.46 and a debt-to-equity ratio of 0.33. The business has a 50-day moving average of $9.29 and a 200 day moving average of $12.12. Neogen Co. has a one year low of $3.87 and a one year high of $18.58.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings data on Wednesday, April 9th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.02). The firm had revenue of $221.00 million for the quarter, compared to the consensus estimate of $225.27 million. Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The business’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 firm posted $0.12 earnings per share. As a group, equities analysts expect that Neogen Co. will post 0.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NEOG. Guggenheim reduced their target price on shares of Neogen from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday. Piper Sandler reiterated a “neutral” rating and issued a $13.00 target price (down previously from $16.50) on shares of Neogen in a research note on Tuesday, January 21st.

Institutional Trading of Neogen

Large investors have recently made changes to their positions in the company. Harbour Investments Inc. bought a new stake in shares of Neogen in the fourth quarter worth about $27,000. Versant Capital Management Inc lifted its stake in Neogen by 1,495.4% in the first quarter. Versant Capital Management Inc now owns 3,127 shares of the company’s stock valued at $27,000 after buying an additional 2,931 shares in the last quarter. Blue Trust Inc. boosted its holdings 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 buying an additional 2,233 shares during the period. Johnson Financial Group Inc. bought a new stake in shares of Neogen during the fourth quarter worth $43,000. Finally, Covestor Ltd raised its holdings in shares of Neogen by 41.4% during 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 period. Institutional investors own 96.73% of the company’s stock.

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.