Insider Buying: Neogen Co. (NASDAQ:NEOG) CEO Acquires 23,035 Shares of Stock

Neogen Co. (NASDAQ:NEOG) CEO John Edward Adent acquired 23,035 shares of the firm’s stock in a transaction dated 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 transaction, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Neogen Stock Down 0.3 %

Neogen stock opened at $11.56 on Friday. The company has a market capitalization of $2.51 billion, a PE ratio of -5.28 and a beta of 1.23. Neogen Co. has a 12-month low of $10.72 and a 12-month high of $18.58. The firm’s fifty day moving average is $13.14 and its 200 day moving average is $14.95. The company has a quick ratio of 2.79, a current ratio of 4.41 and a debt-to-equity ratio of 0.28.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings data on Friday, January 10th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.12. The firm had revenue of $231.30 million for the quarter, compared to analyst estimates of $227.16 million. Neogen had a negative net margin of 2.58% and a positive return on equity of 2.80%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 earnings per share. As a group, sell-side analysts predict that Neogen Co. will post 0.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on NEOG shares. StockNews.com upgraded Neogen to a “sell” rating in a report on Monday, September 30th. Guggenheim initiated coverage on Neogen in a research note on Thursday, December 19th. They set a “buy” rating and a $15.00 target price for the company.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its position in shares of Neogen by 3.4% during the second quarter. Commonwealth Equity Services LLC now owns 36,630 shares of the company’s stock worth $573,000 after purchasing an additional 1,190 shares during the period. Oppenheimer Asset Management Inc. increased its stake in Neogen by 39.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 103,611 shares of the company’s stock valued at $1,619,000 after purchasing an additional 29,489 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Neogen by 27.0% during the second quarter. Envestnet Asset Management Inc. now owns 418,839 shares of the company’s stock worth $6,546,000 after buying an additional 89,034 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Neogen by 148.3% in the second quarter. Dimensional Fund Advisors LP now owns 4,109,180 shares of the company’s stock valued at $64,229,000 after buying an additional 2,454,566 shares in the last quarter. Finally, Argent Trust Co acquired a new position in shares of Neogen during the second quarter valued at about $403,000. 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.