John Edward Adent Buys 17,500 Shares of Neogen Co. (NASDAQ:NEOG) Stock

Neogen Co. (NASDAQ:NEOGGet Rating) CEO John Edward Adent acquired 17,500 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The shares were bought at an average price of $23.07 per share, for a total transaction of $403,725.00. Following the completion of the purchase, the chief executive officer now owns 58,103 shares of the company’s stock, valued at $1,340,436.21. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Neogen Stock Up 0.3 %

Shares of NASDAQ NEOG opened at $22.18 on Thursday. The firm’s 50-day simple moving average is $23.75 and its 200 day simple moving average is $29.29. Neogen Co. has a fifty-two week low of $21.13 and a fifty-two week high of $47.80. The stock has a market cap of $2.39 billion, a P/E ratio of 49.29 and a beta of 0.58.

Institutional Investors Weigh In On Neogen

Several hedge funds and other institutional investors have recently bought and sold shares of NEOG. Select Equity Group L.P. raised its position in Neogen by 345.0% in the first quarter. Select Equity Group L.P. now owns 4,068,056 shares of the company’s stock worth $125,459,000 after acquiring an additional 3,153,848 shares in the last quarter. Conestoga Capital Advisors LLC raised its position in Neogen by 15.0% in the second quarter. Conestoga Capital Advisors LLC now owns 4,455,883 shares of the company’s stock worth $107,342,000 after acquiring an additional 580,088 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Neogen by 2,768.4% in the second quarter. Assenagon Asset Management S.A. now owns 537,718 shares of the company’s stock worth $12,954,000 after acquiring an additional 518,972 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Neogen by 80.6% in the first quarter. Goldman Sachs Group Inc. now owns 924,889 shares of the company’s stock worth $28,524,000 after acquiring an additional 412,644 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in Neogen in the fourth quarter worth about $12,264,000. 92.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Piper Sandler lifted their price objective on shares of Neogen from $25.00 to $26.00 and gave the company a “maintains” rating in a research note on Monday.

Neogen Company Profile

(Get Rating)

Neogen Corporation, together with its subsidiaries, develops, manufactures, and markets various products for 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 for adenosine triphosphate, a chemical found in living cells.

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