Neogen (NASDAQ:NEOG) PT Lowered to $17.00

Neogen (NASDAQ:NEOG) had its price objective decreased by analysts at Piper Sandler from $19.00 to $17.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 39.80% from the company’s current price.

Neogen Trading Up 1.2 %

Shares of NEOG stock opened at $12.16 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.66 and a current ratio of 3.82. The stock has a fifty day simple moving average of $15.68 and a two-hundred day simple moving average of $16.61. The firm has a market capitalization of $2.63 billion, a PE ratio of 1,217.22 and a beta of 1.13. Neogen has a 52-week low of $11.74 and a 52-week high of $24.09.

Neogen (NASDAQ:NEOG) last issued its earnings results on Tuesday, April 9th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.02). Neogen had a net margin of 0.17% and a return on equity of 3.35%. The business had revenue of $228.80 million for the quarter, compared to the consensus estimate of $230.01 million. During the same period last year, the business posted $0.12 EPS. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, analysts predict that Neogen will post 0.5 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO John Edward Adent acquired 23,000 shares of the business’s stock in a transaction dated Wednesday, April 10th. The stock was purchased at an average price of $12.36 per share, for a total transaction of $284,280.00. Following the completion of the transaction, the chief executive officer now directly owns 152,389 shares in the company, valued at approximately $1,883,528.04. The acquisition was disclosed in a filing with the SEC, which is available through this link. In other news, CEO John Edward Adent acquired 23,000 shares of Neogen stock in a transaction on Wednesday, April 10th. The shares were acquired at an average price of $12.36 per share, with a total value of $284,280.00. Following the purchase, the chief executive officer now directly owns 152,389 shares in the company, valued at approximately $1,883,528.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO David H. Naemura bought 12,500 shares of the stock in a transaction dated Wednesday, April 10th. The shares were purchased at an average price of $12.51 per share, with a total value of $156,375.00. Following the completion of the transaction, the chief financial officer now directly owns 30,040 shares in the company, valued at approximately $375,800.40. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 43,000 shares of company stock worth $538,605. 0.71% of the stock is owned by insiders.

Institutional Trading of Neogen

A number of institutional investors have recently bought and sold shares of NEOG. BlackRock Inc. purchased a new stake in shares of Neogen during the first quarter valued at $451,277,000. Vanguard Group Inc. raised its stake in shares of Neogen by 9.3% during the fourth quarter. Vanguard Group Inc. now owns 19,546,737 shares of the company’s stock valued at $393,085,000 after acquiring an additional 1,663,125 shares in the last quarter. Norges Bank purchased a new stake in shares of Neogen in the fourth quarter valued at approximately $365,794,000. Baillie Gifford & Co. purchased a new stake in shares of Neogen in the fourth quarter valued at approximately $166,646,000. Finally, Select Equity Group L.P. bought a new position in Neogen in the first quarter worth approximately $147,849,000. 96.73% of the stock is currently owned by institutional investors.

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.