Douglas Edward Jones Acquires 10,000 Shares of Neogen Co. (NASDAQ:NEOG) Stock

Neogen Co. (NASDAQ:NEOG) COO Douglas Edward Jones acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were purchased at an average price of $12.36 per share, with a total value of $123,600.00. Following the completion of the acquisition, the chief operating officer now owns 46,131 shares in the company, valued at $570,179.16. The purchase was disclosed in a filing with the SEC, which is available at this link.

Neogen Trading Down 1.7 %

NEOG stock opened at $11.93 on Friday. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 1,194.19 and a beta of 1.13. The company has a quick ratio of 2.66, a current ratio of 3.82 and a debt-to-equity ratio of 0.28. The business has a fifty day simple moving average of $15.52 and a 200-day simple moving average of $16.54. Neogen Co. has a 52 week low of $11.74 and a 52 week high of $24.09.

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

Wall Street Analysts Forecast Growth

Separately, Piper Sandler dropped their price objective on Neogen from $19.00 to $17.00 and set a “neutral” rating for the company in a report on Monday.

Institutional Trading of Neogen

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Neogen during the 1st quarter worth $451,277,000. Vanguard Group Inc. boosted its position in Neogen by 9.3% in the 4th quarter. Vanguard Group Inc. now owns 19,546,737 shares of the company’s stock valued at $393,085,000 after buying an additional 1,663,125 shares during the last quarter. Norges Bank purchased a new position in Neogen in the 4th quarter valued at about $365,794,000. Baillie Gifford & Co. purchased a new position in Neogen in the 4th quarter valued at about $166,646,000. Finally, Select Equity Group L.P. purchased a new position in Neogen in the 1st quarter valued at about $147,849,000. 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.