Neogen Co. (NASDAQ:NEOG) CEO Purchases $254,076.05 in Stock

Neogen Co. (NASDAQ:NEOGGet Free Report) CEO John Edward Adent purchased 23,035 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were purchased at an average cost of $11.03 per share, with a total value of $254,076.05. Following the purchase, the chief executive officer now directly owns 269,164 shares in the company, valued at approximately $2,968,878.92. The trade was a 9.36 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Neogen Trading Down 0.3 %

Neogen stock opened at $11.56 on Friday. The stock has a market cap of $2.51 billion, a PE ratio of -5.28 and a beta of 1.23. The company has a current ratio of 4.41, a quick ratio of 2.79 and a debt-to-equity ratio of 0.28. The stock has a 50-day moving average price of $13.14 and a 200 day moving average price of $14.94. Neogen Co. has a 52 week low of $10.72 and a 52 week high of $18.58.

Neogen (NASDAQ:NEOGGet Free Report) last issued its quarterly earnings results 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. Neogen had a positive return on equity of 2.80% and a negative net margin of 2.58%. The company had revenue of $231.30 million during the quarter, compared to the consensus estimate of $227.16 million. During the same period in the previous year, the firm posted $0.11 EPS. Neogen’s revenue was up .7% on a year-over-year basis. Equities research analysts predict that Neogen Co. will post 0.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Read Our Latest Research Report on Neogen

Institutional Trading of Neogen

A number of hedge funds have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC grew its holdings in Neogen by 3.4% in the second quarter. Commonwealth Equity Services LLC now owns 36,630 shares of the company’s stock valued at $573,000 after purchasing an additional 1,190 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in shares of Neogen by 39.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 103,611 shares of the company’s stock worth $1,619,000 after buying an additional 29,489 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Neogen by 27.0% in the 2nd 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 period. Dimensional Fund Advisors LP boosted its holdings in 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 acquiring an additional 2,454,566 shares during the last quarter. Finally, Argent Trust Co purchased a new stake in Neogen during the second quarter valued at about $403,000. 96.73% of the stock is owned by institutional investors and hedge funds.

About Neogen

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Neogen (NASDAQ:NEOG)

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