James P. Tobin Acquires 3,000 Shares of Neogen Co. (NASDAQ:NEOG) Stock

Neogen Co. (NASDAQ:NEOG) Director James P. Tobin acquired 3,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average price of $16.86 per share, with a total value of $50,580.00. Following the completion of the transaction, the director now owns 23,392 shares of the company’s stock, valued at $394,389.12. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Neogen Trading Down 1.1 %

Shares of Neogen stock traded down $0.19 during trading on Friday, hitting $16.80. 1,036,043 shares of the company were exchanged, compared to its average volume of 2,120,224. The firm has a market capitalization of $3.64 billion, a P/E ratio of 1,680.00 and a beta of 1.20. Neogen Co. has a 1-year low of $11.46 and a 1-year high of $24.09. The firm’s fifty day moving average price is $16.34 and its 200 day moving average price is $15.24. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.82 and a quick ratio of 2.66.

Neogen (NASDAQ:NEOG) last posted its earnings results on Tuesday, July 30th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.02). The company had revenue of $236.80 million for the quarter, compared to analyst estimates of $225.83 million. Neogen had a positive return on equity of 3.09% and a negative net margin of 1.02%. Neogen’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.14 earnings per share. As a group, sell-side analysts expect that Neogen Co. will post 0.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Neogen

Several institutional investors and hedge funds have recently modified their holdings of NEOG. Covestor Ltd grew its position in shares of Neogen by 173.2% in the 1st quarter. Covestor Ltd now owns 1,970 shares of the company’s stock valued at $31,000 after purchasing an additional 1,249 shares during the period. Innealta Capital LLC bought a new position in shares of Neogen during the 2nd quarter worth approximately $46,000. Headlands Technologies LLC raised its holdings in shares of Neogen by 264.1% in the second quarter. Headlands Technologies LLC now owns 3,397 shares of the company’s stock valued at $53,000 after purchasing an additional 2,464 shares during the last quarter. Family Firm Inc. bought a new stake in shares of Neogen in the second quarter worth $90,000. Finally, Quantum Private Wealth LLC bought a new stake in shares of Neogen in the second quarter worth $156,000. 96.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NEOG has been the subject of a number of research reports. StockNews.com upgraded Neogen to a “sell” rating in a research report on Wednesday, July 10th. Piper Sandler lifted their price objective on Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a research report on Tuesday.

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.