John Edward Adent Buys 23,035 Shares of Neogen Co. (NASDAQ:NEOG) Stock

Neogen Co. (NASDAQ:NEOG) CEO John Edward Adent bought 23,035 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were purchased at an average price of $11.03 per share, for a total transaction of $254,076.05. Following the completion of the acquisition, the chief executive officer now owns 269,164 shares of the company’s stock, valued at $2,968,878.92. The trade was a 9.36 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Neogen Price Performance

Shares of NEOG stock opened at $11.56 on Friday. The business has a fifty day simple moving average of $13.14 and a 200 day simple moving average of $14.95. The company has a market cap of $2.51 billion, a P/E ratio of -5.28 and a beta of 1.23. The company has a quick ratio of 2.79, a current ratio of 4.41 and a debt-to-equity ratio of 0.28. Neogen Co. has a twelve month low of $10.72 and a twelve month high of $18.58.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings data on Friday, January 10th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.12. Neogen had a negative net margin of 2.58% and a positive return on equity of 2.80%. The business had revenue of $231.30 million during the quarter, compared to the consensus estimate of $227.16 million. During the same quarter in the prior year, the firm earned $0.11 EPS. The firm’s revenue was up .7% compared to the same quarter last year. On average, sell-side analysts forecast that Neogen Co. will post 0.5 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Trading of Neogen

Several hedge funds and other institutional investors have recently made changes to their positions in NEOG. Citigroup Inc. boosted its position in Neogen by 129.1% during the 3rd quarter. Citigroup Inc. now owns 231,833 shares of the company’s stock worth $3,897,000 after buying an additional 130,641 shares during the period. American Capital Management Inc. lifted its holdings in shares of Neogen by 36.5% during the third quarter. American Capital Management Inc. now owns 3,414,700 shares of the company’s stock worth $57,401,000 after purchasing an additional 913,604 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of Neogen during the second quarter worth $5,714,000. Oppenheimer Asset Management Inc. increased its holdings in Neogen by 39.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 103,611 shares of the company’s stock valued at $1,619,000 after purchasing an additional 29,489 shares during the period. Finally, State Street Corp raised its position in Neogen by 3.1% during the 3rd quarter. State Street Corp now owns 7,932,192 shares of the company’s stock worth $133,340,000 after purchasing an additional 236,762 shares during the last quarter. 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.