Neogen (NASDAQ:NEOG) Hits New 52-Week Low – Should You Sell?

Neogen Co. (NASDAQ:NEOG) reached a new 52-week low on Wednesday . The company traded as low as $11.46 and last traded at $11.47, with a volume of 2751990 shares traded. The stock had previously closed at $12.00.

Analyst Ratings Changes

NEOG has been the topic of several recent analyst reports. Guggenheim assumed coverage on Neogen in a research note on Thursday, December 19th. They set a “buy” rating and a $15.00 target price on the stock. StockNews.com upgraded shares of Neogen to a “sell” rating in a research report on Monday, September 30th.

Neogen Trading Down 0.3 %

The stock 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 debt-to-equity ratio of 0.28, a quick ratio of 2.79 and a current ratio of 4.41. The stock’s fifty day moving average is $13.24 and its 200 day moving average is $14.97.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings data on Friday, January 10th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.12. The business had revenue of $231.30 million during the quarter, compared to analyst estimates of $227.16 million. Neogen had a positive return on equity of 2.80% and a negative net margin of 2.58%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the company earned $0.11 EPS. As a group, equities research analysts predict that Neogen Co. will post 0.5 earnings per share for the current fiscal year.

Insider Transactions at Neogen

In other news, CFO David H. Naemura acquired 14,800 shares of Neogen stock in a transaction that occurred on Thursday, January 16th. The shares were bought at an average cost of $11.11 per share, with a total value of $164,428.00. Following the transaction, the chief financial officer now directly owns 61,434 shares of the company’s stock, valued at $682,531.74. This trade represents a 31.74 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO John Edward Adent bought 23,035 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were acquired at an average cost of $11.03 per share, for a total transaction of $254,076.05. Following the purchase, the chief executive officer now owns 269,164 shares of the company’s stock, valued at approximately $2,968,878.92. The trade was a 9.36 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.13% of the company’s stock.

Institutional Trading of Neogen

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its holdings in shares of Neogen by 142.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company’s stock worth $33,000 after purchasing an additional 1,165 shares during the last quarter. Neo Ivy Capital Management bought a new position in Neogen in the 3rd quarter worth about $66,000. Marco Investment Management LLC purchased a new position in shares of Neogen during the third quarter worth approximately $169,000. Avanza Fonder AB bought a new stake in shares of Neogen during the fourth quarter valued at approximately $169,000. Finally, Raymond James Trust N.A. purchased a new stake in shares of Neogen in the third quarter valued at approximately $182,000. Hedge funds and other institutional investors own 96.73% of the company’s stock.

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.