Neogen Co. (NASDAQ:NEOG) CFO Buys $164,428.00 in Stock

Neogen Co. (NASDAQ:NEOG) CFO David H. Naemura acquired 14,800 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were acquired at an average price of $11.11 per share, with a total value of $164,428.00. Following the acquisition, the chief financial officer now owns 61,434 shares in the company, valued at approximately $682,531.74. The trade was a 31.74 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Neogen Trading Down 0.3 %

Shares of NASDAQ:NEOG opened at $11.56 on Friday. The business has a 50-day moving average price of $13.14 and a 200-day moving average price of $14.94. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of -5.28 and a beta of 1.23. Neogen Co. has a 52-week low of $10.72 and a 52-week high of $18.58. 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 (NASDAQ:NEOG) last released its quarterly earnings data on Friday, January 10th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.12. The firm had revenue of $231.30 million for the quarter, compared to analyst estimates of $227.16 million. Neogen had a negative net margin of 2.58% and a positive return on equity of 2.80%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 earnings per share. Equities analysts predict that Neogen Co. will post 0.5 EPS for the current year.

Wall Street Analyst Weigh In

NEOG has been the subject of a number of research analyst reports. StockNews.com upgraded Neogen to a “sell” rating in a research note on Monday, September 30th. Guggenheim started coverage on shares of Neogen in a research note on Thursday, December 19th. They set a “buy” rating and a $15.00 price objective for the company.

Hedge Funds Weigh In On Neogen

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

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.