Neogen (NASDAQ:NEOG) Shares Gap Up to $15.17

Neogen Co. (NASDAQ:NEOG)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $15.17, but opened at $15.89. Neogen shares last traded at $16.09, with a volume of 412,303 shares trading hands.

Analyst Upgrades and Downgrades

NEOG has been the topic of several analyst reports. Piper Sandler decreased their price target on Neogen from $19.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, April 15th. StockNews.com raised Neogen to a “sell” rating in a report on Wednesday.

Neogen Stock Up 6.8 %

The company has a quick ratio of 2.66, a current ratio of 3.82 and a debt-to-equity ratio of 0.28. The stock has a 50-day simple moving average of $14.63 and a two-hundred day simple moving average of $15.54. The firm has a market cap of $3.51 billion, a PE ratio of 1,624.00 and a beta of 1.20.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings data on Tuesday, April 9th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). The business had revenue of $228.80 million during the quarter, compared to analysts’ expectations of $230.01 million. Neogen had a net margin of 0.17% and a return on equity of 3.35%. Neogen’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period last year, the company posted $0.12 EPS. Analysts expect that Neogen Co. will post 0.46 earnings per share for the current year.

Insider Activity

In related news, COO Douglas Edward Jones acquired 10,000 shares of the stock in a transaction on Wednesday, April 17th. The stock was purchased at an average price of $12.36 per share, for a total transaction of $123,600.00. Following the completion of the transaction, the chief operating officer now owns 46,131 shares of the company’s stock, valued at approximately $570,179.16. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.71% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. grew its position in shares of Neogen by 5.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 12,900 shares of the company’s stock worth $259,000 after buying an additional 711 shares during the last quarter. Sheets Smith Wealth Management boosted its holdings in Neogen by 2.6% in the fourth quarter. Sheets Smith Wealth Management now owns 30,795 shares of the company’s stock valued at $619,000 after acquiring an additional 771 shares in the last quarter. Northwest Investment Counselors LLC raised its holdings in Neogen by 1.1% in the 1st quarter. Northwest Investment Counselors LLC now owns 71,621 shares of the company’s stock worth $1,130,000 after purchasing an additional 809 shares in the last quarter. Retirement Systems of Alabama boosted its stake in shares of Neogen by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 246,534 shares of the company’s stock valued at $4,958,000 after purchasing an additional 827 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in shares of Neogen by 1.2% during the first quarter. Bessemer Group Inc. now owns 73,920 shares of the company’s stock valued at $1,166,000 after buying an additional 851 shares during the period. Hedge funds and other institutional investors 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.