David H. Naemura Buys 14,800 Shares of Neogen Co. (NASDAQ:NEOG) Stock

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

Neogen Price Performance

NASDAQ:NEOG opened at $11.56 on Friday. Neogen Co. has a 52-week low of $10.72 and a 52-week high of $18.58. 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 debt-to-equity ratio of 0.28, a quick ratio of 2.79 and a current ratio of 4.41. The stock’s 50-day simple moving average is $13.14 and its 200 day simple moving average is $14.95.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings results on Friday, January 10th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate 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 positive return on equity of 2.80% and a negative net margin of 2.58%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.11 EPS. As a group, sell-side analysts forecast that Neogen Co. will post 0.5 EPS for the current fiscal year.

Institutional Trading of Neogen

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Inspire Investing LLC increased its stake in shares of Neogen by 2.7% during the 2nd quarter. Inspire Investing LLC now owns 26,074 shares of the company’s stock worth $408,000 after purchasing an additional 685 shares during the last quarter. Stephens Inc. AR grew its holdings in Neogen by 2.6% during the third quarter. Stephens Inc. AR now owns 35,930 shares of the company’s stock worth $604,000 after purchasing an additional 909 shares during the period. Allspring Global Investments Holdings LLC increased 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 worth $33,000 after buying an additional 1,165 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in Neogen by 3.4% in the second quarter. Commonwealth Equity Services LLC now owns 36,630 shares of the company’s stock valued at $573,000 after buying an additional 1,190 shares during the period. Finally, State of Alaska Department of Revenue lifted its position in shares of Neogen by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 22,810 shares of the company’s stock valued at $383,000 after buying an additional 1,550 shares during the last quarter. 96.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on NEOG. Guggenheim started coverage on Neogen in a research note 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.

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.