Neogen (NASDAQ:NEOG) Reaches New 12-Month Low at $11.46

Neogen Co. (NASDAQ:NEOG) reached a new 52-week low on Monday . The company traded as low as $11.46 and last traded at $11.55, with a volume of 318110 shares trading hands. The stock had previously closed at $11.61.

Analyst Ratings Changes

Separately, Piper Sandler lowered 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.

Neogen Stock Up 4.5 %

The stock has a 50-day simple moving average of $15.22 and a two-hundred day simple moving average of $16.42. 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 firm has a market cap of $2.67 billion, a PE ratio of 1,232.23 and a beta of 1.13.

Neogen (NASDAQ:NEOG) last released its quarterly earnings data on Tuesday, April 9th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.02). The company had revenue of $228.80 million during the quarter, compared to analysts’ expectations of $230.01 million. Neogen had a return on equity of 3.35% and a net margin of 0.17%. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.12 EPS. Analysts expect that Neogen Co. will post 0.5 earnings per share for the current year.

Insider Transactions at Neogen

In related news, Director James C. Borel acquired 7,500 shares of the firm’s stock in a transaction dated Thursday, April 11th. The shares were purchased at an average price of $13.06 per share, for a total transaction of $97,950.00. Following the completion of the acquisition, the director now owns 21,392 shares in the company, valued at $279,379.52. The purchase was disclosed in a filing with the SEC, which is available at this link. In other Neogen news, CEO John Edward Adent purchased 23,000 shares of Neogen stock in a transaction that occurred on Wednesday, April 10th. The shares were bought at an average price of $12.36 per share, for a total transaction of $284,280.00. Following the acquisition, the chief executive officer now directly owns 152,389 shares in the company, valued at $1,883,528.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director James C. Borel purchased 7,500 shares of Neogen stock in a transaction that occurred on Thursday, April 11th. The shares were acquired at an average price of $13.06 per share, for a total transaction of $97,950.00. Following the acquisition, the director now owns 21,392 shares in the company, valued at $279,379.52. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 53,000 shares of company stock worth $662,205. Company insiders own 0.71% of the company’s stock.

Institutional Trading of Neogen

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Neogen by 9.3% during the 4th quarter. Vanguard Group Inc. now owns 19,546,737 shares of the company’s stock valued at $393,085,000 after acquiring an additional 1,663,125 shares in the last quarter. Norges Bank bought a new stake in Neogen during the 4th quarter valued at approximately $365,794,000. Baillie Gifford & Co. bought a new stake in Neogen during the 4th quarter valued at approximately $166,646,000. Conestoga Capital Advisors LLC boosted its position in shares of Neogen by 4.0% in the 4th quarter. Conestoga Capital Advisors LLC now owns 6,817,600 shares of the company’s stock worth $137,102,000 after purchasing an additional 265,075 shares in the last quarter. Finally, King Luther Capital Management Corp boosted its position in shares of Neogen by 1.2% in the 4th quarter. King Luther Capital Management Corp now owns 6,000,856 shares of the company’s stock worth $120,677,000 after purchasing an additional 70,296 shares in the last quarter. 96.73% of the stock is 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.