Neogen (NASDAQ:NEOG) Hits New 52-Week Low on Analyst Downgrade

Neogen Co. (NASDAQ:NEOG) hit a new 52-week low on Monday after Piper Sandler lowered their price target on the stock from $19.00 to $17.00. Piper Sandler currently has a neutral rating on the stock. Neogen traded as low as $12.15 and last traded at $12.28, with a volume of 767645 shares. The stock had previously closed at $12.38.

Insider Transactions at Neogen

In other Neogen news, CEO John Edward Adent bought 23,000 shares of the business’s stock in a transaction dated Wednesday, April 10th. The shares were purchased at an average price of $12.36 per share, for a total transaction of $284,280.00. Following the purchase, the chief executive officer now directly owns 152,389 shares of the company’s stock, valued at $1,883,528.04. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other Neogen news, CFO David H. Naemura bought 12,500 shares of the business’s stock in a transaction dated Wednesday, April 10th. The shares were purchased at an average price of $12.51 per share, for a total transaction of $156,375.00. Following the purchase, the chief financial officer now directly owns 30,040 shares of the company’s stock, valued at $375,800.40. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John Edward Adent purchased 23,000 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was bought at an average cost 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 approximately $1,883,528.04. The disclosure for this purchase can be found here. Insiders have acquired 43,000 shares of company stock worth $538,605 in the last 90 days. Insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On Neogen

Hedge funds have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC bought a new stake in shares of Neogen in the 1st quarter worth approximately $29,000. O Dell Group LLC bought a new stake in shares of Neogen in the 4th quarter worth approximately $37,000. Point72 Hong Kong Ltd bought a new stake in shares of Neogen in the 1st quarter worth approximately $71,000. State of Tennessee Treasury Department bought a new stake in shares of Neogen in the 1st quarter worth approximately $45,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Neogen in the 3rd quarter worth approximately $49,000. Institutional investors own 96.73% of the company’s stock.

Neogen Price Performance

The company has a current ratio of 3.82, a quick ratio of 2.66 and a debt-to-equity ratio of 0.28. The company has a market cap of $2.60 billion, a P/E ratio of 1,202.20 and a beta of 1.13. The business’s fifty day moving average is $15.75 and its 200 day moving average is $16.65.

Neogen (NASDAQ:NEOG) last issued its earnings results 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). Neogen had a net margin of 0.17% and a return on equity of 3.35%. The business had revenue of $228.80 million for the quarter, compared to the consensus estimate of $230.01 million. During the same period in the previous year, the firm earned $0.12 EPS. The company’s revenue was up 4.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Neogen Co. will post 0.5 EPS for the current year.

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.