Neogen Co. (NASDAQ:NEOG) CEO John Edward Adent Acquires 23,035 Shares

Neogen Co. (NASDAQ:NEOG) CEO John Edward Adent acquired 23,035 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was acquired at an average price of $11.03 per share, with a total value of $254,076.05. Following the purchase, the chief executive officer now owns 269,164 shares in the company, valued at approximately $2,968,878.92. This represents a 9.36 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Neogen Stock Up 2.1 %

Shares of NASDAQ:NEOG opened at $11.60 on Friday. The company’s fifty day moving average is $13.24 and its 200-day moving average is $14.97. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.79 and a current ratio of 4.41. Neogen Co. has a 52 week low of $10.72 and a 52 week high of $18.58. The company has a market capitalization of $2.51 billion, a PE ratio of -5.30 and a beta of 1.23.

Neogen (NASDAQ:NEOG) last released its quarterly earnings results on Friday, January 10th. The company reported $0.11 EPS for the quarter, beating 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 company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.11 earnings per share. Equities research analysts predict that Neogen Co. will post 0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Neogen

A number of large investors have recently bought and sold shares of the business. Select Equity Group L.P. boosted its stake in Neogen by 23.1% in the second quarter. Select Equity Group L.P. now owns 15,530,439 shares of the company’s stock worth $242,741,000 after purchasing an additional 2,914,893 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Neogen by 148.3% in the second quarter. Dimensional Fund Advisors LP now owns 4,109,180 shares of the company’s stock valued at $64,229,000 after buying an additional 2,454,566 shares during the last quarter. Shapiro Capital Management LLC acquired a new position in Neogen during the 2nd quarter worth about $31,087,000. Fred Alger Management LLC grew its holdings in Neogen by 86.5% during the 3rd quarter. Fred Alger Management LLC now owns 3,986,744 shares of the company’s stock worth $67,017,000 after acquiring an additional 1,849,427 shares during the last quarter. Finally, Conestoga Capital Advisors LLC increased its position in Neogen by 24.5% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 8,706,224 shares of the company’s stock valued at $146,352,000 after acquiring an additional 1,711,238 shares in the last quarter. 96.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NEOG shares. StockNews.com raised shares of Neogen to a “sell” rating in a research note on Monday, September 30th. Guggenheim began coverage on Neogen in a research note on Thursday, December 19th. They issued a “buy” rating and a $15.00 price objective on the stock.

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.