Neogen (NASDAQ:NEOG) Sets New 1-Year Low on Analyst Downgrade

Neogen Co. (NASDAQ:NEOG - Get Free Report) shares reached 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 traded. The stock had previously closed at $12.38.

Insider Transactions at Neogen

In related news, CFO David H. Naemura purchased 12,500 shares of the firm's stock in a transaction dated Wednesday, April 10th. The stock was bought 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 in the company, valued at approximately $375,800.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Neogen news, CFO David H. Naemura acquired 12,500 shares of the business's stock in a transaction that occurred on Wednesday, April 10th. The stock was bought at an average cost of $12.51 per share, with a total value of $156,375.00. Following the acquisition, the chief financial officer now owns 30,040 shares in the company, valued at $375,800.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James C. Borel acquired 7,500 shares of the business's stock in a transaction that occurred on Thursday, April 11th. The stock was acquired at an average cost of $13.06 per share, with a total value of $97,950.00. Following the completion of the acquisition, the director now owns 21,392 shares in the company, valued at approximately $279,379.52. The disclosure for this purchase can be found here. Insiders purchased a total of 43,000 shares of company stock worth $538,605 in the last quarter. Insiders own 0.71% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC bought a new stake in shares of Neogen during the 1st quarter worth $29,000. O Dell Group LLC purchased a new position in Neogen in the 4th quarter worth $37,000. State of Tennessee Treasury Department purchased a new position in Neogen in the 1st quarter worth $45,000. International Assets Investment Management LLC purchased a new position in Neogen in the 3rd quarter worth $49,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Neogen by 416.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,033 shares of the company's stock valued at $56,000 after acquiring an additional 2,446 shares during the period. 96.73% of the stock is owned by institutional investors.

Neogen Price Performance

The business's 50-day simple moving average is $15.75 and its 200-day simple moving average is $16.65. The stock has a market cap of $2.60 billion, a PE ratio of 1,202.20 and a beta of 1.13. The company has a quick ratio of 2.66, a current ratio of 3.82 and a debt-to-equity ratio of 0.28.

Neogen (NASDAQ:NEOG - Get Free Report) last released 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). Neogen had a net margin of 0.17% and a return on equity of 3.35%. The firm had revenue of $228.80 million during the quarter, compared to analysts' expectations of $230.01 million. During the same quarter in the previous year, the firm posted $0.12 EPS. Neogen's revenue was up 4.8% compared to the same quarter last year. On average, research analysts expect that Neogen Co. will post 0.5 EPS for the current fiscal year.

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.