Neogen Corporation (NASDAQ:NEOG - Get Free Report) saw strong trading volume on Tuesday . 9,036,924 shares traded hands during trading, an increase of 163% from the previous session's volume of 3,430,462 shares.The stock last traded at $5.09 and had previously closed at $4.78.
Wall Street Analyst Weigh In
Several brokerages have issued reports on NEOG. Guggenheim dropped their price target on Neogen from $13.00 to $10.00 and set a "buy" rating for the company in a research note on Monday. Piper Sandler dropped their price target on Neogen from $6.40 to $5.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd.
View Our Latest Stock Analysis on Neogen
Neogen Stock Performance
The company has a debt-to-equity ratio of 0.33, a current ratio of 3.91 and a quick ratio of 2.45. The company has a 50 day simple moving average of $5.59 and a 200-day simple moving average of $8.33. The stock has a market cap of $1.16 billion, a P/E ratio of -2.39 and a beta of 1.77.
Neogen (NASDAQ:NEOG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 9th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.02). Neogen had a positive return on equity of 2.69% and a negative net margin of 53.56%. The firm had revenue of $221.00 million for the quarter, compared to the consensus estimate of $225.27 million. During the same period last year, the firm earned $0.12 EPS. The company's revenue for the quarter was down 3.4% on a year-over-year basis. On average, equities analysts expect that Neogen Corporation will post 0.38 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, Director Aashima Gupta bought 16,000 shares of the stock in a transaction dated Monday, May 12th. The stock was bought at an average price of $6.25 per share, with a total value of $100,000.00. Following the purchase, the director owned 21,917 shares in the company, valued at approximately $136,981.25. The trade was a 270.41% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James C. Borel bought 35,000 shares of the stock in a transaction dated Thursday, April 24th. The stock was bought at an average cost of $4.89 per share, with a total value of $171,150.00. Following the purchase, the director owned 60,474 shares in the company, valued at $295,717.86. The trade was a 137.39% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 83,500 shares of company stock worth $431,525 in the last 90 days. 1.13% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Neogen
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Covestor Ltd lifted its stake in shares of Neogen by 41.4% in the 4th quarter. Covestor Ltd now owns 4,103 shares of the company's stock valued at $50,000 after acquiring an additional 1,202 shares during the last quarter. Inspire Advisors LLC raised its position in Neogen by 10.1% during the 4th quarter. Inspire Advisors LLC now owns 14,226 shares of the company's stock valued at $173,000 after purchasing an additional 1,304 shares during the last quarter. CHICAGO TRUST Co NA raised its position in Neogen by 19.1% during the 1st quarter. CHICAGO TRUST Co NA now owns 12,498 shares of the company's stock valued at $108,000 after purchasing an additional 2,000 shares during the last quarter. Ascent Group LLC raised its position in Neogen by 17.8% during the 4th quarter. Ascent Group LLC now owns 14,340 shares of the company's stock valued at $174,000 after purchasing an additional 2,165 shares during the last quarter. Finally, Harbour Investments Inc. bought a new position in Neogen during the 4th quarter valued at approximately $27,000. Institutional investors own 96.73% of the company's stock.
About Neogen
(
Get Free Report)
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.
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