Neogen (NASDAQ:NEOG) Stock Price Down 3.9% - Should You Sell?

Shares of Neogen Corporation (NASDAQ:NEOG - Get Free Report) traded down 3.9% during trading on Wednesday . The stock traded as low as $5.07 and last traded at $5.08. 2,300,601 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 3,232,013 shares. The stock had previously closed at $5.28.

Analyst Ratings Changes

Several brokerages have weighed in on NEOG. Piper Sandler cut their price target on Neogen from $6.40 to $5.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Guggenheim lowered their price objective on Neogen from $15.00 to $13.00 and set a "buy" rating for the company in a research report on Thursday, April 10th.

Neogen Stock Performance

The company has a market cap of $1.07 billion, a price-to-earnings ratio of -2.22 and a beta of 1.84. The company has a current ratio of 3.91, a quick ratio of 2.45 and a debt-to-equity ratio of 0.33. The stock's 50 day moving average price is $5.57 and its 200 day moving average price is $8.78.

Neogen (NASDAQ:NEOG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 9th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.02). The company had revenue of $221.00 million for the quarter, compared to analyst estimates of $225.27 million. Neogen had a positive return on equity of 2.69% and a negative net margin of 53.56%. The business's revenue for the quarter was down 3.4% on a year-over-year basis. During the same period last year, the company posted $0.12 EPS. On average, analysts expect that Neogen Corporation will post 0.38 EPS for the current fiscal year.

Insider Transactions at Neogen

In other news, Director Aashima Gupta acquired 16,000 shares of Neogen stock in a transaction dated Monday, May 12th. The shares were acquired at an average cost of $6.25 per share, with a total value of $100,000.00. Following the purchase, the director now directly owns 21,917 shares of the company's stock, valued at approximately $136,981.25. This trade represents a 270.41% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James C. Borel bought 35,000 shares of the firm's stock in a transaction dated Thursday, April 24th. The shares were purchased at an average price of $4.89 per share, with a total value of $171,150.00. Following the acquisition, the director now directly owns 60,474 shares in the company, valued at approximately $295,717.86. This trade represents a 137.39% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 83,500 shares of company stock worth $431,525 in the last ninety days. Insiders own 1.13% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NEOG. Harbour Investments Inc. purchased a new stake in Neogen during the fourth quarter worth approximately $27,000. Versant Capital Management Inc lifted its holdings in shares of Neogen by 1,495.4% during the 1st quarter. Versant Capital Management Inc now owns 3,127 shares of the company's stock valued at $27,000 after acquiring an additional 2,931 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in shares of Neogen during the 4th quarter valued at $43,000. Blue Trust Inc. boosted its position in Neogen by 247.6% during the 4th quarter. Blue Trust Inc. now owns 3,945 shares of the company's stock worth $48,000 after purchasing an additional 2,810 shares during the period. Finally, Covestor Ltd increased its holdings in 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 purchasing an additional 1,202 shares in the last quarter. Hedge funds and other institutional investors own 96.73% of the company's stock.

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.