Neogen (NASDAQ:NEOG) Trading 7.1% Higher – What’s Next?

Neogen Co. (NASDAQ:NEOG) traded up 7.1% during mid-day trading on Monday . The company traded as high as $5.57 and last traded at $5.58. 1,204,778 shares were traded during mid-day trading, a decline of 62% from the average session volume of 3,180,053 shares. The stock had previously closed at $5.21.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Guggenheim decreased their price objective on shares of Neogen from $15.00 to $13.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Piper Sandler reduced their target price on Neogen from $6.40 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, April 22nd.

Neogen Trading Up 7.4%

The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.46 and a current ratio of 3.77. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -2.55 and a beta of 1.84. The company’s 50 day moving average is $5.84 and its 200 day moving average is $9.35.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings results on Wednesday, April 9th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The company had revenue of $221.00 million during the quarter, compared to analyst estimates of $225.27 million. During the same period in the prior year, the business earned $0.12 EPS. The business’s revenue for the quarter was down 3.4% on a year-over-year basis. On average, research analysts forecast that Neogen Co. will post 0.38 EPS for the current fiscal year.

Insider Buying and Selling

In other Neogen news, Director James P. Tobin acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, April 22nd. The shares were acquired at an average price of $4.73 per share, for a total transaction of $47,300.00. Following the acquisition, the director now directly owns 37,474 shares of the company’s stock, valued at approximately $177,252.02. This trade represents a 36.40% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James C. Borel acquired 35,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 24th. The stock was acquired at an average price of $4.89 per share, with a total value of $171,150.00. Following the completion of the transaction, the director now directly owns 60,474 shares in the company, valued at $295,717.86. This trade represents a 137.39% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 83,500 shares of company stock valued at $431,525. 1.13% of the stock is owned by company insiders.

Institutional Investors Weigh In On Neogen

Several institutional investors have recently bought and sold shares of the company. Inspire Investing LLC boosted its holdings in Neogen by 28.3% during the first quarter. Inspire Investing LLC now owns 46,663 shares of the company’s stock worth $405,000 after purchasing an additional 10,280 shares during the last quarter. Intech Investment Management LLC increased its position in shares of Neogen by 23.6% in the first quarter. Intech Investment Management LLC now owns 249,197 shares of the company’s stock valued at $2,161,000 after acquiring an additional 47,586 shares during the last quarter. United Services Automobile Association bought a new position in shares of Neogen in the first quarter valued at $112,000. Clearline Capital LP acquired a new position in Neogen during the first quarter worth $1,143,000. Finally, Goldman Sachs Group Inc. raised its position in Neogen by 14.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,678,493 shares of the company’s stock worth $14,553,000 after acquiring an additional 209,990 shares in the last quarter. 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.