Neogen Co. (NASDAQ:NEOG – Get Free Report) reached a new 52-week low during trading on Monday . The company traded as low as $10.25 and last traded at $10.35, with a volume of 89688 shares traded. The stock had previously closed at $10.37.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on NEOG shares. Piper Sandler restated a “neutral” rating and set a $13.00 target price (down from $16.50) on shares of Neogen in a research note on Tuesday, January 21st. Guggenheim initiated coverage on Neogen in a research note on Thursday, December 19th. They set a “buy” rating and a $15.00 price objective for the company.
Check Out Our Latest Stock Analysis on Neogen
Neogen Stock Up 0.3 %
Neogen (NASDAQ:NEOG – Get Free Report) last issued its earnings results on Friday, January 10th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.12. The firm had revenue of $231.30 million for the quarter, compared to analysts’ expectations of $227.16 million. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. Neogen’s revenue was up .7% on a year-over-year basis. During the same quarter last year, the company posted $0.11 earnings per share. As a group, analysts expect that Neogen Co. will post 0.38 earnings per share for the current fiscal year.
Insider Activity
In other Neogen news, CFO David H. Naemura acquired 14,800 shares of Neogen stock in a transaction dated Thursday, January 16th. The stock was bought at an average price of $11.11 per share, for a total transaction of $164,428.00. Following the transaction, the chief financial officer now owns 61,434 shares in the company, valued at approximately $682,531.74. This trade represents a 31.74 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John Edward Adent bought 23,035 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was acquired at an average price of $11.03 per share, for a total transaction of $254,076.05. Following the completion of the acquisition, the chief executive officer now directly owns 269,164 shares in the company, valued at approximately $2,968,878.92. This represents a 9.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.13% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Citigroup Inc. raised its position in shares of Neogen by 129.1% during the third quarter. Citigroup Inc. now owns 231,833 shares of the company’s stock worth $3,897,000 after purchasing an additional 130,641 shares during the period. American Capital Management Inc. lifted its position in shares of Neogen by 36.5% in the 3rd quarter. American Capital Management Inc. now owns 3,414,700 shares of the company’s stock valued at $57,401,000 after acquiring an additional 913,604 shares in the last quarter. State Street Corp boosted its stake in Neogen by 3.1% in the 3rd quarter. State Street Corp now owns 7,932,192 shares of the company’s stock worth $133,340,000 after purchasing an additional 236,762 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Neogen by 17.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,166 shares of the company’s stock worth $642,000 after purchasing an additional 5,804 shares in the last quarter. Finally, Barclays PLC raised its stake in Neogen by 129.8% during the 3rd quarter. Barclays PLC now owns 366,753 shares of the company’s stock valued at $6,165,000 after purchasing an additional 207,160 shares during the period. 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.
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