Neogen (NASDAQ:NEOG) Reaches New 1-Year Low – What’s Next?

Neogen Co. (NASDAQ:NEOG)’s share price reached a new 52-week low during trading on Monday . The company traded as low as $8.79 and last traded at $9.30, with a volume of 3867105 shares changing hands. The stock had previously closed at $9.05.

Wall Street Analyst Weigh In

A number of research firms have commented on NEOG. Piper Sandler reissued a “neutral” rating and issued a $13.00 target price (down previously from $16.50) on shares of Neogen in a report on Tuesday, January 21st. Guggenheim began coverage on Neogen in a report on Thursday, December 19th. They issued a “buy” rating and a $15.00 target price for the company.

Neogen Stock Down 0.5 %

The firm has a market cap of $2.01 billion, a price-to-earnings ratio of -4.21 and a beta of 1.27. The company has a current ratio of 3.77, a quick ratio of 2.46 and a debt-to-equity ratio of 0.33. The firm has a 50 day moving average price of $10.69 and a 200-day moving average price of $13.12.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings data on Friday, January 10th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.12. The firm had revenue of $231.30 million during the quarter, compared to analysts’ expectations of $227.16 million. Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the business posted $0.11 EPS. On average, equities analysts forecast that Neogen Co. will post 0.38 EPS for the current year.

Insider Buying and Selling

In other news, CFO David H. Naemura bought 14,800 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was acquired at an average price of $11.11 per share, for a total transaction of $164,428.00. Following the acquisition, the chief financial officer now owns 61,434 shares of the company’s stock, valued at $682,531.74. This trade represents a 31.74 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO John Edward Adent bought 23,035 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were acquired at an average cost of $11.03 per share, with a total value of $254,076.05. Following the transaction, the chief executive officer now owns 269,164 shares in the company, valued at approximately $2,968,878.92. This represents a 9.36 % increase in their position. The disclosure for this purchase can be found here. 1.13% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Neogen

A number of institutional investors and hedge funds have recently bought and sold shares of NEOG. Atria Investments Inc boosted its holdings in Neogen by 29.6% in the 3rd quarter. Atria Investments Inc now owns 32,417 shares of the company’s stock worth $545,000 after acquiring an additional 7,408 shares during the period. Natixis Advisors LLC boosted its holdings in Neogen by 35.1% in the 3rd quarter. Natixis Advisors LLC now owns 96,374 shares of the company’s stock worth $1,620,000 after acquiring an additional 25,061 shares during the period. Mutual of America Capital Management LLC boosted its holdings in Neogen by 44.5% in the 3rd quarter. Mutual of America Capital Management LLC now owns 388,954 shares of the company’s stock worth $6,538,000 after acquiring an additional 119,865 shares during the period. Lindenwold Advisors INC boosted its holdings in Neogen by 19.1% in the 3rd quarter. Lindenwold Advisors INC now owns 12,821 shares of the company’s stock worth $216,000 after acquiring an additional 2,055 shares during the period. Finally, Intech Investment Management LLC boosted its holdings in Neogen by 126.8% in the 3rd quarter. Intech Investment Management LLC now owns 65,944 shares of the company’s stock worth $1,109,000 after acquiring an additional 36,871 shares during the period. 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.