Neogen (NASDAQ:NEOG) Price Target Cut to $17.00 by Analysts at Piper Sandler

Neogen (NASDAQ:NEOG) had its price target reduced by Piper Sandler from $19.00 to $17.00 in a report issued on Monday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Neogen Trading Down 1.7 %

Shares of NEOG opened at $11.93 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.82 and a quick ratio of 2.66. The firm has a 50 day simple moving average of $15.52 and a 200-day simple moving average of $16.54. Neogen has a 1-year low of $11.74 and a 1-year high of $24.09. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of 1,194.19 and a beta of 1.13.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings data on Tuesday, April 9th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). Neogen had a return on equity of 3.35% and a net margin of 0.17%. The business had revenue of $228.80 million for the quarter, compared to analysts’ expectations of $230.01 million. During the same period last year, the business earned $0.12 earnings per share. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. Equities analysts forecast that Neogen will post 0.5 EPS for the current fiscal year.

Insider Transactions at Neogen

In other Neogen news, CEO John Edward Adent acquired 23,000 shares of the company’s stock in a transaction dated Wednesday, April 10th. The stock was acquired at an average cost of $12.36 per share, with a total value of $284,280.00. Following the purchase, the chief executive officer now directly owns 152,389 shares in the company, valued at approximately $1,883,528.04. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO David H. Naemura bought 12,500 shares of the stock in a transaction on Wednesday, April 10th. The stock was purchased at an average cost of $12.51 per share, with a total value of $156,375.00. Following the purchase, the chief financial officer now owns 30,040 shares of the company’s stock, valued at $375,800.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO John Edward Adent bought 23,000 shares of the stock in a transaction on Wednesday, April 10th. The stock was purchased at an average cost of $12.36 per share, with a total value of $284,280.00. Following the completion of the purchase, the chief executive officer now directly owns 152,389 shares in the company, valued at approximately $1,883,528.04. The disclosure for this purchase can be found here. Insiders acquired a total of 53,000 shares of company stock valued at $662,205 in the last ninety days. Corporate insiders own 0.71% of the company’s stock.

Institutional Trading of Neogen

Several hedge funds and other institutional investors have recently bought and sold shares of NEOG. Raymond James Trust N.A. grew its stake in shares of Neogen by 6.7% during the 1st quarter. Raymond James Trust N.A. now owns 6,981 shares of the company’s stock valued at $215,000 after buying an additional 441 shares during the period. United Services Automobile Association grew its stake in shares of Neogen by 4.5% during the 2nd quarter. United Services Automobile Association now owns 13,988 shares of the company’s stock valued at $304,000 after buying an additional 608 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in shares of Neogen by 5.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 12,900 shares of the company’s stock valued at $259,000 after buying an additional 711 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Neogen by 1.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 40,163 shares of the company’s stock valued at $968,000 after buying an additional 759 shares during the period. Finally, Sheets Smith Wealth Management grew its stake in shares of Neogen by 2.6% during the 4th quarter. Sheets Smith Wealth Management now owns 30,795 shares of the company’s stock valued at $619,000 after buying an additional 771 shares during the period. 96.73% of the stock is owned by hedge funds and other institutional investors.

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.