Equities analysts expect Neogen Co. (NASDAQ:NEOG) to announce $103.47 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Neogen’s earnings. The lowest sales estimate is $102.00 million and the highest is $104.30 million. Neogen posted sales of $95.26 million in the same quarter last year, which would indicate a positive year over year growth rate of 8.6%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, September 18th.
On average, analysts expect that Neogen will report full-year sales of $437.01 million for the current financial year, with estimates ranging from $430.00 million to $440.60 million. For the next financial year, analysts expect that the firm will report sales of $471.70 million per share, with estimates ranging from $465.00 million to $478.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that that provide coverage for Neogen.
Neogen (NASDAQ:NEOG) last announced its quarterly earnings data on Tuesday, July 17th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.03. Neogen had a net margin of 15.70% and a return on equity of 11.97%. The firm had revenue of $109.29 million for the quarter, compared to analyst estimates of $108.11 million. During the same quarter in the prior year, the business earned $0.24 earnings per share. The business’s quarterly revenue was up 10.6% compared to the same quarter last year.
NEOG has been the topic of several research reports. BidaskClub lowered shares of Neogen from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 24th. Craig Hallum upped their price objective on shares of Neogen from $65.00 to $70.00 and gave the company a “hold” rating in a report on Wednesday, July 18th. Zacks Investment Research lowered shares of Neogen from a “hold” rating to a “sell” rating in a report on Thursday, May 31st. Finally, ValuEngine upgraded shares of Neogen from a “buy” rating to a “strong-buy” rating in a report on Friday, July 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $67.75.
Shares of NASDAQ NEOG traded up $1.31 during trading on Monday, hitting $90.81. 194,200 shares of the company traded hands, compared to its average volume of 190,113. Neogen has a fifty-two week low of $49.51 and a fifty-two week high of $90.90. The firm has a market capitalization of $4.61 billion, a P/E ratio of 73.55 and a beta of 1.33.
In other news, insider James L. Herbert sold 38,600 shares of the business’s stock in a transaction dated Wednesday, July 18th. The shares were sold at an average price of $82.20, for a total transaction of $3,172,920.00. Following the completion of the sale, the insider now directly owns 775,226 shares of the company’s stock, valued at $63,723,577.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jack C. Parnell sold 2,418 shares of the business’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $83.97, for a total transaction of $203,039.46. Following the sale, the director now directly owns 14,073 shares of the company’s stock, valued at $1,181,709.81. The disclosure for this sale can be found here. Over the last three months, insiders have sold 246,650 shares of company stock valued at $20,257,385. 4.20% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC bought a new stake in shares of Neogen during the second quarter worth about $106,000. We Are One Seven LLC increased its position in shares of Neogen by 188.2% during the first quarter. We Are One Seven LLC now owns 1,591 shares of the company’s stock worth $107,000 after acquiring an additional 1,039 shares in the last quarter. World Asset Management Inc bought a new stake in shares of Neogen during the second quarter worth about $201,000. Concorde Asset Management LLC bought a new stake in shares of Neogen during the second quarter worth about $203,000. Finally, Cue Financial Group Inc. bought a new stake in shares of Neogen during the second quarter worth about $221,000. 89.48% of the stock is owned by institutional investors.
Neogen Company Profile
Neogen Corporation, together with its subsidiaries, develops, manufactures, and markets various products for food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment primarily offers diagnostic test kits and complementary to detect dangerous and/or unintended substances in human food and animal feed, such as 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 for adenosine triphosphate, a chemical found in living cells.
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