A number of other analysts have also recently issued reports on the company. Zacks Investment Research cut Neogen from a “hold” rating to a “sell” rating in a research note on Monday. Craig Hallum raised Neogen from a “hold” rating to a “buy” rating and set a $62.76 target price for the company in a research note on Tuesday, March 19th. Finally, ValuEngine cut Neogen from a “buy” rating to a “hold” rating in a research note on Wednesday, January 30th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $62.76.
Shares of NEOG stock opened at $56.60 on Wednesday. The stock has a market capitalization of $2.95 billion, a PE ratio of 46.78, a P/E/G ratio of 5.24 and a beta of 1.33. Neogen has a one year low of $50.60 and a one year high of $97.38.
Neogen (NASDAQ:NEOG) last posted its earnings results on Tuesday, March 26th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Neogen had a return on equity of 10.48% and a net margin of 14.96%. The business had revenue of $97.70 million for the quarter, compared to the consensus estimate of $102.55 million. During the same period in the previous year, the company posted $0.32 earnings per share. Neogen’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, sell-side analysts predict that Neogen will post 1.12 earnings per share for the current year.
In other Neogen news, Director James L. Herbert sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $59.05, for a total transaction of $885,750.00. Following the completion of the transaction, the director now owns 671,484 shares of the company’s stock, valued at approximately $39,651,130.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James L. Herbert sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $60.73, for a total value of $303,650.00. Following the transaction, the director now directly owns 671,484 shares of the company’s stock, valued at approximately $40,779,223.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,385 shares of company stock valued at $6,027,055. 3.00% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. Brand Asset Management Group Inc. acquired a new position in Neogen during the 1st quarter worth approximately $39,000. First Hawaiian Bank acquired a new position in Neogen during the 4th quarter worth approximately $26,000. Manchester Capital Management LLC boosted its position in Neogen by 105.6% during the 1st quarter. Manchester Capital Management LLC now owns 590 shares of the company’s stock worth $34,000 after acquiring an additional 303 shares during the last quarter. Buffington Mohr McNeal acquired a new position in Neogen during the 1st quarter worth approximately $43,000. Finally, Captrust Financial Advisors boosted its position in Neogen by 47.0% during the 4th quarter. Captrust Financial Advisors now owns 970 shares of the company’s stock worth $55,000 after acquiring an additional 310 shares during the last quarter. 88.81% of the stock is owned by hedge funds and other 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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