Neogen (NASDAQ:NEOG) Releases Earnings Results, Beats Expectations By $0.02 EPS

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Neogen (NASDAQ:NEOG) released its earnings results on Tuesday. The company reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.02, Briefing.com reports. Neogen had a return on equity of 9.86% and a net margin of 14.53%. The firm had revenue of $109.80 million during the quarter, compared to analysts’ expectations of $110.14 million. During the same period in the previous year, the firm posted $0.33 EPS. Neogen’s revenue for the quarter was up 1.6% on a year-over-year basis.

NEOG opened at $68.58 on Friday. Neogen has a 12 month low of $50.60 and a 12 month high of $97.38. The firm has a market cap of $3.60 billion, a PE ratio of 59.63, a price-to-earnings-growth ratio of 5.68 and a beta of 1.34. The company has a debt-to-equity ratio of 0.03, a current ratio of 11.75 and a quick ratio of 9.86. The business’s fifty day moving average is $61.88.

NEOG has been the subject of several analyst reports. Craig Hallum boosted their target price on Neogen from $72.00 to $78.00 and gave the stock an “in-line” rating in a research note on Wednesday. Zacks Investment Research cut Gold Resource from a “hold” rating to a “sell” rating in a research note on Friday, June 21st. Guggenheim reissued a “buy” rating and set a $95.00 target price (up from $90.00) on shares of VF in a research note on Thursday, May 23rd. Finally, BidaskClub cut Westport Fuel Systems from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $73.00.

In other news, Director James L. Herbert sold 5,000 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $65.00, for a total transaction of $325,000.00. Following the completion of the transaction, the director now directly owns 626,484 shares of the company’s stock, valued at approximately $40,721,460. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James L. Herbert sold 15,000 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $59.05, for a total value of $885,750.00. Following the transaction, the director now directly owns 671,484 shares of the company’s stock, valued at $39,651,130.20. The disclosure for this sale can be found here. Insiders have sold a total of 131,273 shares of company stock valued at $8,110,975 over the last three months. 3.00% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in NEOG. Comerica Bank lifted its holdings in shares of Neogen by 1.8% in the 1st quarter. Comerica Bank now owns 91,316 shares of the company’s stock valued at $5,302,000 after purchasing an additional 1,638 shares during the last quarter. Azimuth Capital Management LLC lifted its holdings in shares of Neogen by 2.4% in the 1st quarter. Azimuth Capital Management LLC now owns 19,415 shares of the company’s stock valued at $1,114,000 after purchasing an additional 450 shares during the last quarter. Conestoga Capital Advisors LLC lifted its holdings in shares of Neogen by 1.7% in the 1st quarter. Conestoga Capital Advisors LLC now owns 1,546,058 shares of the company’s stock valued at $88,728,000 after purchasing an additional 26,290 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of Neogen by 2.4% in the 4th quarter. California State Teachers Retirement System now owns 78,767 shares of the company’s stock valued at $4,490,000 after purchasing an additional 1,830 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Neogen by 12.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 51,324 shares of the company’s stock valued at $2,925,000 after purchasing an additional 5,716 shares during the last quarter. 90.51% of the stock is owned by institutional investors and hedge funds.

About Neogen

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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Earnings History for Neogen (NASDAQ:NEOG)

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