BidaskClub Lowers Neogen (NEOG) to Hold

Neogen (NASDAQ:NEOG) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Several other equities analysts also recently issued reports on NEOG. Stephens reiterated a “hold” rating and set a $62.00 price objective on shares of Neogen in a research report on Wednesday. Roth Capital set a $62.00 price objective on Neogen and gave the stock a “hold” rating in a research report on Thursday, January 4th. Zacks Investment Research upgraded Neogen from a “hold” rating to a “strong-buy” rating and set a $69.00 price objective for the company in a research report on Saturday, January 6th. Finally, Craig Hallum boosted their price objective on Neogen from $46.50 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, December 7th. Five equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. Neogen presently has a consensus rating of “Hold” and an average target price of $63.25.

Neogen (NASDAQ:NEOG) opened at $58.27 on Thursday. The stock has a market capitalization of $2,230.00, a P/E ratio of 58.27, a PEG ratio of 3.81 and a beta of 1.54. Neogen has a 52-week low of $44.63 and a 52-week high of $64.42.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings data on Wednesday, January 3rd. The company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.07. The business had revenue of $101.80 million during the quarter, compared to the consensus estimate of $102.46 million. Neogen had a return on equity of 10.72% and a net margin of 13.47%. The business’s revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.29 earnings per share. research analysts expect that Neogen will post 1.04 EPS for the current fiscal year.

In other Neogen news, insider James L. Herbert sold 26,000 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $81.45, for a total value of $2,117,700.00. Following the completion of the sale, the insider now directly owns 879,430 shares in the company, valued at $71,629,573.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Edward Bradley sold 17,824 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $80.32, for a total value of $1,431,623.68. Following the completion of the sale, the vice president now owns 27,212 shares of the company’s stock, valued at $2,185,667.84. The disclosure for this sale can be found here. Insiders sold 47,824 shares of company stock valued at $3,870,364 over the last 90 days. 4.20% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in Neogen in the second quarter worth approximately $154,000. Riverhead Capital Management LLC lifted its position in Neogen by 91.4% in the second quarter. Riverhead Capital Management LLC now owns 2,297 shares of the company’s stock worth $159,000 after purchasing an additional 1,097 shares during the period. Bell Bank acquired a new stake in Neogen in the third quarter worth approximately $201,000. Parametrica Management Ltd acquired a new stake in Neogen in the third quarter worth approximately $202,000. Finally, Arcadia Investment Management Corp MI acquired a new stake in Neogen in the third quarter worth approximately $230,000. Hedge funds and other institutional investors own 86.96% of the company’s stock.

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Neogen Company Profile

Neogen Corporation develops, manufactures and markets a range of products and services dedicated to food and animal safety. The Company operates through two segments: Food Safety and Animal Safety. The Food Safety segment produces and markets diagnostic test kits and related products used by food producers and processors to detect harmful natural toxins, foodborne bacteria, allergens and levels of general sanitation.

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