Roth Capital set a $62.00 target price on Neogen (NASDAQ:NEOG) in a research note published on Thursday, January 4th. The firm currently has a hold rating on the stock.
Several other analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Neogen from a buy rating to a hold rating in a research note on Wednesday, November 1st. Craig Hallum lifted their price objective on shares of Neogen from $46.50 to $60.00 and gave the stock a hold rating in a research note on Thursday, December 7th. Five investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. The stock has an average rating of Hold and an average price target of $63.25.
Neogen (NASDAQ NEOG) opened at $59.12 on Thursday. Neogen has a 1 year low of $44.63 and a 1 year high of $64.42. The firm has a market cap of $3,050.14, a PE ratio of 58.82, a P/E/G ratio of 3.73 and a beta of 1.54.
Neogen (NASDAQ:NEOG) last issued its quarterly earnings data on Wednesday, January 3rd. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07. Neogen had a net margin of 13.47% and a return on equity of 10.72%. The business had revenue of $101.80 million during the quarter, compared to analysts’ expectations of $102.46 million. During the same quarter in the previous year, the company earned $0.29 EPS. The business’s revenue was up 12.2% on a year-over-year basis. equities analysts forecast that Neogen will post 1.06 earnings per share for the current fiscal year.
In related news, insider James L. Herbert sold 26,000 shares of Neogen stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $81.45, for a total transaction of $2,117,700.00. Following the sale, the insider now directly owns 879,430 shares of the company’s stock, valued at approximately $71,629,573.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Edward Bradley sold 17,824 shares of Neogen stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $80.32, for a total transaction of $1,431,623.68. Following the sale, the vice president now directly owns 27,212 shares in the company, valued at $2,185,667.84. The disclosure for this sale can be found here. Insiders have sold a total of 47,824 shares of company stock worth $3,870,364 over the last ninety days. 4.20% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp grew its holdings in Neogen by 4.8% during the 2nd quarter. State Street Corp now owns 949,434 shares of the company’s stock worth $65,613,000 after acquiring an additional 43,496 shares during the last quarter. Nationwide Fund Advisors grew its holdings in Neogen by 3.2% during the 3rd quarter. Nationwide Fund Advisors now owns 386,921 shares of the company’s stock worth $29,971,000 after acquiring an additional 11,909 shares during the last quarter. Fairfield Bush & CO. grew its holdings in Neogen by 4.6% during the 2nd quarter. Fairfield Bush & CO. now owns 86,570 shares of the company’s stock worth $5,983,000 after acquiring an additional 3,845 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in Neogen by 56.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 12,414 shares of the company’s stock worth $858,000 after acquiring an additional 4,455 shares during the last quarter. Finally, Fred Alger Management Inc. grew its holdings in Neogen by 13.8% during the 2nd quarter. Fred Alger Management Inc. now owns 443,000 shares of the company’s stock worth $30,616,000 after acquiring an additional 53,745 shares during the last quarter. 86.96% of the stock is currently owned by hedge funds and other institutional investors.
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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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