BidaskClub cut shares of Neogen (NASDAQ:NEOG) from a buy rating to a hold rating in a research report report published on Thursday, January 11th.
A number of other brokerages also recently issued reports on NEOG. Craig Hallum lifted their price target on Neogen from $46.50 to $60.00 and gave the company a hold rating in a research report on Thursday, December 7th. Roth Capital initiated coverage on Neogen in a research report on Tuesday, December 5th. They issued a neutral rating and a $61.50 target price for the company. Zacks Investment Research downgraded Neogen from a buy rating to a hold rating in a research report on Friday, October 13th. Finally, Stephens restated a hold rating and issued a $62.00 target price on shares of Neogen in a research report on Wednesday, January 10th. Five equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $63.25.
Neogen (NASDAQ:NEOG) opened at $58.73 on Thursday. The firm has a market capitalization of $3,035.71, a PE ratio of 58.44, a price-to-earnings-growth ratio of 3.71 and a beta of 1.54. Neogen has a twelve month low of $44.63 and a twelve month high of $64.42.
Neogen (NASDAQ:NEOG) last posted its earnings results on Wednesday, January 3rd. The company reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.07. The business had revenue of $101.80 million during the quarter, compared to analyst estimates of $102.46 million. Neogen had a return on equity of 10.72% and a net margin of 13.47%. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 EPS. analysts predict that Neogen will post 1.06 earnings per share for the current year.
In other Neogen news, CFO Steven J. Quinlan sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $80.26, for a total value of $321,040.00. Following the completion of the sale, the chief financial officer now owns 14,103 shares in the company, valued at $1,131,906.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James L. Herbert sold 26,000 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $81.45, for a total value of $2,117,700.00. Following the transaction, the insider now directly owns 879,430 shares in the company, valued at $71,629,573.50. The disclosure for this sale can be found here. Insiders sold 47,824 shares of company stock valued at $3,870,364 in the last quarter. Corporate insiders own 4.20% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp increased its stake in shares of Neogen by 4.8% during the second quarter. State Street Corp now owns 949,434 shares of the company’s stock valued at $65,613,000 after buying an additional 43,496 shares during the period. Nationwide Fund Advisors grew its stake in Neogen by 3.2% in the third quarter. Nationwide Fund Advisors now owns 386,921 shares of the company’s stock worth $29,971,000 after purchasing an additional 11,909 shares during the period. Fairfield Bush & CO. grew its stake in Neogen by 4.6% in the second quarter. Fairfield Bush & CO. now owns 86,570 shares of the company’s stock worth $5,983,000 after purchasing an additional 3,845 shares during the period. Fred Alger Management Inc. grew its stake in Neogen by 13.8% in the second quarter. Fred Alger Management Inc. now owns 443,000 shares of the company’s stock worth $30,616,000 after purchasing an additional 53,745 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. grew its stake in Neogen by 41.0% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,600 shares of the company’s stock worth $666,000 after purchasing an additional 2,500 shares during the period. 64.48% 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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