BidaskClub lowered shares of Neogen (NASDAQ:NEOG) from a buy rating to a hold rating in a report published on Thursday, January 11th.
Several other research analysts have also weighed in on the stock. Stephens reiterated a hold rating and set a $62.00 price objective on shares of Neogen in a report on Wednesday, January 10th. Zacks Investment Research upgraded shares of Neogen from a hold rating to a strong-buy rating and set a $69.00 price target on the stock in a report on Saturday, January 6th. Roth Capital set a $62.00 price target on shares of Neogen and gave the company a hold rating in a report on Thursday, January 4th. Finally, Craig Hallum raised their price target on shares of Neogen from $46.50 to $60.00 and gave the company a hold rating in a report on Thursday, December 7th. Five equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $63.25.
Shares of Neogen (NEOG) traded down $0.08 during midday trading on Thursday, reaching $59.10. 164,584 shares of the company were exchanged, compared to its average volume of 165,081. The firm has a market cap of $3,040.00, a PE ratio of 59.10, a price-to-earnings-growth ratio of 3.59 and a beta of 1.46. Neogen has a 12-month low of $44.63 and a 12-month high of $64.42.
Neogen (NASDAQ:NEOG) last released its earnings results on Wednesday, January 3rd. The company reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.07. The company had revenue of $101.80 million for the quarter, compared to analyst estimates of $102.46 million. Neogen had a net margin of 13.47% and a return on equity of 10.72%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.29 EPS. sell-side analysts anticipate that Neogen will post 1.1 EPS for the current year.
In other Neogen news, insider James L. Herbert sold 26,000 shares of Neogen stock in a transaction 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 completion of the transaction, the insider now owns 879,430 shares of the company’s stock, valued at $71,629,573.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Edward Bradley sold 17,824 shares of Neogen stock in a transaction on Friday, November 17th. The stock was sold at an average price of $80.32, for a total transaction of $1,431,623.68. Following the completion of the transaction, the vice president now directly owns 27,212 shares of the company’s stock, valued at approximately $2,185,667.84. The disclosure for this sale can be found here. Insiders have sold 61,649 shares of company stock valued at $4,620,544 in the last three months. Corporate insiders own 4.20% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC bought a new stake in Neogen in the second quarter valued at $154,000. Riverhead Capital Management LLC lifted its stake in Neogen by 91.4% in the second quarter. Riverhead Capital Management LLC now owns 2,297 shares of the company’s stock valued at $159,000 after buying an additional 1,097 shares during the last quarter. Bell Bank bought a new stake in Neogen in the third quarter valued at $201,000. Parametrica Management Ltd bought a new stake in shares of Neogen during the third quarter valued at about $202,000. Finally, Arcadia Investment Management Corp MI bought a new stake in shares of Neogen during the third quarter valued at about $230,000. Institutional investors own 66.49% 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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