Wall Street analysts expect that Neogen Co. (NASDAQ:NEOG) will report sales of $97.28 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Neogen’s earnings, with the highest sales estimate coming in at $98.50 million and the lowest estimate coming in at $96.12 million. Neogen reported sales of $88.39 million in the same quarter last year, which suggests a positive year over year growth rate of 10.1%. The business is scheduled to report its next quarterly earnings results on Tuesday, March 20th.
According to Zacks, analysts expect that Neogen will report full year sales of $97.28 million for the current year, with estimates ranging from $398.75 million to $402.90 million. For the next financial year, analysts expect that the business will post sales of $440.00 million per share, with estimates ranging from $435.86 million to $445.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Neogen.
Neogen (NASDAQ:NEOG) last announced its quarterly 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. Neogen had a return on equity of 10.72% and a net margin of 13.47%. The business had revenue of $101.80 million for the quarter, compared to the consensus estimate of $102.46 million. During the same period last year, the business posted $0.29 EPS. The business’s revenue was up 12.2% compared to the same quarter last year.
A number of research analysts have recently issued reports on the company. BidaskClub downgraded Neogen from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Stephens reiterated a “hold” rating and issued a $62.00 price target on shares of Neogen in a report on Wednesday, January 10th. Zacks Investment Research downgraded Neogen from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 15th. Craig Hallum lifted their price target on Neogen from $46.50 to $60.00 and gave the company a “hold” rating in a report on Thursday, December 7th. Finally, Roth Capital assumed coverage on Neogen in a report on Tuesday, December 5th. They issued a “neutral” rating and a $61.50 price target on the stock. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $63.25.
Shares of Neogen (NEOG) traded down $0.84 during trading hours on Friday, hitting $58.95. The stock had a trading volume of 206,600 shares, compared to its average volume of 181,017. Neogen has a twelve month low of $44.63 and a twelve month high of $64.42. The stock has a market cap of $3,080.54, a P/E ratio of 58.65, a PEG ratio of 3.70 and a beta of 1.46.
In related news, insider James L. Herbert sold 10,000 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $57.50, for a total transaction of $575,000.00. Following the transaction, the insider now directly owns 1,163,755 shares in the company, valued at approximately $66,915,912.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director G Bruce Papesh sold 6,000 shares of the business’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $59.72, for a total value of $358,320.00. Following the transaction, the director now owns 18,196 shares in the company, valued at $1,086,665.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,825 shares of company stock worth $1,646,220. 4.20% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Catalyst Capital Advisors LLC purchased a new position in Neogen during the 4th quarter worth $156,000. Bell Bank purchased a new position in Neogen during the 3rd quarter worth $201,000. Parametrica Management Ltd purchased a new position in Neogen during the 3rd quarter worth $202,000. Arcadia Investment Management Corp MI purchased a new position in Neogen during the 3rd quarter worth $230,000. Finally, Stone Ridge Asset Management LLC purchased a new stake in Neogen during the 4th quarter valued at about $241,000. Hedge funds and other institutional investors own 66.13% of the company’s stock.
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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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