Analysts expect Neogen Co. (NASDAQ:NEOG) to report $105.07 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Neogen’s earnings, with the highest sales estimate coming in at $105.80 million and the lowest estimate coming in at $104.60 million. Neogen posted sales of $99.63 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.5%. The company is expected to report its next quarterly earnings results on Tuesday, September 24th.
On average, analysts expect that Neogen will report full year sales of $438.70 million for the current year, with estimates ranging from $436.10 million to $441.50 million. For the next financial year, analysts anticipate that the company will report sales of $469.00 million, with estimates ranging from $464.00 million to $474.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Neogen.
Neogen (NASDAQ:NEOG) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. Neogen had a return on equity of 9.86% and a net margin of 14.53%. The company had revenue of $109.80 million during the quarter, compared to analysts’ expectations of $110.14 million. During the same period last year, the business posted $0.33 earnings per share. The firm’s revenue was up 1.6% compared to the same quarter last year.
Several research analysts have recently issued reports on NEOG shares. Guggenheim started coverage on Neogen in a research note on Thursday, May 23rd. They issued a “neutral” rating for the company. Zacks Investment Research cut Neogen from a “hold” rating to a “sell” rating and set a $68.00 price objective for the company. in a research note on Friday, June 21st. Craig Hallum raised their price objective on Neogen from $72.00 to $78.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 24th. ValuEngine upgraded Neogen from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, BidaskClub upgraded Neogen from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $73.00.
In related news, CEO John Edward Adent sold 31,489 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $69.03, for a total transaction of $2,173,685.67. Following the sale, the chief executive officer now directly owns 44,302 shares of the company’s stock, valued at $3,058,167.06. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jack C. Parnell sold 5,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $69.59, for a total value of $347,950.00. Following the sale, the director now directly owns 531,454 shares in the company, valued at $36,983,883.86. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 156,198 shares of company stock valued at $10,158,539. Company insiders own 3.00% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Bridge City Capital LLC grew its holdings in Neogen by 0.5% during the second quarter. Bridge City Capital LLC now owns 31,541 shares of the company’s stock worth $1,959,000 after acquiring an additional 154 shares during the period. Private Capital Group LLC grew its holdings in Neogen by 16.0% during the second quarter. Private Capital Group LLC now owns 1,208 shares of the company’s stock worth $97,000 after acquiring an additional 167 shares during the period. Creative Planning grew its holdings in Neogen by 2.4% during the first quarter. Creative Planning now owns 7,554 shares of the company’s stock worth $434,000 after acquiring an additional 174 shares during the period. State of Alaska Department of Revenue grew its holdings in Neogen by 1.1% in the second quarter. State of Alaska Department of Revenue now owns 17,740 shares of the company’s stock valued at $1,101,000 after purchasing an additional 189 shares during the period. Finally, Captrust Financial Advisors grew its holdings in Neogen by 20.0% in the second quarter. Captrust Financial Advisors now owns 1,135 shares of the company’s stock valued at $70,000 after purchasing an additional 189 shares during the period. 88.13% of the stock is currently owned by hedge funds and other institutional investors.
Neogen stock traded up $2.35 during midday trading on Monday, reaching $70.96. The company’s stock had a trading volume of 133,300 shares, compared to its average volume of 268,354. Neogen has a 52-week low of $50.60 and a 52-week high of $97.38. The stock has a market capitalization of $3.58 billion, a P/E ratio of 61.70, a PEG ratio of 5.61 and a beta of 1.38. The stock’s 50-day simple moving average is $66.20 and its 200-day simple moving average is $61.43.
Neogen Company Profile
Neogen Corporation, together with its subsidiaries, develops, manufactures, and markets various products for food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment primarily offers diagnostic test kits and complementary to detect dangerous and/or unintended substances in human food and animal feed, such as foodborne pathogens, spoilage organisms, natural toxins, food allergens, genetic modifications, ruminant by-products, meat speciation, drug residues, pesticide residues, and general sanitation concerns; and AccuPoint Advanced rapid sanitation test for adenosine triphosphate, a chemical found in living cells.
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