FY2018 EPS Estimates for Neogen Corporation Boosted by Analyst (NEOG)
Neogen Corporation (NASDAQ:NEOG) – Research analysts at William Blair increased their FY2018 EPS estimates for Neogen Corporation in a research note issued to investors on Wednesday. William Blair analyst B. Weinstein now forecasts that the company will earn $1.31 per share for the year, up from their previous estimate of $1.27.
Neogen Corporation (NASDAQ:NEOG) last announced its quarterly earnings data on Tuesday, September 19th. The company reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.01. The firm had revenue of $95.30 million during the quarter, compared to analysts’ expectations of $94.87 million. Neogen Corporation had a return on equity of 9.93% and a net margin of 12.28%. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.26 EPS.
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Several other analysts have also weighed in on NEOG. Zacks Investment Research lowered Neogen Corporation from a “hold” rating to a “sell” rating in a research note on Friday. BidaskClub raised Neogen Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th. Finally, CL King initiated coverage on Neogen Corporation in a research note on Friday, July 14th. They set a “neutral” rating on the stock.
Shares of Neogen Corporation (NEOG) opened at 72.93 on Friday. The company has a market capitalization of $2.79 billion, a PE ratio of 61.29 and a beta of 1.51. The firm’s 50-day moving average price is $68.09 and its 200 day moving average price is $65.57. Neogen Corporation has a one year low of $50.53 and a one year high of $74.98.
In other news, VP Edward Bradley sold 5,000 shares of Neogen Corporation stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $66.33, for a total transaction of $331,650.00. Following the sale, the vice president now directly owns 86,512 shares of the company’s stock, valued at $5,738,340.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Steven J. Quinlan sold 4,000 shares of Neogen Corporation stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $68.68, for a total value of $274,720.00. Following the sale, the vice president now directly owns 14,103 shares in the company, valued at $968,594.04. The disclosure for this sale can be found here. Insiders have sold 72,209 shares of company stock worth $5,075,355 over the last three months. Insiders own 4.20% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Piedmont Investment Advisors LLC acquired a new stake in shares of Neogen Corporation during the second quarter valued at about $570,000. Sterling Capital Management LLC boosted its stake in shares of Neogen Corporation by 21.2% during the second quarter. Sterling Capital Management LLC now owns 19,005 shares of the company’s stock valued at $1,313,000 after purchasing an additional 3,330 shares in the last quarter. Fairfield Bush & CO. boosted its stake in shares of Neogen Corporation by 4.6% during the second quarter. Fairfield Bush & CO. now owns 86,570 shares of the company’s stock valued at $5,983,000 after purchasing an additional 3,845 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Neogen Corporation by 1.0% during the second quarter. The Manufacturers Life Insurance Company now owns 28,533 shares of the company’s stock valued at $1,972,000 after purchasing an additional 273 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Neogen Corporation 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 purchasing an additional 43,496 shares in the last quarter. 86.10% of the stock is currently owned by hedge funds and other institutional investors.
About Neogen Corporation
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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