Neogen (NEOG) Price Target Increased to $80.00 by Analysts at Craig Hallum
Neogen (NASDAQ:NEOG) had its price objective boosted by equities researchers at Craig Hallum from $62.00 to $80.00 in a research report issued to clients and investors on Thursday. The brokerage presently has a “hold” rating on the stock. Craig Hallum’s price objective would suggest a potential downside of 2.58% from the company’s current price.
A number of other equities research analysts have also weighed in on NEOG. BidaskClub upgraded shares of Neogen from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Zacks Investment Research lowered shares of Neogen from a “buy” rating to a “hold” rating in a report on Friday, August 18th. Finally, Roth Capital initiated coverage on shares of Neogen in a report on Tuesday. They issued a “neutral” rating and a $82.00 price objective on the stock. Five analysts have rated the stock with a hold rating, Neogen currently has an average rating of “Hold” and an average price target of $85.00.
Neogen (NASDAQ:NEOG) traded up $0.53 during trading on Thursday, reaching $82.12. 105,200 shares of the company’s stock were exchanged, compared to its average volume of 110,820. The firm has a market cap of $3,116.89, a price-to-earnings ratio of 68.56, a PEG ratio of 4.15 and a beta of 1.54. Neogen has a 12 month low of $59.51 and a 12 month high of $85.89.
Neogen (NASDAQ:NEOG) last announced its quarterly earnings data on Tuesday, September 19th. The company reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.01. Neogen had a net margin of 12.28% and a return on equity of 9.93%. The business had revenue of $95.30 million for the quarter, compared to analyst estimates of $94.87 million. During the same period last year, the business earned $0.26 EPS. The company’s revenue was up 14.0% on a year-over-year basis. analysts anticipate that Neogen will post 1.31 EPS for the current fiscal year.
In other Neogen news, VP Edward Bradley sold 38,876 shares of the firm’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $71.28, for a total transaction of $2,771,081.28. Following the transaction, the vice president now directly owns 83,712 shares of the company’s stock, valued at approximately $5,966,991.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven J. Quinlan sold 2,772 shares of the firm’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $73.54, for a total transaction of $203,852.88. Following the transaction, the chief financial officer now directly owns 12,875 shares in the company, valued at $946,827.50. The disclosure for this sale can be found here. Insiders have sold a total of 186,662 shares of company stock worth $14,271,286 over the last quarter. 4.20% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the business. Teacher Retirement System of Texas purchased a new position in Neogen during the 2nd quarter worth $209,000. State Street Corp boosted its stake in shares of Neogen by 4.8% in 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 during the period. Fairfield Bush & CO. boosted its stake in shares of Neogen by 4.6% in 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 during the period. BNP Paribas Arbitrage SA boosted its stake in shares of Neogen by 56.0% in the second quarter. BNP Paribas Arbitrage SA now owns 12,414 shares of the company’s stock valued at $858,000 after purchasing an additional 4,455 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of Neogen by 55.7% in the second quarter. Russell Investments Group Ltd. now owns 32,533 shares of the company’s stock valued at $2,249,000 after purchasing an additional 11,638 shares during the period. 87.06% of the stock is currently owned by 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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