Neogen Co. (NEOG) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of Neogen Co. (NASDAQ:NEOG) have been given an average rating of “Hold” by the six analysts that are covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $63.25.
A number of research firms have recently commented on NEOG. Stephens restated a “hold” rating and set a $62.00 price target on shares of Neogen in a research report on Wednesday. Zacks Investment Research downgraded shares of Neogen from a “hold” rating to a “sell” rating in a report on Friday, September 22nd. Craig Hallum lifted their price objective on shares of Neogen from $46.50 to $60.00 and gave the stock a “hold” rating in a report on Thursday, December 7th. Finally, Roth Capital assumed coverage on shares of Neogen in a report on Tuesday, December 5th. They set a “neutral” rating and a $61.50 price objective for the company.
Neogen (NASDAQ NEOG) traded down $0.30 on Wednesday, hitting $59.42. 141,200 shares of the stock were exchanged, compared to its average volume of 243,767. The stock has a market cap of $3,072.81, a price-to-earnings ratio of 59.12, a P/E/G ratio of 3.81 and a beta of 1.54. Neogen has a 12-month low of $44.63 and a 12-month high of $64.42.
Neogen (NASDAQ:NEOG) last released its quarterly earnings results on Wednesday, January 3rd. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. The firm had revenue of $101.80 million during 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 business’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.29 EPS. equities research analysts predict that Neogen will post 1.04 earnings per share for the current year.
In other news, CFO Steven J. Quinlan sold 4,000 shares of Neogen stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $80.26, for a total transaction of $321,040.00. Following the completion of the sale, the chief financial officer now directly owns 14,103 shares of the company’s stock, valued at approximately $1,131,906.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James L. Herbert sold 26,000 shares of Neogen stock in a transaction on Monday, November 13th. The stock was sold at an average price of $81.45, for a total transaction of $2,117,700.00. Following the sale, the insider now directly owns 879,430 shares of the company’s stock, valued at $71,629,573.50. The disclosure for this sale can be found here. Insiders have sold a total of 47,824 shares of company stock valued at $3,870,364 over the last ninety days. 4.20% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in Neogen in the second quarter worth $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 worth $159,000 after purchasing an additional 1,097 shares during the last quarter. Bell Bank bought a new stake in Neogen in the third quarter worth $201,000. Parametrica Management Ltd bought a new stake in Neogen in the third quarter worth $202,000. Finally, Victory Capital Management Inc. lifted its stake in Neogen by 17.5% in the second quarter. Victory Capital Management Inc. now owns 2,989 shares of the company’s stock worth $207,000 after purchasing an additional 446 shares during the last quarter. 86.96% of the stock is 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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