Neogen (NASDAQ:NEOG) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Neogen (NASDAQ:NEOG) announced its earnings results on Tuesday. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02), Briefing.com reports. The business had revenue of $228.80 million for the quarter, compared to analyst estimates of $230.01 million. Neogen had a return on equity of 3.35% and a net margin of 1.28%. The business’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.12 EPS. Neogen updated its FY 2024 guidance to EPS.

Neogen Price Performance

Neogen stock opened at $13.04 on Wednesday. Neogen has a 1 year low of $12.57 and a 1 year high of $24.09. The firm has a 50 day moving average price of $15.98 and a 200 day moving average price of $16.83. The company has a market cap of $2.82 billion, a price-to-earnings ratio of 217.37 and a beta of 1.13. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.63 and a current ratio of 3.54.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lifted their target price on shares of Neogen from $17.50 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, January 18th.

Institutional Investors Weigh In On Neogen

Institutional investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC purchased a new stake in Neogen during the first quarter worth approximately $29,000. O Dell Group LLC purchased a new stake in Neogen during the fourth quarter worth approximately $37,000. State of Tennessee Treasury Department purchased a new stake in Neogen during the first quarter worth approximately $45,000. First Manhattan CO. LLC. purchased a new stake in Neogen during the first quarter worth approximately $68,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Neogen during the first quarter worth $71,000. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

Neogen Company Profile

Neogen Corporation, together with its subsidiaries, engages in the development, manufacture, and marketing of various products and services dedicated to food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment offers diagnostic test kits and related products to detect dangerous and unintended substances in food and animal feed, including 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 to detect the presence of adenosine triphosphate, a chemical found in living cells, as well as provides genomics-based diagnostic technology and software systems that help testers to objectively analyze and store their results and perform analysis on the results from multiple locations over extended periods.