Brokers Offer Predictions for Neogen Co.’s FY2024 Earnings (NASDAQ:NEOG)

Neogen Co. (NASDAQ:NEOG) – Equities researchers at Zacks Research lowered their FY2024 earnings per share (EPS) estimates for shares of Neogen in a report issued on Tuesday, April 30th. Zacks Research analyst R. Department now expects that the company will post earnings per share of $0.46 for the year, down from their previous forecast of $0.54. The consensus estimate for Neogen’s current full-year earnings is $0.50 per share. Zacks Research also issued estimates for Neogen’s Q4 2024 earnings at $0.12 EPS, Q1 2025 earnings at $0.13 EPS, Q2 2025 earnings at $0.14 EPS, Q3 2025 earnings at $0.16 EPS, Q4 2025 earnings at $0.14 EPS and FY2025 earnings at $0.57 EPS.

Separately, Piper Sandler decreased their price target on Neogen from $19.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, April 15th.

Neogen Stock Down 0.6 %

NEOG opened at $12.25 on Thursday. Neogen has a fifty-two week low of $11.46 and a fifty-two week high of $24.09. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.66 and a current ratio of 3.82. The company has a market capitalization of $2.65 billion, a P/E ratio of 1,226.23 and a beta of 1.18. The stock has a fifty day moving average of $14.71 and a 200-day moving average of $16.30.

Neogen (NASDAQ:NEOG) last posted its earnings results on Tuesday, April 9th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). Neogen had a return on equity of 3.35% and a net margin of 0.17%. The firm had revenue of $228.80 million for the quarter, compared to analyst estimates of $230.01 million. During the same period in the prior year, the business posted $0.12 EPS. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year.

Insider Buying and Selling at Neogen

In other Neogen news, Director James C. Borel bought 7,500 shares of the firm’s stock in a transaction on Thursday, April 11th. The shares were purchased at an average price of $13.06 per share, for a total transaction of $97,950.00. Following the completion of the transaction, the director now directly owns 21,392 shares in the company, valued at approximately $279,379.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO Douglas Edward Jones purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were purchased at an average cost of $12.36 per share, with a total value of $123,600.00. Following the completion of the purchase, the chief operating officer now owns 46,131 shares of the company’s stock, valued at approximately $570,179.16. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James C. Borel purchased 7,500 shares of the business’s stock in a transaction dated Thursday, April 11th. The shares were purchased at an average cost of $13.06 per share, for a total transaction of $97,950.00. Following the completion of the purchase, the director now directly owns 21,392 shares of the company’s stock, valued at approximately $279,379.52. The disclosure for this purchase can be found here. Insiders have acquired a total of 53,000 shares of company stock worth $662,205 over the last 90 days. Insiders own 0.71% of the company’s stock.

Institutional Trading of Neogen

Hedge funds have recently made changes to their positions in the company. Mackenzie Financial Corp boosted its stake in shares of Neogen by 9.3% during the fourth quarter. Mackenzie Financial Corp now owns 5,868,784 shares of the company’s stock valued at $118,021,000 after purchasing an additional 497,856 shares in the last quarter. FMR LLC lifted its stake in shares of Neogen by 0.9% in the third quarter. FMR LLC now owns 1,915,751 shares of the company’s stock worth $35,518,000 after acquiring an additional 16,414 shares during the period. Inspire Investing LLC lifted its stake in shares of Neogen by 99.3% in the third quarter. Inspire Investing LLC now owns 33,979 shares of the company’s stock worth $630,000 after acquiring an additional 16,930 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Neogen by 77.3% in the fourth quarter. Pacer Advisors Inc. now owns 29,849 shares of the company’s stock worth $600,000 after acquiring an additional 13,013 shares during the period. Finally, Fifth Third Bancorp lifted its stake in shares of Neogen by 194.2% in the fourth quarter. Fifth Third Bancorp now owns 29,326 shares of the company’s stock worth $590,000 after acquiring an additional 19,359 shares during the period. 96.73% of the stock is owned by institutional investors and hedge funds.

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.