Neogen Corporation (NASDAQ:NEOG) has earned an average broker rating score of 3.00 (Hold) from the seven brokers that provide coverage for the stock, Zacks Investment Research reports. Seven investment analysts have rated the stock with a hold rating.
Analysts have set a 12 month consensus target price of $72.25 for the company and are anticipating that the company will post $0.34 EPS for the current quarter, according to Zacks. Zacks has also given Neogen an industry rank of 176 out of 265 based on the ratings given to related companies.
A number of brokerages have recently commented on NEOG. Zacks Investment Research cut Neogen from a “buy” rating to a “hold” rating in a research report on Wednesday. BidaskClub raised Neogen from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Finally, Roth Capital started coverage on Neogen in a report on Tuesday. They set a “neutral” rating and a $82.00 price objective on the stock.
Neogen (NASDAQ:NEOG) last issued its quarterly earnings results on Tuesday, September 19th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. Neogen had a return on equity of 9.93% and a net margin of 12.28%. The firm had revenue of $95.30 million for the quarter, compared to analysts’ expectations of $94.87 million. During the same quarter in the prior year, the firm earned $0.26 EPS. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. equities analysts predict that Neogen will post 1.31 earnings per share for the current year.
In related news, CFO Steven J. Quinlan sold 2,250 shares of the stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $78.52, for a total transaction of $176,670.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Edward Bradley sold 17,824 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $80.32, for a total value of $1,431,623.68. Following the sale, the vice president now directly owns 27,212 shares in the company, valued at approximately $2,185,667.84. 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 in the last three months. 4.20% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of NEOG. Conestoga Capital Advisors LLC lifted its holdings in Neogen by 20.2% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 958,784 shares of the company’s stock worth $74,267,000 after purchasing an additional 161,170 shares in the last quarter. Wasatch Advisors Inc. bought a new position in Neogen in the 3rd quarter worth about $11,016,000. Citadel Advisors LLC increased its stake in Neogen by 338.6% in the 3rd quarter. Citadel Advisors LLC now owns 143,553 shares of the company’s stock worth $11,120,000 after acquiring an additional 110,821 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Neogen by 32.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 372,276 shares of the company’s stock worth $25,728,000 after acquiring an additional 91,390 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Neogen by 71.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 194,552 shares of the company’s stock worth $13,445,000 after acquiring an additional 80,775 shares during the last quarter. 87.06% of the stock is currently owned by institutional investors and hedge funds.
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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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