Equities research analysts predict that Neogen Co. (NASDAQ:NEOG) will report $97.28 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Neogen’s earnings, with the highest sales estimate coming in at $98.50 million and the lowest estimate coming in at $96.12 million. Neogen posted sales of $88.39 million in the same quarter last year, which would indicate a positive year over year growth rate of 10.1%. The company is scheduled to announce its next earnings results before the market opens on Thursday, March 22nd.
On average, analysts expect that Neogen will report full-year sales of $97.28 million for the current fiscal year, with estimates ranging from $398.75 million to $402.90 million. For the next fiscal year, analysts anticipate that the business will post sales of $440.00 million per share, with estimates ranging from $435.86 million to $445.30 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Neogen.
Neogen (NASDAQ:NEOG) last released its quarterly earnings results on Wednesday, January 3rd. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.26 by $0.07. The firm had revenue of $101.80 million during the quarter, compared to the consensus estimate of $102.46 million. Neogen had a net margin of 13.47% and a return on equity of 10.72%. Neogen’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.29 EPS.
In other news, insider James L. Herbert sold 25,334 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $59.32, for a total transaction of $1,502,812.88. Following the transaction, the insider now directly owns 1,157,591 shares of the company’s stock, valued at approximately $68,668,298.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Edward Bradley sold 11,725 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $60.29, for a total transaction of $706,900.25. Following the transaction, the vice president now directly owns 21,412 shares in the company, valued at $1,290,929.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,382 shares of company stock worth $3,939,913. Corporate insiders own 4.20% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Louisiana State Employees Retirement System grew its stake in shares of Neogen by 5.8% during the 4th quarter. Louisiana State Employees Retirement System now owns 16,400 shares of the company’s stock worth $1,348,000 after purchasing an additional 900 shares during the period. Prudential Financial Inc. grew its stake in shares of Neogen by 1.5% during the 3rd quarter. Prudential Financial Inc. now owns 65,445 shares of the company’s stock worth $5,069,000 after purchasing an additional 970 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Neogen by 3.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 33,512 shares of the company’s stock worth $2,596,000 after purchasing an additional 979 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in shares of Neogen by 4.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 25,764 shares of the company’s stock worth $1,996,000 after purchasing an additional 1,109 shares during the period. Finally, Cookson Peirce & Co. Inc. boosted its position in shares of Neogen by 24.8% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 6,250 shares of the company’s stock worth $514,000 after buying an additional 1,240 shares in the last quarter. 66.49% of the stock is currently owned by institutional investors and hedge funds.
Shares of Neogen (NEOG) traded up $0.68 on Wednesday, reaching $62.30. 37,095 shares of the company’s stock traded hands, compared to its average volume of 171,572. The firm has a market cap of $3,114.54, a PE ratio of 61.31, a P/E/G ratio of 3.75 and a beta of 1.42. Neogen has a 12 month low of $44.63 and a 12 month high of $64.42.
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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