Neogen (NASDAQ:NEOG) Announces Quarterly Earnings Results

Neogen (NASDAQ:NEOG) released its earnings results on Monday. The company reported $0.16 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.16, Briefing.com reports. Neogen had a return on equity of 7.67% and a net margin of 13.00%. The company had revenue of $128.30 million during the quarter, compared to analysts’ expectations of $121.20 million. During the same period in the prior year, the business posted $0.30 EPS. The business’s revenue was up 17.4% on a year-over-year basis.

Shares of NASDAQ NEOG opened at $41.69 on Wednesday. The firm’s 50-day moving average price is $43.21 and its two-hundred day moving average price is $34.57. Neogen has a 52-week low of $33.11 and a 52-week high of $48.85. The stock has a market capitalization of $4.48 billion, a P/E ratio of 72.50 and a beta of 0.51.

NEOG has been the subject of several research analyst reports. Zacks Investment Research downgraded shares of Neogen from a “buy” rating to a “hold” rating and set a $47.00 target price for the company. in a research report on Monday, September 6th. TheStreet raised Neogen from a “c” rating to a “b-” rating in a research report on Thursday, July 8th.

A hedge fund recently raised its stake in Neogen stock. Morgan Stanley lifted its stake in shares of Neogen Co. (NASDAQ:NEOG) by 392.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 529,834 shares of the company’s stock after purchasing an additional 422,284 shares during the quarter. Morgan Stanley owned about 0.49% of Neogen worth $24,394,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 92.00% of the company’s stock.

Neogen Company Profile

Neogen Corp. engages in the development, manufacture, and sale of products dedicated to food and animal safety. It operates through the following segments: Food Safety and Animal Safety. The Food Safety segment consists of diagnostic test kits and related products used by food producers and processors to detect harmful natural toxins, foodborne bacteria, allergens, drug residues, and levels of general sanitation.

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Earnings History for Neogen (NASDAQ:NEOG)

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