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

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

Neogen Price Performance

NASDAQ:NEOG opened at $12.50 on Thursday. Neogen has a 12 month low of $12.18 and a 12 month high of $24.09. The company’s 50-day moving average price is $15.92 and its two-hundred day moving average price is $16.80. The firm has a market cap of $2.71 billion, a PE ratio of 208.37 and a beta of 1.13. The company has a quick ratio of 2.63, a current ratio of 3.54 and a debt-to-equity ratio of 0.28.

Analyst Upgrades and Downgrades

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

Insider Transactions at Neogen

In other Neogen news, CEO John Edward Adent purchased 23,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was acquired at an average cost of $12.36 per share, with a total value of $284,280.00. Following the completion of the purchase, the chief executive officer now directly owns 152,389 shares in the company, valued at approximately $1,883,528.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO John Edward Adent bought 23,000 shares of the stock in a transaction on Wednesday, April 10th. The stock was purchased at an average price of $12.36 per share, with a total value of $284,280.00. Following the completion of the purchase, the chief executive officer now owns 152,389 shares of the company’s stock, valued at $1,883,528.04. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO David H. Naemura bought 12,500 shares of the stock in a transaction on Wednesday, April 10th. The stock was purchased at an average cost of $12.51 per share, with a total value of $156,375.00. Following the purchase, the chief financial officer now directly owns 30,040 shares of the company’s stock, valued at approximately $375,800.40. The disclosure for this purchase can be found here. 0.71% of the stock is owned by company insiders.

Institutional Investors Weigh In On Neogen

Large investors have recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC acquired a new position in Neogen during the second quarter worth $207,000. Icon Wealth Advisors LLC acquired a new position in Neogen during the fourth quarter worth $203,000. KLR Investment Advisors LLC acquired a new position in Neogen during the first quarter worth $190,000. Advisory Services Network LLC acquired a new position in Neogen during the first quarter worth $188,000. Finally, SkyView Investment Advisors LLC acquired a new position in Neogen during the second quarter worth $152,000. Institutional investors own 96.73% of the company’s stock.

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.