Zacks: Neogen Corporation (NEOG) Given Average Recommendation of “Hold” by Analysts
Shares of Neogen Corporation (NASDAQ:NEOG) have been assigned a consensus broker rating score of 3.00 (Hold) from the six brokers that provide coverage for the stock, Zacks Investment Research reports. Six investment analysts have rated the stock with a hold recommendation.
Brokerages have set a twelve-month consensus price objective of $69.00 for the company and are anticipating that the company will post $0.34 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Neogen Corporation an industry rank of 79 out of 265 based on the ratings given to related companies.
A number of equities research analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Neogen Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. CL King assumed coverage on shares of Neogen Corporation in a research report on Friday, July 14th. They set a “neutral” rating on the stock. Finally, BidaskClub upgraded shares of Neogen Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 30th.
Shares of Neogen Corporation (NASDAQ:NEOG) traded up 2.51% during mid-day trading on Wednesday, hitting $78.80. The stock had a trading volume of 102,284 shares. The stock’s 50-day moving average is $74.31 and its 200 day moving average is $67.32. Neogen Corporation has a 1-year low of $50.53 and a 1-year high of $79.99. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 66.22 and a beta of 1.52.
Neogen Corporation (NASDAQ:NEOG) last announced its quarterly earnings data on Tuesday, September 19th. The company reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.01. The business had revenue of $95.30 million for the quarter, compared to analysts’ expectations of $94.87 million. Neogen Corporation had a net margin of 12.28% and a return on equity of 9.93%. The business’s revenue was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.26 earnings per share. Equities research analysts predict that Neogen Corporation will post $1.32 EPS for the current fiscal year.
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In related news, Director James P. Tobin bought 500 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was bought at an average cost of $64.64 per share, with a total value of $32,320.00. Following the completion of the purchase, the director now owns 3,200 shares of the company’s stock, valued at approximately $206,848. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronald D. Green sold 4,333 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $68.49, for a total transaction of $296,767.17. Following the transaction, the director now directly owns 3,333 shares of the company’s stock, valued at $228,277.17. The disclosure for this sale can be found here. Insiders have sold a total of 153,543 shares of company stock worth $11,418,768 over the last 90 days. Insiders own 4.20% of the company’s stock.
Large investors have recently modified their holdings of the business. Teacher Retirement System of Texas purchased a new position in shares of Neogen Corporation in the 2nd quarter worth $209,000. Schwab Charles Investment Management Inc. grew its stake in shares of Neogen Corporation by 5.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 154,157 shares of the company’s stock worth $10,105,000 after buying an additional 8,184 shares in the last quarter. State Street Corp grew its stake in shares of Neogen Corporation by 8.9% in the 1st quarter. State Street Corp now owns 905,938 shares of the company’s stock worth $59,385,000 after buying an additional 73,771 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of Neogen Corporation by 78.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,526 shares of the company’s stock worth $520,000 after buying an additional 3,316 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its stake in shares of Neogen Corporation by 19.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 20,838 shares of the company’s stock worth $1,366,000 after buying an additional 3,330 shares in the last quarter. 86.12% of the stock is owned by institutional investors and hedge funds.
Neogen Corporation 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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