Zacks: Neogen Corporation (NEOG) Given Consensus Rating of “Hold” by Analysts
Shares of Neogen Corporation (NASDAQ:NEOG) have earned a consensus broker rating score of 3.00 (Hold) from the six analysts that provide coverage for the company, Zacks Investment Research reports. Six investment analysts have rated the stock with a hold recommendation.
Analysts have set a 12-month consensus target price of $69.00 for the company and are forecasting that the company will post $0.34 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Neogen an industry rank of 165 out of 265 based on the ratings given to related companies.
Several equities analysts have weighed in on NEOG shares. BidaskClub upgraded shares of Neogen from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. Zacks Investment Research cut shares of Neogen from a “buy” rating to a “hold” rating in a research report on Friday, August 18th.
In other Neogen news, CFO Steven J. Quinlan sold 2,772 shares of the business’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $73.54, for a total transaction of $203,852.88. Following the completion of the transaction, the chief financial officer now owns 12,875 shares of the company’s stock, valued at approximately $946,827.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Edward Bradley sold 17,824 shares of the business’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $80.32, for a total transaction of $1,431,623.68. Following the transaction, the vice president now directly owns 27,212 shares of the company’s stock, valued at approximately $2,185,667.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 193,034 shares of company stock worth $14,717,645. 4.20% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Conestoga Capital Advisors LLC raised its position in shares of Neogen by 20.2% during the third quarter. Conestoga Capital Advisors LLC now owns 958,784 shares of the company’s stock valued at $74,267,000 after buying an additional 161,170 shares during the last quarter. Wasatch Advisors Inc. acquired a new position in Neogen in the third quarter worth about $11,016,000. Citadel Advisors LLC raised its position in Neogen by 338.6% in the third quarter. Citadel Advisors LLC now owns 143,553 shares of the company’s stock worth $11,120,000 after purchasing an additional 110,821 shares in the last quarter. Ameriprise Financial Inc. raised its position in Neogen by 32.5% in the second quarter. Ameriprise Financial Inc. now owns 372,276 shares of the company’s stock worth $25,728,000 after purchasing an additional 91,390 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Neogen by 71.0% in the second quarter. Goldman Sachs Group Inc. now owns 194,552 shares of the company’s stock worth $13,445,000 after purchasing an additional 80,775 shares in the last quarter. 86.97% of the stock is owned by hedge funds and other institutional investors.
Shares of Neogen (NASDAQ:NEOG) traded down $0.11 during mid-day trading on Friday, reaching $83.79. The company’s stock had a trading volume of 108,912 shares, compared to its average volume of 86,704. The firm has a market capitalization of $3,200.95, a P/E ratio of 70.41, a P/E/G ratio of 4.26 and a beta of 1.54. Neogen has a 12 month low of $59.51 and a 12 month high of $84.71.
Neogen (NASDAQ:NEOG) last announced its earnings results on Tuesday, September 19th. The company reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.01. The firm had revenue of $95.30 million for the quarter, compared to analysts’ expectations of $94.87 million. Neogen had a return on equity of 9.93% and a net margin of 12.28%. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.26 earnings per share. analysts forecast that Neogen will post 1.31 EPS for the current year.
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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