Shares of Neogen Co. (NASDAQ:NEOG) have been assigned an average rating of “Hold” from the six ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $62.50.
A number of equities analysts have recently commented on NEOG shares. Zacks Investment Research downgraded shares of Neogen from a “hold” rating to a “sell” rating in a research note on Wednesday, December 5th. ValuEngine downgraded shares of Neogen from a “buy” rating to a “hold” rating in a research note on Wednesday, January 30th. Finally, BidaskClub upgraded shares of Neogen from a “sell” rating to a “hold” rating in a research note on Tuesday, November 13th.
In other news, Chairman James L. Herbert sold 2,748 shares of the firm’s stock in a transaction on Friday, November 23rd. The shares were sold at an average price of $60.51, for a total value of $166,281.48. Following the sale, the chairman now owns 742,576 shares in the company, valued at $44,933,273.76. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman James L. Herbert sold 45,334 shares of the firm’s stock in a transaction on Tuesday, January 22nd. The stock was sold at an average price of $60.06, for a total transaction of $2,722,760.04. Following the completion of the sale, the chairman now owns 761,818 shares in the company, valued at approximately $45,754,789.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 126,531 shares of company stock worth $7,638,736. 3.00% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of NEOG. Raymond James & Associates boosted its stake in Neogen by 48.1% during the second quarter. Raymond James & Associates now owns 7,348 shares of the company’s stock worth $589,000 after buying an additional 2,387 shares in the last quarter. Carlson Capital Management acquired a new stake in Neogen during the third quarter worth $306,000. Everence Capital Management Inc. boosted its stake in Neogen by 26.0% during the third quarter. Everence Capital Management Inc. now owns 3,973 shares of the company’s stock worth $284,000 after buying an additional 820 shares in the last quarter. MCF Advisors LLC acquired a new stake in Neogen during the third quarter worth $2,688,000. Finally, First Trust Advisors LP boosted its stake in Neogen by 33.6% during the third quarter. First Trust Advisors LP now owns 56,230 shares of the company’s stock worth $4,022,000 after buying an additional 14,152 shares in the last quarter. Hedge funds and other institutional investors own 92.25% of the company’s stock.
NASDAQ:NEOG opened at $62.11 on Thursday. Neogen has a 12 month low of $52.10 and a 12 month high of $97.38. The company has a market capitalization of $3.18 billion, a PE ratio of 51.33, a PEG ratio of 5.05 and a beta of 1.34.
Neogen (NASDAQ:NEOG) last released its quarterly earnings results on Thursday, December 20th. The company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.01. Neogen had a net margin of 15.88% and a return on equity of 11.45%. The company had revenue of $107.10 million for the quarter, compared to analyst estimates of $108.52 million. During the same quarter last year, the firm posted $0.33 earnings per share. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, sell-side analysts forecast that Neogen will post 1.21 EPS for the current year.
Neogen Corporation, together with its subsidiaries, develops, manufactures, and markets various products for food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment primarily offers diagnostic test kits and complementary to detect dangerous and/or unintended substances in human food and animal feed, such as 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 for adenosine triphosphate, a chemical found in living cells.
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