Shares of Neogen Co. (NASDAQ:NEOG) have been assigned an average recommendation of “Hold” from the six research firms that are currently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $63.25.
NEOG has been the topic of a number of analyst reports. BidaskClub downgraded Neogen from a “buy” rating to a “hold” rating in a research note on Thursday. Stephens reissued a “hold” rating and issued a $62.00 price target on shares of Neogen in a research note on Wednesday. Roth Capital set a $62.00 price target on Neogen and gave the company a “hold” rating in a research note on Thursday, January 4th. Zacks Investment Research raised Neogen from a “hold” rating to a “strong-buy” rating and set a $69.00 price target on the stock in a research note on Saturday, January 6th. Finally, Craig Hallum increased their price target on Neogen from $46.50 to $60.00 and gave the company a “hold” rating in a research note on Thursday, December 7th.
In other news, VP Edward Bradley sold 17,824 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $80.32, for a total value of $1,431,623.68. Following the transaction, the vice president now owns 27,212 shares of the company’s stock, valued at approximately $2,185,667.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider James L. Herbert sold 26,000 shares of the stock in a transaction on Monday, November 13th. The shares were sold at an average price of $81.45, for a total value of $2,117,700.00. Following the completion of the transaction, the insider now directly owns 879,430 shares in the company, valued at approximately $71,629,573.50. The disclosure for this sale can be found here. In the last three months, insiders sold 47,824 shares of company stock worth $3,870,364. 4.20% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in shares of Neogen in the 2nd quarter valued at $154,000. Riverhead Capital Management LLC increased its position in shares of Neogen by 91.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,297 shares of the company’s stock valued at $159,000 after buying an additional 1,097 shares in the last quarter. Bell Bank bought a new stake in shares of Neogen in the 3rd quarter valued at $201,000. Parametrica Management Ltd bought a new stake in shares of Neogen in the 3rd quarter valued at $202,000. Finally, Victory Capital Management Inc. increased its position in shares of Neogen by 17.5% in the 2nd quarter. Victory Capital Management Inc. now owns 2,989 shares of the company’s stock valued at $207,000 after buying an additional 446 shares in the last quarter. Institutional investors and hedge funds own 86.96% of the company’s stock.
Neogen (NEOG) traded down $0.08 during trading hours on Wednesday, reaching $59.12. The company’s stock had a trading volume of 155,989 shares, compared to its average volume of 172,271. Neogen has a 12-month low of $44.63 and a 12-month high of $64.42. The firm has a market cap of $3,050.14, a P/E ratio of 58.82, a price-to-earnings-growth ratio of 3.73 and a beta of 1.54.
Neogen (NASDAQ:NEOG) last posted its quarterly earnings data on Wednesday, January 3rd. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. Neogen had a return on equity of 10.72% and a net margin of 13.47%. The firm had revenue of $101.80 million for the quarter, compared to the consensus estimate of $102.46 million. During the same quarter in the prior year, the business earned $0.29 EPS. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. equities analysts predict that Neogen will post 1.06 earnings per share for the current fiscal 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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