Neogen (NASDAQ:NEOG) released its quarterly earnings results on Tuesday. The company reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.01, Briefing.com reports. Neogen had a net margin of 16.35% and a return on equity of 12.29%. The business had revenue of $99.60 million for the quarter, compared to analysts’ expectations of $104.43 million. During the same period in the prior year, the firm earned $0.31 earnings per share. Neogen’s revenue was up 5.7% compared to the same quarter last year.
Shares of NEOG stock opened at $72.91 on Thursday. Neogen has a 52-week low of $54.09 and a 52-week high of $97.38. The company has a market capitalization of $3.87 billion, a price-to-earnings ratio of 58.81 and a beta of 1.36.
Several analysts have recently commented on NEOG shares. ValuEngine cut shares of Neogen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. BidaskClub cut shares of Neogen from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 20th. Craig Hallum increased their price target on shares of Neogen from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Wednesday, July 18th. Finally, Zacks Investment Research cut shares of Neogen from a “hold” rating to a “sell” rating in a research note on Thursday, May 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Neogen currently has an average rating of “Hold” and a consensus target price of $67.75.
In other Neogen news, CFO Steven J. Quinlan sold 3,600 shares of the firm’s stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $89.08, for a total value of $320,688.00. Following the transaction, the chief financial officer now directly owns 17,070 shares of the company’s stock, valued at $1,520,595.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Terri A. Morrical sold 7,200 shares of the firm’s stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $89.05, for a total transaction of $641,160.00. Following the completion of the transaction, the vice president now directly owns 44,575 shares in the company, valued at $3,969,403.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 281,450 shares of company stock worth $23,364,113. Insiders own 3.00% of the company’s stock.
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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