Stephens started coverage on shares of Neogen (NASDAQ:NEOG) in a research note released on Monday morning, BenzingaRatingsTable reports. The brokerage issued an overweight rating and a $88.00 price objective on the stock.
A number of other brokerages have also weighed in on NEOG. BidaskClub raised Neogen from a sell rating to a hold rating in a report on Wednesday, January 15th. Zacks Investment Research upgraded Neogen from a sell rating to a hold rating and set a $71.00 price objective for the company in a research note on Wednesday, November 27th. Finally, Roth Capital reaffirmed a neutral rating on shares of Neogen in a report on Tuesday, December 31st. Five equities research analysts have rated the stock with 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 $79.00.
Shares of NEOG traded up $0.78 during trading hours on Monday, reaching $72.78. 9,940 shares of the company traded hands, compared to its average volume of 169,607. The stock has a market capitalization of $3.82 billion, a P/E ratio of 63.82, a P/E/G ratio of 6.08 and a beta of 1.35. Neogen has a 12-month low of $50.60 and a 12-month high of $79.83. The business has a fifty day moving average price of $67.88 and a 200-day moving average price of $68.17.
Neogen (NASDAQ:NEOG) last released its earnings results on Monday, December 23rd. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.01). Neogen had a net margin of 14.35% and a return on equity of 9.17%. The firm had revenue of $107.80 million during the quarter, compared to analyst estimates of $109.93 million. During the same period in the previous year, the company earned $0.31 earnings per share. Neogen’s revenue was up .7% on a year-over-year basis. On average, analysts anticipate that Neogen will post 1.17 EPS for the current fiscal year.
In related news, Director James L. Herbert sold 30,000 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $69.64, for a total transaction of $2,089,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James L. Herbert sold 20,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $65.28, for a total transaction of $1,305,600.00. Following the transaction, the director now owns 200,105 shares of the company’s stock, valued at $13,062,854.40. The disclosure for this sale can be found here. Insiders sold 172,650 shares of company stock worth $11,600,512 in the last quarter. Company insiders own 1.70% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Texas Permanent School Fund lifted its holdings in shares of Neogen by 0.6% in the 4th quarter. Texas Permanent School Fund now owns 35,858 shares of the company’s stock valued at $2,340,000 after buying an additional 207 shares during the period. Quadrant Capital Group LLC grew its holdings in Neogen by 17.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,436 shares of the company’s stock worth $90,000 after acquiring an additional 215 shares during the period. Executive Wealth Management LLC raised its position in Neogen by 124.2% during the third quarter. Executive Wealth Management LLC now owns 509 shares of the company’s stock valued at $34,000 after acquiring an additional 282 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its position in Neogen by 2.1% during the fourth quarter. Municipal Employees Retirement System of Michigan now owns 16,030 shares of the company’s stock valued at $1,046,000 after acquiring an additional 330 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Neogen by 9.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,868 shares of the company’s stock valued at $263,000 after acquiring an additional 337 shares in the last quarter. Institutional investors and hedge funds own 91.81% 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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