NEOG has been the subject of several other reports. Zacks Investment Research raised Neogen from a sell rating to a hold rating and set a $71.00 target price for the company in a report on Wednesday, November 27th. Stephens began coverage on Neogen in a report on Monday. They issued an overweight rating and a $88.00 target price for the company. Finally, Roth Capital reaffirmed a neutral rating on shares of Neogen in a report on Tuesday, December 31st. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Neogen presently has a consensus rating of Hold and a consensus target price of $79.00.
NEOG traded up $0.76 during midday trading on Thursday, reaching $72.76. 159,552 shares of the company were exchanged, compared to its average volume of 169,352. The company’s fifty day moving average price is $67.88 and its 200 day moving average price is $68.17. The company has a market cap of $3.84 billion, a price-to-earnings ratio of 63.82, a price-to-earnings-growth ratio of 6.08 and a beta of 1.35. Neogen has a one year low of $50.60 and a one year high of $79.83.
Neogen (NASDAQ:NEOG) last issued its quarterly earnings data on Monday, December 23rd. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). The company had revenue of $107.80 million for the quarter, compared to the consensus estimate of $109.93 million. Neogen had a return on equity of 9.17% and a net margin of 14.35%. The business’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.31 earnings per share. On average, sell-side analysts forecast that Neogen will post 1.17 EPS for the current year.
In related news, Director James L. Herbert sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $65.28, for a total value of $1,305,600.00. Following the transaction, the director now owns 200,105 shares in the company, valued at $13,062,854.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Jason Warren Lilly sold 7,107 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.75, for a total value of $517,034.25. Following the completion of the transaction, the vice president now owns 18,401 shares in the company, valued at approximately $1,338,672.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 179,757 shares of company stock valued at $12,117,546. 1.70% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. California Public Employees Retirement System lifted its position in shares of Neogen by 42.6% during the third quarter. California Public Employees Retirement System now owns 113,795 shares of the company’s stock worth $7,751,000 after acquiring an additional 34,015 shares in the last quarter. Metropolitan Life Insurance Co NY lifted its position in shares of Neogen by 3.7% during the third quarter. Metropolitan Life Insurance Co NY now owns 16,625 shares of the company’s stock worth $1,132,000 after acquiring an additional 598 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Neogen during the third quarter worth $68,000. Parametric Portfolio Associates LLC lifted its position in shares of Neogen by 12.3% during the third quarter. Parametric Portfolio Associates LLC now owns 175,543 shares of the company’s stock worth $11,956,000 after acquiring an additional 19,218 shares in the last quarter. Finally, Man Group plc lifted its position in shares of Neogen by 159.5% during the third quarter. Man Group plc now owns 156,315 shares of the company’s stock worth $10,647,000 after acquiring an additional 96,085 shares in the last quarter. Institutional investors and hedge funds own 91.81% of the company’s stock.
Neogen Company Profile
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.
Further Reading: Cost of Goods Sold (COGS)
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