Equities research analysts at Roth Capital assumed coverage on shares of Neogen (NASDAQ:NEOG) in a note issued to investors on Tuesday. The brokerage set a “neutral” rating and a $82.00 price target on the stock. Roth Capital’s target price would indicate a potential downside of 0.15% from the stock’s current price.
NEOG has been the subject of several other reports. Zacks Investment Research downgraded Neogen from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. BidaskClub raised Neogen from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th.
Neogen (NASDAQ:NEOG) opened at $82.12 on Tuesday. Neogen has a 52 week low of $59.51 and a 52 week high of $85.89. The company has a market capitalization of $3,116.89, a price-to-earnings ratio of 68.56, a P/E/G ratio of 4.15 and a beta of 1.54.
Neogen (NASDAQ:NEOG) last posted its quarterly earnings data on Tuesday, September 19th. The company reported $0.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.01. Neogen had a return on equity of 9.93% and a net margin of 12.28%. The firm had revenue of $95.30 million during the quarter, compared to the consensus estimate of $94.87 million. During the same period in the prior year, the company earned $0.26 EPS. The firm’s revenue was up 14.0% compared to the same quarter last year. research analysts anticipate that Neogen will post 1.31 EPS for the current year.
In other Neogen news, CFO Steven J. Quinlan sold 2,772 shares of the firm’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $73.54, for a total value of $203,852.88. Following the completion of the sale, the chief financial officer now directly owns 12,875 shares of the company’s stock, valued at approximately $946,827.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Edward Bradley sold 38,876 shares of the firm’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $71.28, for a total value of $2,771,081.28. Following the completion of the sale, the vice president now directly owns 83,712 shares of the company’s stock, valued at $5,966,991.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 186,662 shares of company stock valued at $14,271,286. 4.20% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NEOG. Conestoga Capital Advisors LLC grew its holdings in shares of Neogen by 20.2% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 958,784 shares of the company’s stock worth $74,267,000 after purchasing an additional 161,170 shares during the period. Wasatch Advisors Inc. purchased a new position in shares of Neogen during the 3rd quarter worth $11,016,000. Citadel Advisors LLC grew its holdings in shares of Neogen by 338.6% during the 3rd quarter. Citadel Advisors LLC now owns 143,553 shares of the company’s stock worth $11,120,000 after purchasing an additional 110,821 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Neogen by 32.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 372,276 shares of the company’s stock worth $25,728,000 after purchasing an additional 91,390 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Neogen by 71.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 194,552 shares of the company’s stock worth $13,445,000 after purchasing an additional 80,775 shares during the period. Institutional investors and hedge funds own 87.06% of the company’s stock.
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Neogen Company Profile
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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