BidaskClub upgraded shares of Neogen (NASDAQ:NEOG) from a hold rating to a buy rating in a report issued on Friday.
NEOG has been the topic of several other reports. Roth Capital set a $62.00 price objective on shares of Neogen and gave the stock a hold rating in a report on Thursday, January 4th. Zacks Investment Research upgraded shares of Neogen from a hold rating to a strong-buy rating and set a $69.00 price objective on the stock in a report on Saturday, January 6th. Craig Hallum increased their price objective on shares of Neogen from $46.50 to $60.00 and gave the stock a hold rating in a report on Thursday, December 7th. Finally, Stephens reiterated a hold rating and set a $62.00 price objective on shares of Neogen in a report on Wednesday, January 10th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $63.25.
Shares of Neogen (NASDAQ NEOG) opened at $59.79 on Friday. Neogen has a 12 month low of $44.63 and a 12 month high of $64.42. The stock has a market cap of $3,080.54, a PE ratio of 59.49, a price-to-earnings-growth ratio of 3.70 and a beta of 1.46.
Neogen (NASDAQ:NEOG) last released its quarterly earnings results on Wednesday, January 3rd. The company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.07. The company had revenue of $101.80 million for the quarter, compared to analysts’ expectations of $102.46 million. Neogen had a net margin of 13.47% and a return on equity of 10.72%. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period last year, the company earned $0.29 EPS. research analysts predict that Neogen will post 1.08 EPS for the current year.
In other news, insider James L. Herbert sold 10,000 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $57.50, for a total transaction of $575,000.00. Following the transaction, the insider now directly owns 1,163,755 shares in the company, valued at approximately $66,915,912.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director G Bruce Papesh sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $59.72, for a total transaction of $358,320.00. Following the completion of the transaction, the director now owns 18,196 shares in the company, valued at approximately $1,086,665.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,825 shares of company stock worth $1,646,220. Insiders own 4.20% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Catalyst Capital Advisors LLC purchased a new position in Neogen in the fourth quarter valued at approximately $156,000. Bell Bank purchased a new position in Neogen in the third quarter valued at approximately $201,000. Parametrica Management Ltd purchased a new position in Neogen in the third quarter valued at approximately $202,000. Arcadia Investment Management Corp MI purchased a new position in Neogen in the third quarter valued at approximately $230,000. Finally, Stone Ridge Asset Management LLC purchased a new position in Neogen in the fourth quarter valued at approximately $241,000. Hedge funds and other institutional investors own 66.13% 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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