Neogen Corp. (NASDAQ:NEOG) has received a consensus broker rating score of 2.60 (Hold) from the five brokers that provide coverage for the stock, Zacks Investment Research reports. Four research analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company.
Brokers have set a 12-month consensus target price of $58.67 for the company and are forecasting that the company will post $0.28 earnings per share for the current quarter, according to Zacks. Zacks has also given Neogen Corp. an industry rank of 92 out of 265 based on the ratings given to related companies.
NEOG has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Neogen Corp. from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a report on Tuesday, September 27th. Craig Hallum upgraded Neogen Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, August 9th.
Shares of Neogen Corp. (NASDAQ:NEOG) opened at 63.03 on Wednesday. Neogen Corp. has a one year low of $43.79 and a one year high of $63.40. The firm’s 50-day moving average price is $55.77 and its 200 day moving average price is $55.11. The firm has a market cap of $2.38 billion, a P/E ratio of 64.32 and a beta of 1.50.
Neogen Corp. (NASDAQ:NEOG) last issued its earnings results on Tuesday, September 27th. The company reported $0.26 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.26. The business earned $83.65 million during the quarter. Neogen Corp. had a return on equity of 9.36% and a net margin of 11.25%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 earnings per share. Analysts predict that Neogen Corp. will post $1.12 EPS for the current year.
In other news, CEO James L. Herbert sold 36,000 shares of the business’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $61.00, for a total transaction of $2,196,000.00. Following the completion of the sale, the chief executive officer now owns 904,212 shares in the company, valued at $55,156,932. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Terri A. Morrical sold 9,600 shares of the business’s stock in a transaction that occurred on Thursday, September 29th. The shares were sold at an average price of $54.14, for a total value of $519,744.00. Following the sale, the vice president now owns 44,384 shares of the company’s stock, valued at approximately $2,402,949.76. The disclosure for this sale can be found here. Insiders own 4.70% of the company’s stock.
Several large investors have recently added to or reduced their stakes in NEOG. Henderson Group PLC increased its stake in Neogen Corp. by 57.6% in the second quarter. Henderson Group PLC now owns 573,997 shares of the company’s stock valued at $32,287,000 after buying an additional 209,783 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Neogen Corp. by 19.3% in the second quarter. PNC Financial Services Group Inc. now owns 1,159,937 shares of the company’s stock valued at $65,246,000 after buying an additional 187,756 shares during the period. BlackRock Fund Advisors increased its stake in shares of Neogen Corp. by 7.8% in the third quarter. BlackRock Fund Advisors now owns 2,529,639 shares of the company’s stock valued at $141,508,000 after buying an additional 183,014 shares during the period. Strs Ohio increased its stake in shares of Neogen Corp. by 1,827.6% in the second quarter. Strs Ohio now owns 111,800 shares of the company’s stock valued at $6,288,000 after buying an additional 106,000 shares during the period. Finally, Emerald Acquisition Ltd. bought a new stake in shares of Neogen Corp. during the second quarter valued at about $5,945,000. Hedge funds and other institutional investors own 86.09% of the company’s stock.
Neogen Corp. 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.