Neogen Corporation (NEOG) Issues Quarterly Earnings Results
Neogen Corporation (NASDAQ:NEOG) issued its quarterly earnings data on Tuesday. The company reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.01, Bloomberg Earnings reports. Neogen Corporation had a net margin of 12.11% and a return on equity of 9.87%.
Shares of Neogen Corporation (NEOG) traded down 1.829% on Tuesday, reaching $72.715. 41,405 shares of the company’s stock traded hands. The stock has a 50-day moving average of $67.93 and a 200 day moving average of $65.53. Neogen Corporation has a 12-month low of $50.53 and a 12-month high of $74.98. The firm has a market cap of $2.78 billion, a P/E ratio of 63.785 and a beta of 1.51.
Several brokerages have commented on NEOG. BidaskClub upgraded shares of Neogen Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, June 30th. CL King began coverage on shares of Neogen Corporation in a report on Friday, July 14th. They issued a “neutral” rating for the company. Finally, Zacks Investment Research upgraded shares of Neogen Corporation from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a report on Thursday, July 20th.
In other Neogen Corporation news, Director James P. Tobin bought 500 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were acquired at an average price of $64.64 per share, with a total value of $32,320.00. Following the transaction, the director now owns 3,200 shares of the company’s stock, valued at $206,848. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Edward Bradley sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $66.33, for a total value of $331,650.00. Following the sale, the vice president now directly owns 86,512 shares in the company, valued at approximately $5,738,340.96. The disclosure for this sale can be found here. Insiders sold a total of 33,333 shares of company stock valued at $2,304,273 in the last quarter. Company insiders own 4.20% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of NEOG. SG Americas Securities LLC acquired a new stake in shares of Neogen Corporation during the 2nd quarter worth about $154,000. Riverhead Capital Management LLC raised its position in shares of Neogen Corporation by 91.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,297 shares of the company’s stock worth $159,000 after acquiring an additional 1,097 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Neogen Corporation by 53.0% during the 1st quarter. Victory Capital Management Inc. now owns 2,543 shares of the company’s stock worth $167,000 after acquiring an additional 881 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Neogen Corporation during the 2nd quarter worth about $209,000. Finally, Creative Planning raised its position in shares of Neogen Corporation by 1.3% during the 2nd quarter. Creative Planning now owns 3,478 shares of the company’s stock worth $240,000 after acquiring an additional 46 shares in the last quarter. 86.10% of the stock is currently owned by institutional investors and hedge funds.
About Neogen Corporation
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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