Zacks: Analysts Set $69.00 Price Target for Neogen Corporation (NEOG)
Shares of Neogen Corporation (NASDAQ:NEOG) have earned an average broker rating score of 3.00 (Hold) from the six analysts that provide coverage for the stock, Zacks Investment Research reports. Six analysts have rated the stock with a hold rating.
Brokerages have set a one year consensus target price of $69.00 for the company and are forecasting that the company will post $0.34 EPS for the current quarter, according to Zacks. Zacks has also given Neogen Corporation an industry rank of 169 out of 265 based on the ratings given to its competitors.
A number of brokerages recently commented on NEOG. BidaskClub lowered Neogen Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Zacks Investment Research lowered Neogen Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 18th.
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Neogen Corporation (NASDAQ:NEOG) traded down $0.61 during mid-day trading on Tuesday, hitting $80.38. The stock had a trading volume of 84,942 shares, compared to its average volume of 111,724. Neogen Corporation has a 1 year low of $59.51 and a 1 year high of $82.75. The company has a market cap of $3,099.70, a price-to-earnings ratio of 68.18, a PEG ratio of 4.13 and a beta of 1.53.
Neogen Corporation (NASDAQ:NEOG) last posted its quarterly earnings data on Tuesday, September 19th. The company reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.01. Neogen Corporation 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 analyst estimates of $94.87 million. During the same period last year, the company posted $0.26 EPS. The business’s quarterly revenue was up 14.0% on a year-over-year basis. research analysts forecast that Neogen Corporation will post 1.31 earnings per share for the current year.
In related news, insider James L. Herbert sold 26,000 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $81.45, for a total value of $2,117,700.00. Following the transaction, the insider now owns 879,430 shares in the company, valued at $71,629,573.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Steven J. Quinlan sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $80.26, for a total value of $321,040.00. Following the completion of the transaction, the chief financial officer now owns 14,103 shares in the company, valued at approximately $1,131,906.78. The disclosure for this sale can be found here. Insiders have sold a total of 175,210 shares of company stock valued at $13,286,021 in the last quarter. Company insiders own 4.20% of the company’s stock.
Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in Neogen Corporation during the 2nd quarter valued at $154,000. Riverhead Capital Management LLC increased its holdings in shares of Neogen Corporation by 91.4% in the second quarter. Riverhead Capital Management LLC now owns 2,297 shares of the company’s stock worth $159,000 after purchasing an additional 1,097 shares during the period. Bell Bank bought a new position in shares of Neogen Corporation in the third quarter worth $201,000. Parametrica Management Ltd bought a new position in shares of Neogen Corporation in the third quarter worth $202,000. Finally, Victory Capital Management Inc. increased its holdings in shares of Neogen Corporation by 17.5% in the second quarter. Victory Capital Management Inc. now owns 2,989 shares of the company’s stock worth $207,000 after purchasing an additional 446 shares during the period. 86.57% 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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