Q2 2023 EPS Estimates for Neogen Co. Raised by William Blair (NASDAQ:NEOG)

Neogen Co. (NASDAQ:NEOGGet Rating) – Research analysts at William Blair lifted their Q2 2023 EPS estimates for shares of Neogen in a report released on Tuesday, November 22nd. William Blair analyst B. Vazquez now anticipates that the company will post earnings of $0.14 per share for the quarter, up from their previous forecast of $0.13. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Neogen’s current full-year earnings is $0.59 per share. William Blair also issued estimates for Neogen’s Q3 2023 earnings at $0.14 EPS, FY2023 earnings at $0.59 EPS, Q1 2024 earnings at $0.15 EPS, Q3 2024 earnings at $0.16 EPS and FY2024 earnings at $0.64 EPS.

Several other equities analysts have also recently issued reports on the stock. StockNews.com began coverage on shares of Neogen in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Piper Sandler lowered their price objective on shares of Neogen from $20.00 to $14.00 and set a “neutral” rating on the stock in a research note on Monday, October 10th.

Neogen Price Performance

Shares of NEOG opened at $16.20 on Wednesday. The firm’s 50 day moving average is $13.85 and its 200-day moving average is $19.74. The stock has a market capitalization of $1.75 billion, a P/E ratio of 47.65 and a beta of 0.72. Neogen has a 12-month low of $10.49 and a 12-month high of $47.80.

Insider Transactions at Neogen

In other news, CEO John Edward Adent bought 22,000 shares of the company’s stock in a transaction dated Wednesday, September 28th. The shares were acquired at an average cost of $14.37 per share, with a total value of $316,140.00. Following the completion of the transaction, the chief executive officer now directly owns 80,103 shares in the company, valued at approximately $1,151,080.11. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director William T. Boehm bought 2,000 shares of the company’s stock in a transaction dated Monday, October 3rd. The shares were acquired at an average cost of $13.88 per share, with a total value of $27,760.00. Following the completion of the transaction, the director now directly owns 23,242 shares in the company, valued at approximately $322,598.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John Edward Adent purchased 22,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 28th. The shares were bought at an average price of $14.37 per share, with a total value of $316,140.00. Following the completion of the acquisition, the chief executive officer now owns 80,103 shares of the company’s stock, valued at approximately $1,151,080.11. The disclosure for this purchase can be found here. Insiders have bought a total of 36,000 shares of company stock valued at $502,220 over the last ninety days. Corporate insiders own 0.73% of the company’s stock.

Institutional Trading of Neogen

Institutional investors have recently made changes to their positions in the stock. TownSquare Capital LLC boosted its holdings in shares of Neogen by 4.3% during the second quarter. TownSquare Capital LLC now owns 19,737 shares of the company’s stock worth $475,000 after purchasing an additional 811 shares during the period. Stephens Inc. AR boosted its holdings in shares of Neogen by 13.7% during the second quarter. Stephens Inc. AR now owns 12,747 shares of the company’s stock worth $307,000 after purchasing an additional 1,534 shares during the period. Commonwealth Equity Services LLC boosted its holdings in shares of Neogen by 4.1% during the second quarter. Commonwealth Equity Services LLC now owns 24,212 shares of the company’s stock worth $583,000 after purchasing an additional 950 shares during the period. Simmons Bank acquired a new stake in shares of Neogen during the second quarter worth approximately $241,000. Finally, RMB Capital Management LLC boosted its holdings in shares of Neogen by 12.3% during the first quarter. RMB Capital Management LLC now owns 260,545 shares of the company’s stock worth $8,035,000 after purchasing an additional 28,581 shares during the period. 97.86% of the stock is currently owned by institutional investors and hedge funds.

Neogen Company Profile

(Get Rating)

Neogen Corporation, together with its subsidiaries, develops, manufactures, and markets various products for food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment offers diagnostic test kits and related products to detect dangerous and unintended substances in food and animal feed, including foodborne pathogens, spoilage organisms, natural toxins, food allergens, genetic modifications, ruminant by-products, meat speciation, drug residues, pesticide residues, and general sanitation concerns; and AccuPoint Advanced rapid sanitation test to detect the presence of adenosine triphosphate, a chemical found in living cells.

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Earnings History and Estimates for Neogen (NASDAQ:NEOG)

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