Neogen Co. (NEOG) Given Average Rating of “Hold” by Brokerages

Shares of Neogen Co. (NASDAQ:NEOG) have been assigned a consensus recommendation of “Hold” from the seven research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $62.33.

A number of research analysts have weighed in on the company. Zacks Investment Research lowered Neogen from a “hold” rating to a “sell” rating in a report on Thursday, May 31st. BidaskClub lowered Neogen from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 24th. ValuEngine upgraded Neogen from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Finally, Stephens restated a “hold” rating and issued a $65.00 price objective (up previously from $62.00) on shares of Neogen in a report on Monday, March 26th.

In other Neogen news, Director Thomas H. Reed sold 6,000 shares of the firm’s stock in a transaction on Friday, March 23rd. The stock was sold at an average price of $62.47, for a total value of $374,820.00. Following the completion of the sale, the director now directly owns 19,375 shares of the company’s stock, valued at approximately $1,210,356.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William T. Boehm sold 1,020 shares of the firm’s stock in a transaction on Tuesday, April 10th. The stock was sold at an average price of $67.94, for a total value of $69,298.80. Following the completion of the sale, the director now directly owns 10,000 shares of the company’s stock, valued at $679,400. The disclosure for this sale can be found here. Insiders sold a total of 117,320 shares of company stock valued at $8,194,973 over the last ninety days. Corporate insiders own 4.20% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of NEOG. BlackRock Inc. increased its stake in shares of Neogen by 38.1% in the 1st quarter. BlackRock Inc. now owns 6,466,176 shares of the company’s stock worth $433,168,000 after acquiring an additional 1,784,124 shares during the last quarter. Wasatch Advisors Inc. increased its stake in shares of Neogen by 95.1% in the 1st quarter. Wasatch Advisors Inc. now owns 1,995,749 shares of the company’s stock worth $133,695,000 after acquiring an additional 972,709 shares during the last quarter. King Luther Capital Management Corp increased its stake in shares of Neogen by 32.1% in the 1st quarter. King Luther Capital Management Corp now owns 958,914 shares of the company’s stock worth $64,238,000 after acquiring an additional 233,097 shares during the last quarter. Stephens Investment Management Group LLC increased its stake in shares of Neogen by 31.7% in the 1st quarter. Stephens Investment Management Group LLC now owns 938,011 shares of the company’s stock worth $62,837,000 after acquiring an additional 225,894 shares during the last quarter. Finally, New York State Common Retirement Fund increased its stake in shares of Neogen by 24.4% in the 1st quarter. New York State Common Retirement Fund now owns 1,043,842 shares of the company’s stock worth $69,927,000 after acquiring an additional 204,495 shares during the last quarter. 89.09% of the stock is owned by institutional investors and hedge funds.

Neogen traded up $1.54, reaching $80.61, during midday trading on Friday, MarketBeat reports. The stock had a trading volume of 196,900 shares, compared to its average volume of 192,897. The firm has a market capitalization of $4.04 billion, a P/E ratio of 93.26, a PEG ratio of 4.13 and a beta of 1.29. Neogen has a 52-week low of $47.64 and a 52-week high of $80.65.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings data on Thursday, March 22nd. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.08. The company had revenue of $95.90 million for the quarter, compared to analyst estimates of $97.93 million. Neogen had a return on equity of 11.49% and a net margin of 14.82%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 EPS. equities research analysts predict that Neogen will post 1.18 earnings per share for the current year.

About Neogen

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 primarily offers diagnostic test kits and complementary to detect dangerous and/or unintended substances in human food and animal feed, such as 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 for adenosine triphosphate, a chemical found in living cells.

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