Neogen (NASDAQ:NEOG) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a note issued to investors on Thursday.
NEOG has been the topic of a number of other reports. Zacks Investment Research lowered shares of Neogen from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. Stephens restated a “hold” rating and issued a $62.00 price objective on shares of Neogen in a report on Wednesday, January 10th. Roth Capital set a $62.00 price objective on shares of Neogen and gave the company a “hold” rating in a report on Thursday, January 4th. Finally, Craig Hallum raised their price objective on shares of Neogen from $46.50 to $60.00 and gave the company a “hold” rating in a report on Thursday, December 7th. Five equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $63.25.
Shares of Neogen (NEOG) opened at $64.31 on Thursday. Neogen has a fifty-two week low of $44.63 and a fifty-two week high of $64.57. The firm has a market cap of $3,287.66, a price-to-earnings ratio of 63.99, a PEG ratio of 3.95 and a beta of 1.42.
Neogen (NASDAQ:NEOG) last announced its quarterly earnings data on Wednesday, January 3rd. The company reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.07. Neogen had a net margin of 13.47% and a return on equity of 10.72%. The business had revenue of $101.80 million for the quarter, compared to analyst estimates of $102.46 million. During the same period last year, the business earned $0.29 EPS. The company’s revenue was up 12.2% on a year-over-year basis. research analysts forecast that Neogen will post 1.08 EPS for the current year.
In related news, VP Edward Bradley sold 11,725 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $60.29, for a total value of $706,900.25. Following the transaction, the vice president now directly owns 21,412 shares of the company’s stock, valued at approximately $1,290,929.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Steven J. Quinlan sold 2,000 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $60.15, for a total transaction of $120,300.00. Following the completion of the transaction, the chief financial officer now directly owns 15,470 shares in the company, valued at $930,520.50. The disclosure for this sale can be found here. Insiders sold a total of 66,382 shares of company stock worth $3,939,913 over the last ninety days. Insiders own 4.20% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wasatch Advisors Inc. grew its position in Neogen by 619.3% during the 4th quarter. Wasatch Advisors Inc. now owns 1,023,040 shares of the company’s stock worth $84,104,000 after purchasing an additional 880,819 shares during the last quarter. Conestoga Capital Advisors LLC grew its position in Neogen by 12.4% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,077,886 shares of the company’s stock worth $88,613,000 after purchasing an additional 119,102 shares during the last quarter. Geode Capital Management LLC grew its position in Neogen by 33.7% during the 4th quarter. Geode Capital Management LLC now owns 451,973 shares of the company’s stock worth $27,867,000 after purchasing an additional 113,850 shares during the last quarter. Citadel Advisors LLC grew its position in Neogen by 338.6% during the 3rd quarter. Citadel Advisors LLC now owns 143,553 shares of the company’s stock worth $11,120,000 after purchasing an additional 110,821 shares during the last quarter. Finally, McCollum Christoferson Group LLC purchased a new position in Neogen during the 4th quarter worth $8,225,000. 67.69% of the stock is currently owned by hedge funds and other institutional investors.
Neogen 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.
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