Shares of Neogen Corporation (NASDAQ:NEOG) have been assigned an average broker rating score of 3.00 (Hold) from the six brokers that provide coverage for the company, Zacks Investment Research reports. Six investment analysts have rated the stock with a hold rating.

Brokers have set a 12-month consensus price target of $69.00 for the company and are anticipating 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 174 out of 265 based on the ratings given to its competitors.

A number of analysts recently weighed in on NEOG shares. Zacks Investment Research raised shares of Neogen Corporation from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a research note on Wednesday, October 11th. BidaskClub cut shares of Neogen Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th.

In related news, VP Edward Bradley sold 13,628 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $70.06, for a total value of $954,777.68. Following the sale, the vice president now owns 71,691 shares of the company’s stock, valued at $5,022,671.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Steven J. Quinlan sold 4,000 shares of the company’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $80.26, for a total transaction of $321,040.00. Following the sale, the chief financial officer now directly owns 14,103 shares in the company, valued at $1,131,906.78. The disclosure for this sale can be found here. In the last three months, insiders sold 149,210 shares of company stock worth $11,168,321. 4.20% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of the business. Bell Bank bought a new stake in Neogen Corporation during the third quarter worth about $201,000. Schwab Charles Investment Management Inc. grew its stake in Neogen Corporation by 8.0% during the third quarter. Schwab Charles Investment Management Inc. now owns 171,778 shares of the company’s stock worth $13,306,000 after buying an additional 12,797 shares during the last quarter. Wells Fargo & Company MN grew its stake in Neogen Corporation by 6.6% during the third quarter. Wells Fargo & Company MN now owns 173,017 shares of the company’s stock worth $13,402,000 after buying an additional 10,667 shares during the last quarter. Citadel Advisors LLC grew its stake in Neogen Corporation by 338.6% during the third quarter. Citadel Advisors LLC now owns 143,553 shares of the company’s stock worth $11,120,000 after buying an additional 110,821 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in Neogen Corporation by 2.7% during the third quarter. Legal & General Group Plc now owns 75,156 shares of the company’s stock worth $5,820,000 after buying an additional 1,971 shares during the last quarter. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: This report was posted by American Banking News and is the property of of American Banking News. If you are reading this report on another site, it was copied illegally and republished in violation of United States & international copyright and trademark law. The original version of this report can be viewed at https://www.americanbankingnews.com/2017/11/14/brokerages-set-69-00-target-price-for-neogen-corporation-neog.html.

Shares of Neogen Corporation (NASDAQ:NEOG) traded down $0.58 during trading hours on Tuesday, reaching $81.45. 116,000 shares of the company were exchanged, compared to its average volume of 112,254. The company has a market capitalization of $3,133.70, a PE ratio of 68.93, a PEG ratio of 4.17 and a beta of 1.53. Neogen Corporation has a 12-month low of $59.51 and a 12-month high of $82.75.

Neogen Corporation (NASDAQ:NEOG) last released its earnings results on Tuesday, September 19th. The company reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.01. The firm had revenue of $95.30 million during the quarter, compared to analyst estimates of $94.87 million. Neogen Corporation had a net margin of 12.28% and a return on equity of 9.93%. The business’s revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.26 EPS. research analysts expect that Neogen Corporation will post 1.31 EPS for the current year.

Neogen Corporation 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.

Get a free copy of the Zacks research report on Neogen Corporation (NEOG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Neogen Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Neogen Corporation and related companies with MarketBeat.com's FREE daily email newsletter.