Investment analysts at Roth Capital started coverage on shares of Neogen (NASDAQ:NEOG) in a research note issued to investors on Tuesday. The brokerage set a “neutral” rating and a $82.00 price target on the stock. Roth Capital’s price target indicates a potential downside of 1.75% from the stock’s current price.

NEOG has been the subject of several other reports. Zacks Investment Research cut Neogen from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. BidaskClub raised Neogen from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th.

Shares of Neogen (NASDAQ NEOG) opened at $83.46 on Tuesday. The stock has a market cap of $3,200.94, a price-to-earnings ratio of 70.41, a PEG ratio of 4.26 and a beta of 1.54. Neogen has a 52 week low of $59.51 and a 52 week high of $85.89.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings data on Tuesday, September 19th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.01. The business had revenue of $95.30 million for the quarter, compared to the consensus estimate of $94.87 million. Neogen had a net margin of 12.28% and a return on equity of 9.93%. Neogen’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the company posted $0.26 earnings per share. equities research analysts forecast that Neogen will post 1.31 earnings per share for the current fiscal year.

In related news, CFO Steven J. Quinlan sold 2,772 shares of the firm’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $73.54, for a total value of $203,852.88. Following the completion of the transaction, the chief financial officer now directly owns 12,875 shares of the company’s stock, valued at $946,827.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Edward Bradley sold 6,372 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $70.05, for a total value of $446,358.60. Following the completion of the transaction, the vice president now directly owns 75,156 shares of the company’s stock, valued at $5,264,677.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 193,034 shares of company stock valued at $14,717,645. 4.20% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Teacher Retirement System of Texas bought a new position in shares of Neogen during the second quarter valued at $209,000. State Street Corp lifted its holdings in shares of Neogen by 4.8% during the second quarter. State Street Corp now owns 949,434 shares of the company’s stock valued at $65,613,000 after acquiring an additional 43,496 shares during the period. Fairfield Bush & CO. lifted its holdings in shares of Neogen by 4.6% during the second quarter. Fairfield Bush & CO. now owns 86,570 shares of the company’s stock valued at $5,983,000 after acquiring an additional 3,845 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in shares of Neogen by 56.0% during the second quarter. BNP Paribas Arbitrage SA now owns 12,414 shares of the company’s stock valued at $858,000 after acquiring an additional 4,455 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Neogen by 55.7% during the second quarter. Russell Investments Group Ltd. now owns 32,533 shares of the company’s stock valued at $2,249,000 after acquiring an additional 11,638 shares during the period. 87.06% of the stock is owned by hedge funds and other institutional investors.

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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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