Wall Street analysts expect Neogen Corporation (NASDAQ:NEOG) to report sales of $101.86 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Neogen’s earnings. The highest sales estimate is $103.40 million and the lowest is $99.63 million. Neogen posted sales of $90.72 million during the same quarter last year, which would indicate a positive year over year growth rate of 12.3%. The firm is expected to announce its next earnings report before the market opens on Wednesday, January 3rd.
According to Zacks, analysts expect that Neogen will report full year sales of $101.86 million for the current year, with estimates ranging from $398.75 million to $405.00 million. For the next financial year, analysts forecast that the business will report sales of $444.45 million per share, with estimates ranging from $435.86 million to $455.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Neogen.
Neogen (NASDAQ:NEOG) last posted its quarterly earnings data on Tuesday, September 19th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.01. Neogen had a return on equity of 9.93% and a net margin of 12.28%. The company had revenue of $95.30 million during the quarter, compared to analysts’ expectations of $94.87 million. During the same period in the prior year, the business earned $0.26 earnings per share. Neogen’s revenue for the quarter was up 14.0% compared to the same quarter last year.
In other news, VP Terri A. Morrical sold 11,398 shares of Neogen stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $75.01, for a total transaction of $854,963.98. Following the completion of the transaction, the vice president now directly owns 28,185 shares in the company, valued at approximately $2,114,156.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Edward Bradley sold 17,824 shares of Neogen stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $80.32, for a total value of $1,431,623.68. Following the transaction, the vice president now owns 27,212 shares of the company’s stock, valued at $2,185,667.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 173,034 shares of company stock worth $13,316,509. 4.20% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of Neogen during the 2nd quarter valued at $154,000. Riverhead Capital Management LLC raised its holdings in shares of Neogen by 91.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,297 shares of the company’s stock worth $159,000 after buying an additional 1,097 shares in the last quarter. Bell Bank acquired a new position in shares of Neogen during the 3rd quarter worth $201,000. Parametrica Management Ltd acquired a new position in shares of Neogen during the 3rd quarter worth $202,000. Finally, Arcadia Investment Management Corp MI acquired a new position in shares of Neogen during the 3rd quarter worth $230,000. Institutional investors own 87.06% of the company’s stock.
Shares of Neogen (NEOG) opened at $79.16 on Tuesday. The firm has a market capitalization of $3,097.41, a P/E ratio of 68.13, a PEG ratio of 4.12 and a beta of 1.54. Neogen has a 12-month low of $59.51 and a 12-month high of $85.89.
Shares of Neogen are scheduled to split on Tuesday, January 2nd. The 4-3 split was announced on Friday, December 8th. The newly created shares will be distributed to shareholders after the market closes on Friday, December 29th.
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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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