Neogen (NEOG) Announces Earnings Results, Beats Estimates By $0.07 EPS

Neogen (NASDAQ:NEOG) released its quarterly earnings results on Wednesday. The company reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.07, Bloomberg Earnings reports. Neogen had a net margin of 12.28% and a return on equity of 9.93%. The company had revenue of $101.80 million during the quarter, compared to the consensus estimate of $102.46 million. During the same period in the prior year, the firm earned $0.29 earnings per share. Neogen’s revenue was up 12.2% on a year-over-year basis.

Shares of Neogen (NEOG) traded down $1.50 on Wednesday, reaching $60.16. 289,200 shares of the company’s stock were exchanged, compared to its average volume of 270,133. The stock has a market capitalization of $2,300.00, a PE ratio of 67.60, a PEG ratio of 4.18 and a beta of 1.54. Neogen has a twelve month low of $44.63 and a twelve month high of $64.42.

A number of equities analysts recently issued reports on the stock. Craig Hallum increased their price target on shares of Neogen from $46.50 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, December 7th. Zacks Investment Research downgraded shares of Neogen from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. Finally, Roth Capital began coverage on shares of Neogen in a report on Tuesday, December 5th. They issued a “neutral” rating and a $61.50 price objective on the stock. Five research analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average price target of $63.75.

In other Neogen news, CFO Steven J. Quinlan sold 4,000 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $80.26, for a total value of $321,040.00. Following the sale, the chief financial officer now owns 14,103 shares in the company, valued at $1,131,906.78. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Edward Bradley sold 20,000 shares of the company’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $78.60, for a total transaction of $1,572,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,824 shares of company stock worth $5,442,364. Corporate insiders own 4.20% of the company’s stock.

Large investors have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in shares of Neogen during the second quarter valued at approximately $154,000. Riverhead Capital Management LLC grew its holdings in shares of Neogen by 91.4% during the second quarter. Riverhead Capital Management LLC now owns 2,297 shares of the company’s stock valued at $159,000 after buying an additional 1,097 shares during the last quarter. Bell Bank purchased a new stake in shares of Neogen during the third quarter valued at approximately $201,000. Parametrica Management Ltd purchased a new stake in shares of Neogen during the third quarter valued at approximately $202,000. Finally, Arcadia Investment Management Corp MI purchased a new stake in shares of Neogen during the third quarter valued at approximately $230,000. Hedge funds and other institutional investors own 86.96% of the company’s stock.

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About Neogen

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.

Earnings History for Neogen (NASDAQ:NEOG)

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