FY2018 Earnings Estimate for Neogen Co. (NEOG) Issued By William Blair

Neogen Co. (NASDAQ:NEOG) – Equities researchers at William Blair boosted their FY2018 earnings estimates for Neogen in a report released on Wednesday. William Blair analyst B. Weinstein now expects that the company will earn $1.09 per share for the year, up from their prior forecast of $0.98.

Several other equities analysts have also commented on the stock. Zacks Investment Research lowered shares of Neogen from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Roth Capital initiated coverage on shares of Neogen in a research note on Tuesday, December 5th. They issued a “neutral” rating and a $61.50 price target on the stock. Finally, Craig Hallum increased their price target on shares of Neogen from $46.50 to $60.00 and gave the company a “hold” rating in a research note on Thursday, December 7th. Five investment analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and a consensus price target of $63.92.

Shares of Neogen (NASDAQ:NEOG) traded up $0.57 during trading on Friday, reaching $59.65. 258,000 shares of the company’s stock traded hands, compared to its average volume of 317,267. The stock has a market capitalization of $3,011.76, a price-to-earnings ratio of 59.35, a P/E/G ratio of 4.00 and a beta of 1.54. Neogen has a one year low of $44.63 and a one year high of $64.42.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings results on Wednesday, January 3rd. The company reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.07. The company had revenue of $101.80 million for the quarter, compared to analyst estimates of $102.46 million. Neogen had a net margin of 13.47% and a return on equity of 11.01%. The firm’s revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.29 earnings per share.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Neogen by 1.9% in the second quarter. Vanguard Group Inc. now owns 3,319,437 shares of the company’s stock valued at $229,406,000 after acquiring an additional 61,968 shares during the period. Conestoga Capital Advisors LLC lifted its holdings in shares of Neogen by 20.2% during the third quarter. Conestoga Capital Advisors LLC now owns 958,784 shares of the company’s stock worth $74,267,000 after purchasing an additional 161,170 shares during the period. 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 worth $65,613,000 after purchasing an additional 43,496 shares during the period. Northern Trust Corp lifted its holdings in shares of Neogen by 2.8% during the second quarter. Northern Trust Corp now owns 530,832 shares of the company’s stock worth $36,685,000 after purchasing an additional 14,353 shares during the period. Finally, Fred Alger Management Inc. lifted its holdings in shares of Neogen by 13.8% during the second quarter. Fred Alger Management Inc. now owns 443,000 shares of the company’s stock worth $30,616,000 after purchasing an additional 53,745 shares during the period. 86.96% of the stock is owned by institutional investors and hedge funds.

In other news, insider James L. Herbert sold 26,000 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $81.45, for a total value of $2,117,700.00. Following the completion of the sale, the insider now directly owns 879,430 shares of the company’s stock, valued at $71,629,573.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Steven J. Quinlan sold 4,000 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $80.26, for a total value of $321,040.00. Following the completion of the sale, the chief financial officer now directly owns 14,103 shares of the company’s stock, valued at $1,131,906.78. The disclosure for this sale can be found here. Insiders sold 67,824 shares of company stock valued at $5,442,364 over the last three months. Corporate insiders own 4.20% of the company’s stock.

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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.

Earnings History and Estimates for Neogen (NASDAQ:NEOG)

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