Neogen Co. (NEOG) Given $54.31 Consensus Price Target by Brokerages
Neogen Co. (NASDAQ:NEOG) has earned a consensus broker rating score of 3.00 (Hold) from the seven analysts that provide coverage for the stock, Zacks Investment Research reports. Seven research analysts have rated the stock with a hold recommendation.
Brokers have set a 12 month consensus target price of $54.31 for the company and are expecting that the company will post $0.24 EPS for the current quarter, according to Zacks. Zacks has also assigned Neogen an industry rank of 161 out of 265 based on the ratings given to related companies.
A number of analysts recently issued reports on NEOG shares. Zacks Investment Research lowered shares of Neogen from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Roth Capital began coverage on shares of Neogen in a research report on Tuesday, December 5th. They set a “neutral” rating and a $61.50 target price on the stock. Finally, Craig Hallum lifted their price target on shares of Neogen from $46.50 to $60.00 and gave the company a “hold” rating in a report on Thursday, December 7th.
Neogen (NASDAQ:NEOG) last announced its earnings results on Wednesday, January 3rd. The company reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.07. Neogen had a net margin of 13.47% and a return on equity of 11.01%. The firm had revenue of $101.80 million for the quarter, compared to analyst estimates of $102.46 million. During the same quarter last year, the business earned $0.29 earnings per share. Neogen’s revenue was up 12.2% compared to the same quarter last year. research analysts forecast that Neogen will post 0.98 earnings per share for the current fiscal year.
In other Neogen news, VP Edward Bradley sold 20,000 shares of Neogen stock in a transaction on Monday, October 9th. The shares were sold at an average price of $78.60, for a total value of $1,572,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James L. Herbert sold 26,000 shares of Neogen stock in a transaction on Monday, November 13th. The shares were sold at an average price of $81.45, for a total transaction of $2,117,700.00. Following the completion of the transaction, the insider now owns 879,430 shares in the company, valued at approximately $71,629,573.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,824 shares of company stock worth $5,442,364. 4.20% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of the stock. Pinebridge Investments L.P. lifted its holdings in shares of Neogen by 1.4% during the 2nd quarter. Pinebridge Investments L.P. now owns 5,022 shares of the company’s stock valued at $347,000 after acquiring an additional 68 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Neogen by 1.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,533 shares of the company’s stock valued at $1,972,000 after acquiring an additional 273 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Neogen by 6.0% during the 2nd quarter. Amalgamated Bank now owns 5,123 shares of the company’s stock valued at $354,000 after acquiring an additional 292 shares in the last quarter. Parametric Portfolio Associates LLC lifted its holdings in shares of Neogen by 0.4% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 81,530 shares of the company’s stock valued at $5,635,000 after acquiring an additional 338 shares in the last quarter. Finally, Profund Advisors LLC lifted its holdings in shares of Neogen by 5.7% during the 2nd quarter. Profund Advisors LLC now owns 6,974 shares of the company’s stock valued at $482,000 after acquiring an additional 379 shares in the last quarter. Institutional investors and hedge funds own 86.96% of the company’s stock.
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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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