Roth Capital Reiterates $62.00 Price Target for Neogen (NEOG)

Neogen (NASDAQ:NEOG) has been given a $62.00 target price by analysts at Roth Capital in a report released on Thursday. The firm currently has a “hold” rating on the stock. Roth Capital’s price objective indicates a potential upside of 3.96% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Neogen from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Craig Hallum boosted their target price 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. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. Neogen has a consensus rating of “Hold” and a consensus price target of $63.67.

Shares of Neogen (NASDAQ NEOG) traded down $0.01 during trading hours on Thursday, hitting $59.64. 266,241 shares of the stock traded hands, compared to its average volume of 165,873. Neogen has a 52 week low of $44.63 and a 52 week high of $64.42. The firm has a market cap of $2,280.00, a P/E ratio of 64.83, a PEG ratio of 3.89 and a beta of 1.54.

Neogen (NASDAQ:NEOG) last issued its 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. Neogen had a net margin of 13.47% and a return on equity of 10.72%. The company had revenue of $101.80 million for the quarter, compared to the consensus estimate of $102.46 million. During the same quarter in the previous year, the company earned $0.29 EPS. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. analysts predict that Neogen will post 1.04 EPS for the current year.

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

A number of hedge funds and other institutional investors have recently modified their holdings of NEOG. SG Americas Securities LLC acquired a new position in Neogen during the 2nd quarter worth about $154,000. Riverhead Capital Management LLC lifted its position in 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 Neogen during the 3rd quarter worth about $201,000. Parametrica Management Ltd acquired a new position in Neogen during the 3rd quarter worth about $202,000. Finally, Victory Capital Management Inc. lifted its position in Neogen by 17.5% during the 2nd quarter. Victory Capital Management Inc. now owns 2,989 shares of the company’s stock worth $207,000 after buying an additional 446 shares in the last quarter. Institutional investors and hedge funds 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.