Neogen Co. (NEOG) Expected to Announce Quarterly Sales of $97.28 Million
Wall Street analysts predict that Neogen Co. (NASDAQ:NEOG) will announce sales of $97.28 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Neogen’s earnings. The lowest sales estimate is $96.12 million and the highest is $98.50 million. Neogen reported sales of $88.39 million during the same quarter last year, which would suggest a positive year over year growth rate of 10.1%. The business is expected to announce its next earnings results on Tuesday, March 20th.
On average, analysts expect that Neogen will report full-year sales of $97.28 million for the current fiscal year, with estimates ranging from $398.75 million to $402.90 million. For the next fiscal year, analysts forecast that the company will post sales of $440.00 million per share, with estimates ranging from $435.86 million to $445.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Neogen.
Neogen (NASDAQ:NEOG) last posted its earnings results on Wednesday, January 3rd. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. The firm had revenue of $101.80 million for the quarter, compared to the consensus estimate of $102.46 million. Neogen had a return on equity of 10.72% and a net margin of 13.47%. The business’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.29 earnings per share.
Neogen (NASDAQ NEOG) traded down $0.08 during trading hours on Monday, hitting $59.12. The company’s stock had a trading volume of 155,900 shares, compared to its average volume of 210,867. The stock has a market capitalization of $2,260.00, a P/E ratio of 59.12, a P/E/G ratio of 3.73 and a beta of 1.54. Neogen has a 12-month low of $44.63 and a 12-month high of $64.42.
In related news, insider James L. Herbert sold 26,000 shares of the stock in a transaction 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 transaction, the insider now owns 879,430 shares of the company’s stock, valued at $71,629,573.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Steven J. Quinlan sold 4,000 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 14,103 shares in the company, valued at approximately $1,131,906.78. The disclosure for this sale can be found here. Insiders sold 47,824 shares of company stock worth $3,870,364 in the last quarter. 4.20% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEOG. SG Americas Securities LLC bought a new position in Neogen in the second quarter valued at $154,000. Riverhead Capital Management LLC increased its stake in Neogen by 91.4% in the second quarter. Riverhead Capital Management LLC now owns 2,297 shares of the company’s stock valued at $159,000 after acquiring an additional 1,097 shares during the last quarter. Bell Bank bought a new position in Neogen in the third quarter valued at $201,000. Parametrica Management Ltd bought a new position in Neogen in the third quarter valued at $202,000. Finally, Victory Capital Management Inc. increased its stake in Neogen by 17.5% in the second quarter. Victory Capital Management Inc. now owns 2,989 shares of the company’s stock valued at $207,000 after acquiring an additional 446 shares during the last quarter. 64.48% of the stock is currently owned by institutional investors and hedge funds.
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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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