Neogen Co. (NEOG) Given Average Rating of “Hold” by Brokerages

Shares of Neogen Co. (NASDAQ:NEOG) have been assigned an average recommendation of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $63.25.

Several brokerages recently commented on NEOG. Zacks Investment Research cut shares of Neogen from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. Roth Capital began coverage on shares of Neogen in a research note on Tuesday, December 5th. They issued a “neutral” rating and a $61.50 price objective for the company. Craig Hallum raised their price objective 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. Stephens reiterated a “hold” rating and issued a $62.00 price objective on shares of Neogen in a research note on Wednesday, January 10th. Finally, BidaskClub cut shares of Neogen from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th.

Shares of Neogen (NASDAQ NEOG) opened at $59.10 on Friday. The firm has a market cap of $3,045.01, a PE ratio of 58.80, a PEG ratio of 3.60 and a beta of 1.46. Neogen has a fifty-two week low of $44.63 and a fifty-two week high of $64.42.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings data 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 firm had revenue of $101.80 million during the quarter, compared to analysts’ expectations of $102.46 million. During the same quarter last year, the business earned $0.29 earnings per share. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. analysts predict that Neogen will post 1.1 earnings per share for the current fiscal year.

In other Neogen news, VP Edward Bradley sold 11,725 shares of Neogen stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $60.29, for a total transaction of $706,900.25. Following the completion of the transaction, the vice president now owns 21,412 shares in the company, valued at $1,290,929.48. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director G Bruce Papesh sold 6,000 shares of Neogen stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $59.72, for a total transaction of $358,320.00. Following the transaction, the director now owns 18,196 shares of the company’s stock, valued at approximately $1,086,665.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,649 shares of company stock valued at $4,620,544. 4.20% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in NEOG. Bell Bank acquired a new position in Neogen during the third quarter worth about $201,000. Parametrica Management Ltd acquired a new position in Neogen during the third quarter worth about $202,000. Arcadia Investment Management Corp MI acquired a new position in Neogen during the third quarter worth about $230,000. Shelton Capital Management acquired a new position in Neogen during the second quarter worth about $261,000. Finally, North Star Asset Management Inc. acquired a new position in Neogen during the fourth quarter worth about $274,000. Institutional investors own 66.49% 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.

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