Equities analysts predict that Neogen Co. (NASDAQ:NEOG) will report $110.97 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Neogen’s earnings. The highest sales estimate is $113.50 million and the lowest is $107.50 million. Neogen posted sales of $109.29 million during the same quarter last year, which suggests a positive year-over-year growth rate of 1.5%. The business is expected to announce its next quarterly earnings report before the market opens on Tuesday, July 23rd.
On average, analysts expect that Neogen will report full year sales of $415.37 million for the current fiscal year, with estimates ranging from $411.90 million to $417.90 million. For the next year, analysts expect that the company will post sales of $447.70 million, with estimates ranging from $443.60 million to $451.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Neogen.
Several research firms recently issued reports on NEOG. BidaskClub downgraded shares of Westport Fuel Systems from a “buy” rating to a “hold” rating in a research report on Friday. Guggenheim reiterated a “buy” rating and set a $95.00 target price (up from $90.00) on shares of VF in a research note on Thursday, May 23rd. Finally, Zacks Investment Research cut Gold Resource from a “hold” rating to a “sell” rating in a research note on Friday, June 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $65.38.
Neogen stock opened at $63.97 on Friday. The company has a market cap of $3.33 billion, a price-to-earnings ratio of 52.87, a price-to-earnings-growth ratio of 5.34 and a beta of 1.34. Neogen has a 52-week low of $50.60 and a 52-week high of $97.38. The stock’s 50 day moving average price is $60.75.
In other Neogen news, CFO Steven J. Quinlan sold 6,902 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $60.13, for a total value of $415,017.26. Following the completion of the transaction, the chief financial officer now owns 20,372 shares in the company, valued at $1,224,968.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jack C. Parnell sold 4,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $60.58, for a total value of $242,320.00. Following the completion of the transaction, the director now owns 10,439 shares of the company’s stock, valued at approximately $632,394.62. The disclosure for this sale can be found here. Insiders sold 102,502 shares of company stock valued at $6,243,081 in the last quarter. Corporate insiders own 3.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Comerica Bank boosted its position in shares of Neogen by 1.8% during the first quarter. Comerica Bank now owns 91,316 shares of the company’s stock valued at $5,302,000 after buying an additional 1,638 shares during the last quarter. Azimuth Capital Management LLC increased its stake in Neogen by 2.4% in the 1st quarter. Azimuth Capital Management LLC now owns 19,415 shares of the company’s stock worth $1,114,000 after acquiring an additional 450 shares during the last quarter. Conestoga Capital Advisors LLC increased its stake in Neogen by 1.7% in the 1st quarter. Conestoga Capital Advisors LLC now owns 1,546,058 shares of the company’s stock worth $88,728,000 after acquiring an additional 26,290 shares during the last quarter. California State Teachers Retirement System increased its stake in Neogen by 2.4% in the 4th quarter. California State Teachers Retirement System now owns 78,767 shares of the company’s stock worth $4,490,000 after acquiring an additional 1,830 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in Neogen by 12.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 51,324 shares of the company’s stock worth $2,925,000 after acquiring an additional 5,716 shares during the last quarter. 90.09% of the stock is currently owned by hedge funds and other institutional investors.
Neogen Corporation, together with its subsidiaries, develops, manufactures, and markets various products for food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment primarily offers diagnostic test kits and complementary to detect dangerous and/or unintended substances in human food and animal feed, such as foodborne pathogens, spoilage organisms, natural toxins, food allergens, genetic modifications, ruminant by-products, meat speciation, drug residues, pesticide residues, and general sanitation concerns; and AccuPoint Advanced rapid sanitation test for adenosine triphosphate, a chemical found in living cells.
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