Neogen Co. (NASDAQ:NEOG) Receives $74.00 Average Target Price from Analysts

Neogen Co. (NASDAQ:NEOG) has earned a consensus recommendation of “Hold” from the six brokerages that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $74.00.

A number of research analysts recently weighed in on the company. BidaskClub downgraded Neogen from a “hold” rating to a “sell” rating in a research note on Saturday, November 9th. Zacks Investment Research downgraded Neogen from a “hold” rating to a “sell” rating and set a $70.00 price target on the stock. in a research note on Friday, October 18th. Craig Hallum upped their price target on Neogen from $72.00 to $78.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 24th. Finally, ValuEngine downgraded Neogen from a “buy” rating to a “hold” rating in a research note on Friday, September 27th.

Shares of NEOG traded up $0.59 during midday trading on Thursday, hitting $64.94. The company’s stock had a trading volume of 157,900 shares, compared to its average volume of 133,378. The company’s fifty day simple moving average is $64.99 and its two-hundred day simple moving average is $65.10. Neogen has a one year low of $50.60 and a one year high of $79.83. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of 56.47, a price-to-earnings-growth ratio of 5.29 and a beta of 1.37.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings results on Tuesday, September 24th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). Neogen had a return on equity of 9.46% and a net margin of 14.32%. The firm had revenue of $101.42 million for the quarter, compared to analyst estimates of $105.16 million. During the same period last year, the company posted $0.29 earnings per share. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. As a group, equities analysts forecast that Neogen will post 1.22 EPS for the current year.

In related news, Director James L. Herbert sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $67.17, for a total transaction of $1,343,400.00. Following the transaction, the director now directly owns 216,970 shares of the company’s stock, valued at $14,573,874.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James L. Herbert sold 25,333 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $62.95, for a total transaction of $1,594,712.35. Following the transaction, the director now owns 232,303 shares in the company, valued at $14,623,473.85. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 158,069 shares of company stock worth $10,331,742. 1.70% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. Municipal Employees Retirement System of Michigan increased its stake in Neogen by 1.8% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 15,580 shares of the company’s stock valued at $968,000 after buying an additional 270 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in Neogen by 8.4% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 45,239 shares of the company’s stock valued at $2,810,000 after buying an additional 3,522 shares during the last quarter. California Public Employees Retirement System increased its stake in Neogen by 42.6% in the 3rd quarter. California Public Employees Retirement System now owns 113,795 shares of the company’s stock valued at $7,751,000 after buying an additional 34,015 shares during the last quarter. Captrust Financial Advisors increased its stake in Neogen by 20.0% in the 2nd quarter. Captrust Financial Advisors now owns 1,135 shares of the company’s stock valued at $70,000 after buying an additional 189 shares during the last quarter. Finally, Granite Investment Partners LLC increased its stake in Neogen by 305.3% in the 2nd quarter. Granite Investment Partners LLC now owns 36,615 shares of the company’s stock valued at $2,274,000 after buying an additional 27,581 shares during the last quarter. 89.86% of the stock is owned by institutional investors and hedge funds.

Neogen Company Profile

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.

See Also: Options Trading

Receive News & Ratings for Neogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Neogen and related companies with MarketBeat.com's FREE daily email newsletter.