Neogen Corp. (NASDAQ:NEOG) – Stock analysts at William Blair lowered their FY2018 EPS estimates for shares of Neogen Corp. in a report issued on Wednesday. William Blair analyst B. Weinstein now forecasts that the firm will post earnings per share of $1.32 for the year, down from their prior estimate of $1.35.
NEOG has been the topic of several other reports. Craig Hallum lowered Neogen Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 29th. Zacks Investment Research lowered Neogen Corp. from a “hold” rating to a “sell” rating in a report on Saturday, July 23rd. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $58.25.
Neogen Corp. (NASDAQ:NEOG) traded up 3.69% during mid-day trading on Thursday, reaching $55.94. The company had a trading volume of 211,414 shares. Neogen Corp. has a 52 week low of $43.79 and a 52 week high of $61.24. The stock has a 50 day moving average of $57.76 and a 200 day moving average of $53.03. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 57.08 and a beta of 1.28.
Neogen Corp. (NASDAQ:NEOG) last issued its quarterly earnings data on Tuesday, September 27th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.26. The business had revenue of $83.65 million for the quarter. Neogen Corp. had a return on equity of 9.36% and a net margin of 11.25%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same period last year, the company earned $0.25 earnings per share.
A number of hedge funds have recently modified their holdings of the stock. Advisor Group Inc. purchased a new stake in shares of Neogen Corp. during the second quarter worth about $119,000. BlackRock Inc. raised its stake in shares of Neogen Corp. by 126.9% in the first quarter. BlackRock Inc. now owns 2,512 shares of the company’s stock worth $126,000 after buying an additional 1,405 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of Neogen Corp. during the second quarter worth about $132,000. Sei Investments Co. raised its stake in shares of Neogen Corp. by 164.2% in the second quarter. Sei Investments Co. now owns 3,527 shares of the company’s stock worth $199,000 after buying an additional 2,192 shares in the last quarter. Finally, Rehmann Capital Advisory Group purchased a new stake in shares of Neogen Corp. during the second quarter worth about $219,000. 86.79% of the stock is currently owned by institutional investors.
In other Neogen Corp. news, VP Terri A. Morrical sold 9,600 shares of the firm’s stock in a transaction that occurred on Thursday, September 29th. The stock was sold at an average price of $54.14, for a total value of $519,744.00. Following the sale, the vice president now directly owns 44,384 shares of the company’s stock, valued at $2,402,949.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jack C. Parnell sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $56.87, for a total value of $284,350.00. Following the completion of the sale, the director now directly owns 13,555 shares in the company, valued at $770,872.85. The disclosure for this sale can be found here. 4.70% of the stock is owned by company insiders.
About Neogen Corp.
Neogen Corporation develops, manufactures and markets a diverse line of products dedicated to food and animal safety. The Company has two segments: Food Safety and Animal Safety. The Food Safety segment is engaged in the development, production and marketing of 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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