Brokerages Set Neogen (NEOG) Price Target at $61.33

Shares of Neogen (NASDAQ:NEOG) have received an average rating of “Hold” from the six research firms that are covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $62.33.

NEOG has been the topic of several research analyst reports. Zacks Investment Research lowered Neogen from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. Roth Capital initiated coverage on Neogen in a report on Tuesday, December 5th. They issued a “neutral” rating and a $61.50 price objective on the stock. Craig Hallum raised their price objective on Neogen from $46.50 to $60.00 and gave the company a “hold” rating in a report on Thursday, December 7th. BidaskClub raised Neogen from a “hold” rating to a “buy” rating in a report on Friday, February 16th. Finally, Stephens reissued a “hold” rating and issued a $65.00 price objective (up from $62.00) on shares of Neogen in a report on Monday, March 26th.

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In other news, Director Thomas H. Reed sold 6,000 shares of Neogen stock in a transaction that occurred on Friday, March 23rd. The stock was sold at an average price of $62.47, for a total value of $374,820.00. Following the sale, the director now directly owns 19,375 shares of the company’s stock, valued at $1,210,356.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Edward Bradley sold 11,725 shares of Neogen stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $60.29, for a total value of $706,900.25. Following the completion of the sale, the vice president now directly owns 21,412 shares in the company, valued at $1,290,929.48. The disclosure for this sale can be found here. Insiders sold 77,382 shares of company stock worth $4,645,383 over the last ninety days. Corporate insiders own 4.20% of the company’s stock.



Large investors have recently modified their holdings of the company. Louisiana State Employees Retirement System lifted its position in Neogen by 5.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 16,400 shares of the company’s stock worth $1,348,000 after buying an additional 900 shares in the last quarter. Prudential Financial Inc. lifted its position in Neogen by 1.5% during the third quarter. Prudential Financial Inc. now owns 65,445 shares of the company’s stock worth $5,069,000 after buying an additional 970 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Neogen by 3.0% during the third quarter. Russell Investments Group Ltd. now owns 33,512 shares of the company’s stock worth $2,596,000 after buying an additional 979 shares in the last quarter. Cookson Peirce & Co. Inc. lifted its position in Neogen by 24.8% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 6,250 shares of the company’s stock worth $514,000 after buying an additional 1,240 shares in the last quarter. Finally, Thomson Horstmann & Bryant Inc. lifted its position in Neogen by 7.9% during the fourth quarter. Thomson Horstmann & Bryant Inc. now owns 20,422 shares of the company’s stock worth $1,678,000 after buying an additional 1,491 shares in the last quarter. 67.69% of the stock is currently owned by hedge funds and other institutional investors.

NEOG traded down $1.46 during trading on Monday, hitting $65.53. The company’s stock had a trading volume of 221,022 shares, compared to its average volume of 195,666. The company has a current ratio of 9.44, a quick ratio of 7.37 and a debt-to-equity ratio of 0.03. Neogen has a twelve month low of $44.63 and a twelve month high of $67.80. The firm has a market cap of $3,455.55, a P/E ratio of 59.68, a PEG ratio of 4.05 and a beta of 1.27.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings data on Thursday, March 22nd. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.24 by $0.08. Neogen had a return on equity of 11.49% and a net margin of 14.82%. The company had revenue of $95.90 million for the quarter, compared to analyst estimates of $97.93 million. During the same period last year, the company earned $0.27 earnings per share. Neogen’s quarterly revenue was up 8.5% compared to the same quarter last year. equities research analysts forecast that Neogen will post 1.1 EPS for the current year.

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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.

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