Zacks: Brokerages Anticipate Neogen Co. (NEOG) Will Post Quarterly Sales of $97.28 Million

Wall Street analysts expect Neogen Co. (NASDAQ:NEOG) to report $97.28 million in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Neogen’s earnings. The highest sales estimate is $98.50 million and the lowest is $96.12 million. Neogen reported sales of $88.39 million in the same quarter last year, which indicates a positive year over year growth rate of 10.1%. The business is scheduled to issue its next quarterly earnings report on Tuesday, March 20th.

According to Zacks, analysts expect that Neogen will report full year sales of $97.28 million for the current fiscal year, with estimates ranging from $398.75 million to $402.90 million. For the next fiscal year, analysts forecast that the firm will report sales of $440.00 million per share, with estimates ranging from $435.86 million to $445.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Neogen.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings data on Wednesday, January 3rd. The company reported $0.33 EPS for the quarter, topping 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 business had revenue of $101.80 million during the quarter, compared to analyst estimates of $102.46 million. During the same period last year, the business posted $0.29 earnings per share. Neogen’s quarterly revenue was up 12.2% compared to the same quarter last year.

Several analysts have commented on the stock. BidaskClub lowered shares of Neogen from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Stephens reiterated a “hold” rating and set a $62.00 target price on shares of Neogen in a report on Wednesday, January 10th. Zacks Investment Research upgraded shares of Neogen from a “hold” rating to a “strong-buy” rating and set a $69.00 target price for the company in a report on Saturday, January 6th. Roth Capital set a $62.00 target price on shares of Neogen and gave the company a “hold” rating in a report on Thursday, January 4th. Finally, Craig Hallum lifted their target price on shares of Neogen from $46.50 to $60.00 and gave the company a “hold” rating in a report on Thursday, December 7th. Five research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. Neogen currently has an average rating of “Hold” and an average price target of $63.25.

In related news, insider James L. Herbert sold 26,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $81.45, for a total transaction of $2,117,700.00. Following the completion of the sale, the insider now owns 879,430 shares of the company’s stock, valued at $71,629,573.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Edward Bradley sold 11,725 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $60.29, for a total transaction of $706,900.25. Following the sale, the vice president now directly owns 21,412 shares of the company’s stock, valued at approximately $1,290,929.48. The disclosure for this sale can be found here. Insiders have sold 61,649 shares of company stock valued at $4,620,544 over the last quarter. Company insiders own 4.20% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in NEOG. Bell Bank bought a new stake in Neogen in the 3rd quarter worth approximately $201,000. Parametrica Management Ltd bought a new stake in Neogen in the 3rd quarter worth approximately $202,000. Arcadia Investment Management Corp MI bought a new stake in Neogen in the 3rd quarter worth approximately $230,000. North Star Asset Management Inc. bought a new stake in Neogen in the 4th quarter worth approximately $274,000. Finally, Shelton Capital Management bought a new stake in Neogen in the 2nd quarter worth approximately $261,000. 66.49% of the stock is owned by institutional investors.

Shares of Neogen (NASDAQ:NEOG) traded down $0.08 on Thursday, reaching $59.10. 164,584 shares of the company’s stock traded hands, compared to its average volume of 134,723. Neogen has a twelve month low of $44.63 and a twelve month high of $64.42. The stock has a market capitalization of $3,045.01, a price-to-earnings ratio of 58.80, a PEG ratio of 3.60 and a beta of 1.46.

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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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