Roth Capital Reaffirms “Neutral” Rating for Neogen (NASDAQ:NEOG)

Roth Capital restated their neutral rating on shares of Neogen (NASDAQ:NEOG) in a report released on Tuesday morning, Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. BidaskClub cut shares of Neogen from a hold rating to a sell rating in a research note on Friday, December 27th. ValuEngine cut shares of Neogen from a buy rating to a hold rating in a research note on Friday, September 27th. Finally, Zacks Investment Research raised shares of Neogen from a sell rating to a hold rating and set a $71.00 price target for the company in a research note on Wednesday, November 27th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $74.50.

Shares of NASDAQ:NEOG opened at $64.67 on Tuesday. Neogen has a 52 week low of $50.60 and a 52 week high of $79.83. The stock has a market capitalization of $3.44 billion, a P/E ratio of 56.23, a PEG ratio of 5.47 and a beta of 1.37. The firm has a fifty day simple moving average of $66.66 and a two-hundred day simple moving average of $66.99.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings data on Monday, December 23rd. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). Neogen had a return on equity of 9.17% and a net margin of 14.35%. The business had revenue of $107.80 million during the quarter, compared to analysts’ expectations of $109.93 million. During the same period in the previous year, the business earned $0.31 earnings per share. The business’s quarterly revenue was up .7% on a year-over-year basis. On average, equities research analysts forecast that Neogen will post 1.19 earnings per share for the current year.

In other news, Director James L. Herbert sold 25,334 shares of Neogen stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $63.71, for a total value of $1,614,029.14. Following the transaction, the director now owns 232,304 shares of the company’s stock, valued at approximately $14,800,087.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Terri A. Morrical sold 7,601 shares of Neogen stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $65.45, for a total transaction of $497,485.45. Following the completion of the transaction, the vice president now directly owns 45,176 shares in the company, valued at approximately $2,956,769.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 247,349 shares of company stock valued at $16,201,016. Company insiders own 1.70% of the company’s stock.

Several institutional investors have recently modified their holdings of NEOG. Private Capital Group LLC grew its position in Neogen by 16.0% during the 2nd quarter. Private Capital Group LLC now owns 1,208 shares of the company’s stock worth $97,000 after purchasing an additional 167 shares during the last quarter. Captrust Financial Advisors grew its position in Neogen by 20.0% during the 2nd quarter. Captrust Financial Advisors now owns 1,135 shares of the company’s stock worth $70,000 after purchasing an additional 189 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Neogen by 1.1% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 25,822 shares of the company’s stock worth $1,604,000 after purchasing an additional 270 shares during the last quarter. Texas Permanent School Fund grew its position in Neogen by 0.8% during the 3rd quarter. Texas Permanent School Fund now owns 35,651 shares of the company’s stock worth $2,428,000 after purchasing an additional 279 shares during the last quarter. Finally, Executive Wealth Management LLC grew its position in Neogen by 124.2% during the 3rd quarter. Executive Wealth Management LLC now owns 509 shares of the company’s stock worth $34,000 after purchasing an additional 282 shares during the last quarter. 92.18% of the stock is currently owned by hedge funds and other institutional investors.

About Neogen

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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