Brokerages Set Neogen (NEOG) Target Price at $62.33

Neogen (NASDAQ:NEOG) has been assigned a consensus recommendation of “Hold” from the seven analysts that are covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $62.33.

A number of equities analysts have commented on the stock. ValuEngine raised shares of Neogen from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Zacks Investment Research cut shares of Neogen from a “buy” rating to a “hold” rating in a research report on Thursday, March 29th. Stephens reissued a “hold” rating and issued a $65.00 target price (up previously from $62.00) on shares of Neogen in a research report on Monday, March 26th. Finally, BidaskClub raised shares of Neogen from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 15th.

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In other news, VP Edward Bradley sold 7,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $59.60, for a total value of $417,200.00. Following the completion of the sale, the vice president now owns 12,735 shares of the company’s stock, valued at $759,006. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William T. Boehm sold 1,020 shares of the business’s stock in a transaction dated Tuesday, April 10th. The shares were sold at an average price of $67.94, for a total transaction of $69,298.80. Following the completion of the sale, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $679,400. The disclosure for this sale can be found here. In the last three months, insiders sold 151,654 shares of company stock valued at $10,235,286. 4.20% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its position in Neogen by 38.1% during the first quarter. BlackRock Inc. now owns 6,466,176 shares of the company’s stock worth $433,168,000 after purchasing an additional 1,784,124 shares during the period. Wasatch Advisors Inc. lifted its position in Neogen by 95.1% during the first quarter. Wasatch Advisors Inc. now owns 1,995,749 shares of the company’s stock worth $133,695,000 after purchasing an additional 972,709 shares during the period. King Luther Capital Management Corp lifted its position in Neogen by 32.1% during the first quarter. King Luther Capital Management Corp now owns 958,914 shares of the company’s stock worth $64,238,000 after purchasing an additional 233,097 shares during the period. Stephens Investment Management Group LLC lifted its position in Neogen by 31.7% during the first quarter. Stephens Investment Management Group LLC now owns 938,011 shares of the company’s stock worth $62,837,000 after purchasing an additional 225,894 shares during the period. Finally, New York State Common Retirement Fund lifted its position in Neogen by 24.4% during the first quarter. New York State Common Retirement Fund now owns 1,043,842 shares of the company’s stock worth $69,927,000 after purchasing an additional 204,495 shares during the period. 73.59% of the stock is owned by institutional investors.

Neogen traded down $0.01, reaching $74.70, during midday trading on Tuesday, Marketbeat Ratings reports. 222,423 shares of the company were exchanged, compared to its average volume of 162,553. Neogen has a one year low of $45.46 and a one year high of $75.00. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of 86.86, a price-to-earnings-growth ratio of 4.35 and a beta of 1.27.

Neogen (NASDAQ:NEOG) last released its quarterly earnings data on Thursday, March 22nd. The company reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.08. Neogen had a net margin of 14.82% and a return on equity of 11.49%. The firm had revenue of $95.90 million during the quarter, compared to analysts’ expectations of $97.93 million. During the same period in the previous year, the business posted $0.27 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. research analysts expect that Neogen will post 1.14 EPS for the current fiscal year.

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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