According to Zacks, “Neogen has underperformed its industry over the past six months. The company’s Animal Safety segment is currently displaying poor performance. Chaotic economic conditions in the production animal market, the U.S.-China trade war along with lower sales to animal protein market distributor partners are hampering growth. Moreover, negative currency movement continue to be a concern. Neogen’s strength in international business and solid performance by the core Food Safety and genomic product lines resulted in year-over-year revenue growth in the last-reported quarter. The quarter marked the 108th of the past 113 quarters of year-over-year revenue increase. Per management, the company witnessed revenue growth in Europe, Brazil, Mexico, China and India along with other geographies in the quarter under review.We are also upbeat about Neogen’s recent launch of coconut food allergen test kits”
A number of other research analysts have also recently weighed in on the company. Craig Hallum upgraded Neogen from a hold rating to a buy rating and set a $62.76 price target for the company in a research report on Tuesday, March 19th. BidaskClub cut Neogen from a sell rating to a strong sell rating in a research report on Saturday, March 9th. Finally, ValuEngine cut Neogen from a buy rating to a hold rating in a research report on Wednesday, January 30th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Neogen currently has an average rating of Hold and a consensus price target of $62.76.
Neogen stock opened at $56.60 on Monday. Neogen has a one year low of $50.60 and a one year high of $97.38. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 46.78, a price-to-earnings-growth ratio of 5.24 and a beta of 1.33.
Neogen (NASDAQ:NEOG) last released its earnings results on Tuesday, March 26th. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Neogen had a net margin of 14.96% and a return on equity of 10.48%. The business had revenue of $97.70 million during the quarter, compared to analyst estimates of $102.55 million. During the same period last year, the business posted $0.32 EPS. Neogen’s revenue was up 3.0% compared to the same quarter last year. Equities research analysts expect that Neogen will post 1.12 EPS for the current year.
In other news, Director Jack C. Parnell sold 9,883 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $56.98, for a total value of $563,133.34. Following the completion of the transaction, the director now owns 18,655 shares in the company, valued at $1,062,961.90. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director James L. Herbert sold 41,000 shares of the firm’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $56.09, for a total value of $2,299,690.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 103,385 shares of company stock valued at $6,027,055. Company insiders own 3.00% of the company’s stock.
A number of institutional investors have recently bought and sold shares of NEOG. Rehmann Capital Advisory Group lifted its stake in shares of Neogen by 8.6% in the 1st quarter. Rehmann Capital Advisory Group now owns 4,976 shares of the company’s stock valued at $286,000 after purchasing an additional 392 shares in the last quarter. RMB Capital Management LLC lifted its stake in shares of Neogen by 79.5% in the 1st quarter. RMB Capital Management LLC now owns 56,549 shares of the company’s stock valued at $3,245,000 after purchasing an additional 25,051 shares in the last quarter. Zebra Capital Management LLC lifted its stake in shares of Neogen by 17.6% in the 1st quarter. Zebra Capital Management LLC now owns 10,793 shares of the company’s stock valued at $619,000 after purchasing an additional 1,615 shares in the last quarter. SEI Investments Co lifted its stake in shares of Neogen by 100.7% in the 1st quarter. SEI Investments Co now owns 16,461 shares of the company’s stock valued at $986,000 after purchasing an additional 8,259 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its stake in shares of Neogen by 17.9% in the 1st quarter. Hsbc Holdings PLC now owns 15,444 shares of the company’s stock valued at $887,000 after purchasing an additional 2,350 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.
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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