Q2 2023 EPS Estimates for Neogen Co. Raised by William Blair (NASDAQ:NEOG)

Neogen Co. (NASDAQ:NEOGGet Rating) – Stock analysts at William Blair upped their Q2 2023 EPS estimates for shares of Neogen in a research note issued on Tuesday, November 22nd. William Blair analyst B. Vazquez now expects that the company will earn $0.14 per share for the quarter, up from their previous forecast of $0.13. William Blair has a “Outperform” rating on the stock. The consensus estimate for Neogen’s current full-year earnings is $0.59 per share. William Blair also issued estimates for Neogen’s Q3 2023 earnings at $0.14 EPS, FY2023 earnings at $0.59 EPS, Q1 2024 earnings at $0.15 EPS, Q3 2024 earnings at $0.16 EPS and FY2024 earnings at $0.64 EPS.

A number of other brokerages have also recently commented on NEOG. StockNews.com began coverage on Neogen in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Piper Sandler lowered their price target on Neogen from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Monday, October 10th.

Neogen Trading Up 2.0 %

Neogen stock opened at $16.20 on Wednesday. The company has a market cap of $1.75 billion, a PE ratio of 47.65 and a beta of 0.72. The company’s 50-day moving average is $13.85 and its two-hundred day moving average is $19.74. Neogen has a 1 year low of $10.49 and a 1 year high of $47.80.

Insider Activity

In other Neogen news, COO Douglas Edward Jones bought 7,000 shares of the stock in a transaction that occurred on Wednesday, September 28th. The stock was acquired at an average cost of $14.31 per share, with a total value of $100,170.00. Following the purchase, the chief operating officer now owns 9,759 shares in the company, valued at $139,651.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Neogen news, CFO Steven J. Quinlan bought 5,000 shares of the stock in a transaction that occurred on Tuesday, October 11th. The stock was acquired at an average cost of $11.63 per share, with a total value of $58,150.00. Following the purchase, the chief financial officer now owns 32,722 shares in the company, valued at $380,556.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Douglas Edward Jones bought 7,000 shares of the stock in a transaction that occurred on Wednesday, September 28th. The shares were acquired at an average cost of $14.31 per share, with a total value of $100,170.00. Following the completion of the purchase, the chief operating officer now owns 9,759 shares in the company, valued at approximately $139,651.29. The disclosure for this purchase can be found here. Insiders purchased a total of 36,000 shares of company stock valued at $502,220 in the last ninety days. 0.73% of the stock is owned by insiders.

Institutional Trading of Neogen

A number of large investors have recently bought and sold shares of the business. ExodusPoint Capital Management LP bought a new position in shares of Neogen during the 2nd quarter worth approximately $4,748,000. Walleye Capital LLC bought a new position in shares of Neogen during the 2nd quarter worth approximately $1,327,000. Goldman Sachs Group Inc. grew its stake in shares of Neogen by 11.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,026,956 shares of the company’s stock worth $24,739,000 after acquiring an additional 102,067 shares in the last quarter. First Republic Investment Management Inc. grew its stake in shares of Neogen by 12.6% during the 2nd quarter. First Republic Investment Management Inc. now owns 29,427 shares of the company’s stock worth $709,000 after acquiring an additional 3,302 shares in the last quarter. Finally, United Services Automobile Association bought a new position in shares of Neogen during the 2nd quarter worth approximately $279,000. 97.86% of the stock is owned by institutional investors.

Neogen Company Profile

(Get Rating)

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 offers diagnostic test kits and related products to detect dangerous and unintended substances in food and animal feed, including 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 to detect the presence of adenosine triphosphate, a chemical found in living cells.

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Earnings History and Estimates for Neogen (NASDAQ:NEOG)

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