Stock analysts at Guggenheim began coverage on shares of Neogen (NASDAQ:NEOG) in a research note issued on Thursday, The Fly reports. The firm set a “neutral” rating on the stock.

A number of other research analysts have also recently commented on NEOG. ValuEngine upgraded Neogen from a “hold” rating to a “buy” rating in a report on Thursday, January 24th. BidaskClub cut Neogen from a “hold” rating to a “sell” rating in a report on Thursday, January 31st. Craig Hallum upgraded Neogen from a “hold” rating to a “buy” rating and set a $62.76 price target on the stock in a research note on Tuesday, March 19th. Finally, Zacks Investment Research cut Neogen from a “hold” rating to a “sell” rating in a research note on Thursday, March 28th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $62.76.

NEOG opened at $58.40 on Thursday. Neogen has a one year low of $50.60 and a one year high of $97.38. The company has a market capitalization of $3.05 billion, a P/E ratio of 48.26, a price-to-earnings-growth ratio of 5.24 and a beta of 1.33.

Neogen (NASDAQ:NEOG) last released its quarterly earnings data 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 quarter in the prior year, the company posted $0.32 earnings per share. The company’s revenue was up 3.0% on a year-over-year basis. Equities analysts anticipate that Neogen will post 1.12 EPS for the current fiscal year.

In other Neogen news, VP Terri A. Morrical sold 7,600 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $61.69, for a total transaction of $468,844.00. Following the transaction, the vice president now directly owns 45,175 shares in the company, valued at $2,786,845.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James L. Herbert sold 15,000 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $59.05, for a total value of $885,750.00. Following the transaction, the director now owns 671,484 shares in the company, valued at $39,651,130.20. The disclosure for this sale can be found here. Insiders have sold 103,385 shares of company stock worth $6,027,055 over the last 90 days. 3.00% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in Neogen by 0.8% in the first quarter. BlackRock Inc. now owns 7,482,989 shares of the company’s stock valued at $429,448,000 after acquiring an additional 59,751 shares in the last quarter. Wasatch Advisors Inc. boosted its stake in shares of Neogen by 23.4% during the first quarter. Wasatch Advisors Inc. now owns 2,597,553 shares of the company’s stock worth $149,074,000 after buying an additional 492,494 shares during the period. Conestoga Capital Advisors LLC boosted its stake in shares of Neogen by 1.7% during the first quarter. Conestoga Capital Advisors LLC now owns 1,546,058 shares of the company’s stock worth $88,728,000 after buying an additional 26,290 shares during the period. Neuberger Berman Group LLC boosted its stake in shares of Neogen by 8.0% during the first quarter. Neuberger Berman Group LLC now owns 910,657 shares of the company’s stock worth $52,263,000 after buying an additional 67,781 shares during the period. Finally, Norges Bank acquired a new stake in Neogen in the fourth quarter valued at about $49,259,000. Institutional investors own 88.81% of the company’s stock.

Neogen Company Profile

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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