Brokers Offer Predictions for Neogen Co.’s FY2024 Earnings (NASDAQ:NEOG)

Neogen Co. (NASDAQ:NEOG) – Investment analysts at Zacks Research reduced their FY2024 earnings per share estimates for shares of Neogen in a research note issued on Tuesday, April 30th. Zacks Research analyst R. Department now anticipates that the company will post earnings per share of $0.46 for the year, down from their previous estimate of $0.54. The consensus estimate for Neogen’s current full-year earnings is $0.50 per share. Zacks Research also issued estimates for Neogen’s Q4 2024 earnings at $0.12 EPS, Q1 2025 earnings at $0.13 EPS, Q2 2025 earnings at $0.14 EPS, Q3 2025 earnings at $0.16 EPS, Q4 2025 earnings at $0.14 EPS and FY2025 earnings at $0.57 EPS.

Separately, Piper Sandler lowered their target price on Neogen from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, April 15th.

Neogen Trading Down 0.6 %

NEOG opened at $12.25 on Thursday. The stock has a market cap of $2.65 billion, a PE ratio of 1,226.23 and a beta of 1.18. The company has a quick ratio of 2.66, a current ratio of 3.82 and a debt-to-equity ratio of 0.28. The business has a 50 day moving average of $14.71 and a 200-day moving average of $16.30. Neogen has a 52 week low of $11.46 and a 52 week high of $24.09.

Neogen (NASDAQ:NEOG) last released its quarterly earnings data on Tuesday, April 9th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.02). Neogen had a return on equity of 3.35% and a net margin of 0.17%. The business had revenue of $228.80 million during the quarter, compared to analysts’ expectations of $230.01 million. During the same quarter last year, the business posted $0.12 EPS. The company’s quarterly revenue was up 4.8% compared to the same quarter last year.

Institutional Trading of Neogen

A number of hedge funds and other institutional investors have recently bought and sold shares of NEOG. Allspring Global Investments Holdings LLC boosted its stake in Neogen by 416.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,033 shares of the company’s stock valued at $56,000 after buying an additional 2,446 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new position in Neogen during the third quarter valued at approximately $151,000. Moody National Bank Trust Division bought a new position in Neogen during the first quarter valued at approximately $161,000. Fifth Third Bancorp boosted its stake in Neogen by 10.7% during the third quarter. Fifth Third Bancorp now owns 9,967 shares of the company’s stock valued at $185,000 after buying an additional 966 shares during the last quarter. Finally, Savant Capital LLC boosted its stake in Neogen by 9.4% during the third quarter. Savant Capital LLC now owns 10,320 shares of the company’s stock valued at $191,000 after buying an additional 889 shares during the last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Insider Transactions at Neogen

In other Neogen news, COO Douglas Edward Jones purchased 10,000 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was purchased at an average price of $12.36 per share, for a total transaction of $123,600.00. Following the completion of the purchase, the chief operating officer now directly owns 46,131 shares of the company’s stock, valued at $570,179.16. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, COO Douglas Edward Jones acquired 10,000 shares of Neogen stock in a transaction that occurred on Wednesday, April 17th. The stock was bought at an average price of $12.36 per share, for a total transaction of $123,600.00. Following the completion of the transaction, the chief operating officer now owns 46,131 shares in the company, valued at $570,179.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James C. Borel acquired 7,500 shares of Neogen stock in a transaction that occurred on Thursday, April 11th. The shares were purchased at an average price of $13.06 per share, with a total value of $97,950.00. Following the transaction, the director now owns 21,392 shares of the company’s stock, valued at approximately $279,379.52. The disclosure for this purchase can be found here. Insiders acquired 53,000 shares of company stock worth $662,205 over the last quarter. 0.71% of the stock is currently owned by insiders.

About Neogen

Neogen Corporation, together with its subsidiaries, engages in the development, manufacture, and marketing of various products and services dedicated to 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, as well as provides genomics-based diagnostic technology and software systems that help testers to objectively analyze and store their results and perform analysis on the results from multiple locations over extended periods.