William Blair Research Analysts Raise Earnings Estimates for Neogen (NEOG)

Neogen (NASDAQ:NEOG) – William Blair lifted their Q4 2018 earnings estimates for shares of Neogen in a research note issued on Thursday. William Blair analyst B. Weinstein now anticipates that the company will post earnings of $0.31 per share for the quarter, up from their prior forecast of $0.30. William Blair also issued estimates for Neogen’s Q1 2019 earnings at $0.29 EPS, Q2 2019 earnings at $0.31 EPS, Q3 2019 earnings at $0.29 EPS and FY2019 earnings at $1.25 EPS.

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Neogen (NASDAQ:NEOG) last posted its earnings results on Thursday, March 22nd. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.08. The firm had revenue of $95.90 million during the quarter, compared to analysts’ expectations of $97.93 million. Neogen had a return on equity of 11.49% and a net margin of 14.82%. The company’s revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.27 earnings per share.

Several other research firms have also recently weighed in on NEOG. Zacks Investment Research cut Neogen from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. Stephens reaffirmed a “hold” rating and set a $65.00 price objective on shares of Neogen in a research report on Monday. BidaskClub raised Neogen from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 15th. Roth Capital began coverage on Neogen in a research report on Tuesday, December 5th. They set a “neutral” rating and a $61.50 price objective for the company. Finally, Craig Hallum upped their price objective on Neogen from $46.50 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, December 7th. Five research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. Neogen has an average rating of “Hold” and a consensus target price of $64.00.

Neogen (NEOG) opened at $66.15 on Monday. The company has a current ratio of 9.44, a quick ratio of 7.37 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $3,204.19, a PE ratio of 58.93, a PEG ratio of 3.85 and a beta of 1.42. Neogen has a 52-week low of $44.63 and a 52-week high of $66.24.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Louisiana State Employees Retirement System boosted its position in Neogen by 5.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 16,400 shares of the company’s stock valued at $1,348,000 after purchasing an additional 900 shares during the last quarter. Prudential Financial Inc. boosted its position in Neogen by 1.5% during the third quarter. Prudential Financial Inc. now owns 65,445 shares of the company’s stock valued at $5,069,000 after purchasing an additional 970 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Neogen by 3.0% during the third quarter. Russell Investments Group Ltd. now owns 33,512 shares of the company’s stock valued at $2,596,000 after purchasing an additional 979 shares during the last quarter. Cookson Peirce & Co. Inc. boosted its position in Neogen by 24.8% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 6,250 shares of the company’s stock valued at $514,000 after purchasing an additional 1,240 shares during the last quarter. Finally, Thomson Horstmann & Bryant Inc. boosted its position in Neogen by 7.9% during the fourth quarter. Thomson Horstmann & Bryant Inc. now owns 20,422 shares of the company’s stock valued at $1,678,000 after purchasing an additional 1,491 shares during the last quarter. 67.69% of the stock is owned by hedge funds and other institutional investors.

In other news, VP Edward Bradley sold 11,725 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $60.29, for a total transaction of $706,900.25. Following the completion of the transaction, the vice president now directly owns 21,412 shares of the company’s stock, valued at $1,290,929.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Steven J. Quinlan sold 2,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $60.15, for a total value of $120,300.00. Following the transaction, the chief financial officer now directly owns 15,470 shares of the company’s stock, valued at $930,520.50. The disclosure for this sale can be found here. Insiders have sold 66,382 shares of company stock valued at $3,939,913 over the last ninety days. 4.20% of the stock is owned by insiders.

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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.

Earnings History and Estimates for Neogen (NASDAQ:NEOG)

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