Neogen (NASDAQ:NEOG) Posts Earnings Results, Misses Estimates By $0.04 EPS

Neogen (NASDAQ:NEOG) released its quarterly earnings data on Tuesday. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.04), Briefing.com reports. The business had revenue of $99.60 million during the quarter, compared to the consensus estimate of $102.42 million. Neogen had a return on equity of 8.73% and a net margin of 14.07%. The business’s revenue was up 1.9% on a year-over-year basis. During the same period last year, the company earned $0.25 EPS.

NASDAQ:NEOG opened at $56.16 on Thursday. The company has a market capitalization of $3.23 billion, a P/E ratio of 50.14, a P/E/G ratio of 5.24 and a beta of 1.31. Neogen has a 12 month low of $48.91 and a 12 month high of $79.83. The business’s 50-day moving average is $64.92 and its 200 day moving average is $66.80.

A number of equities research analysts recently commented on NEOG shares. BidaskClub upgraded Neogen from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Stephens started coverage on Neogen in a research report on Monday, February 10th. They issued an “overweight” rating and a $88.00 target price on the stock. Roth Capital reiterated a “neutral” rating on shares of Neogen in a research report on Tuesday, December 31st. Zacks Investment Research downgraded Neogen from a “hold” rating to a “sell” rating and set a $64.00 target price on the stock. in a research report on Monday, March 2nd. Finally, TheStreet downgraded Neogen from a “b-” rating to a “c” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $76.67.

In other Neogen news, VP Jason Warren Lilly sold 7,107 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.75, for a total transaction of $517,034.25. Following the sale, the vice president now directly owns 18,401 shares in the company, valued at $1,338,672.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James L. Herbert sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $68.33, for a total value of $2,049,900.00. Following the sale, the director now owns 176,970 shares in the company, valued at $12,092,360.10. The disclosure for this sale can be found here. Insiders sold 75,477 shares of company stock worth $5,106,022 over the last quarter. 1.70% of the stock is owned by company insiders.

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.

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Earnings History for Neogen (NASDAQ:NEOG)

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