Neogen Co. (NASDAQ:NEOG) – Analysts at William Blair boosted their FY2021 earnings per share (EPS) estimates for shares of Neogen in a research note issued to investors on Monday, June 7th. William Blair analyst J. Kreger now forecasts that the company will post earnings per share of $0.59 for the year, up from their previous forecast of $0.59. William Blair also issued estimates for Neogen’s Q4 2021 earnings at $0.16 EPS, Q3 2022 earnings at $0.15 EPS, Q4 2022 earnings at $0.19 EPS, FY2022 earnings at $0.66 EPS and FY2023 earnings at $0.73 EPS.
Neogen (NASDAQ:NEOG) last announced its earnings results on Monday, March 22nd. The company reported $0.06 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.06. The company had revenue of $116.70 million during the quarter, compared to analyst estimates of $106.72 million. Neogen had a net margin of 13.66% and a return on equity of 8.03%. Neogen’s revenue was up 17.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.06 earnings per share.
Shares of NEOG opened at $45.02 on Thursday. The firm has a market capitalization of $4.82 billion, a PE ratio of 38.81 and a beta of 0.49. Neogen has a 1 year low of $33.11 and a 1 year high of $48.85. The stock’s 50-day simple moving average is $25.89.
A number of hedge funds have recently added to or reduced their stakes in NEOG. Signaturefd LLC grew its position in shares of Neogen by 56.3% during the fourth quarter. Signaturefd LLC now owns 372 shares of the company’s stock worth $29,000 after acquiring an additional 134 shares during the last quarter. CWM LLC purchased a new position in Neogen in the 1st quarter valued at $36,000. Endurance Wealth Management Inc. purchased a new position in Neogen in the 1st quarter valued at $47,000. Sageworth Trust Co purchased a new position in Neogen in the 1st quarter valued at $87,000. Finally, Veriti Management LLC purchased a new position in Neogen in the 4th quarter valued at $127,000. 92.26% of the stock is currently owned by institutional investors.
In related news, Director Bruce Papesh sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 25th. The shares were sold at an average price of $85.42, for a total value of $597,940.00. Following the sale, the director now owns 40,261 shares of the company’s stock, valued at $3,439,094.62. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Jason Warren Lilly sold 993 shares of the firm’s stock in a transaction that occurred on Tuesday, April 13th. The shares were sold at an average price of $92.25, for a total transaction of $91,604.25. Following the completion of the sale, the vice president now directly owns 10,353 shares in the company, valued at approximately $955,064.25. The disclosure for this sale can be found here. Insiders have sold 95,380 shares of company stock worth $8,474,555 in the last three months. Corporate insiders own 0.90% 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 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 for adenosine triphosphate, a chemical found in living cells.
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