Zacks Research Analysts Reduce Earnings Estimates for Neogen

Neogen Co. (NASDAQ:NEOG) – Investment analysts at Zacks Research dropped their FY2027 earnings estimates for shares of Neogen in a research note issued to investors on Monday, March 3rd. Zacks Research analyst R. Department now anticipates that the company will post earnings per share of $0.56 for the year, down from their previous forecast of $0.57. The consensus estimate for Neogen’s current full-year earnings is $0.38 per share.

Other equities analysts also recently issued research reports about the stock. Guggenheim began coverage on shares of Neogen in a report on Thursday, December 19th. They issued a “buy” rating and a $15.00 price target on the stock. Piper Sandler reiterated a “neutral” rating and set a $13.00 price objective (down previously from $16.50) on shares of Neogen in a research note on Tuesday, January 21st.

Neogen Price Performance

Shares of NEOG opened at $9.54 on Wednesday. Neogen has a 1-year low of $9.01 and a 1-year high of $18.58. The firm has a market capitalization of $2.07 billion, a PE ratio of -4.36 and a beta of 1.27. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.77 and a quick ratio of 2.46. The company’s fifty day moving average price is $11.24 and its 200-day moving average price is $13.62.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings results on Friday, January 10th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.12. The business had revenue of $231.30 million for the quarter, compared to analyst estimates of $227.16 million. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. Neogen’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.11 EPS.

Insider Activity

In other Neogen news, CEO John Edward Adent bought 23,035 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were purchased at an average cost of $11.03 per share, for a total transaction of $254,076.05. Following the transaction, the chief executive officer now directly owns 269,164 shares of the company’s stock, valued at approximately $2,968,878.92. The trade was a 9.36 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO David H. Naemura purchased 14,800 shares of Neogen stock in a transaction that occurred on Thursday, January 16th. The stock was acquired at an average cost of $11.11 per share, with a total value of $164,428.00. Following the acquisition, the chief financial officer now directly owns 61,434 shares in the company, valued at $682,531.74. This trade represents a 31.74 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.13% of the company’s stock.

Institutional Trading of Neogen

Several institutional investors have recently bought and sold shares of NEOG. Vanguard Group Inc. raised its stake in shares of Neogen by 9.8% during the 4th quarter. Vanguard Group Inc. now owns 21,637,251 shares of the company’s stock worth $262,676,000 after buying an additional 1,928,491 shares during the period. Norges Bank purchased a new stake in Neogen in the 4th quarter worth $212,171,000. William Blair Investment Management LLC raised its position in Neogen by 8.1% during the fourth quarter. William Blair Investment Management LLC now owns 14,346,759 shares of the company’s stock worth $174,170,000 after acquiring an additional 1,074,825 shares during the period. Bamco Inc. NY lifted its holdings in Neogen by 16.2% during the fourth quarter. Bamco Inc. NY now owns 8,485,308 shares of the company’s stock valued at $103,012,000 after purchasing an additional 1,182,193 shares in the last quarter. Finally, State Street Corp grew its position in shares of Neogen by 3.1% in the third quarter. State Street Corp now owns 7,932,192 shares of the company’s stock valued at $133,340,000 after purchasing an additional 236,762 shares during the period. 96.73% of the stock is owned by institutional investors and hedge funds.

Neogen Company Profile

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.