$103.47 Million in Sales Expected for Neogen Co. (NEOG) This Quarter

Wall Street analysts expect Neogen Co. (NASDAQ:NEOG) to announce sales of $103.47 million for the current quarter, Zacks reports. Three analysts have issued estimates for Neogen’s earnings, with the highest sales estimate coming in at $104.30 million and the lowest estimate coming in at $102.00 million. Neogen reported sales of $95.26 million during the same quarter last year, which would suggest a positive year over year growth rate of 8.6%. The company is expected to announce its next earnings results on Tuesday, September 18th.

According to Zacks, analysts expect that Neogen will report full-year sales of $437.01 million for the current financial year, with estimates ranging from $430.00 million to $440.60 million. For the next financial year, analysts expect that the business will report sales of $471.70 million per share, with estimates ranging from $465.00 million to $478.40 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Neogen.

Neogen (NASDAQ:NEOG) last released its earnings results on Tuesday, July 17th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. Neogen had a net margin of 15.70% and a return on equity of 11.97%. The business had revenue of $109.29 million for the quarter, compared to the consensus estimate of $108.11 million. During the same period in the previous year, the firm earned $0.24 EPS. The business’s revenue for the quarter was up 10.6% on a year-over-year basis.

A number of analysts recently commented on the stock. Craig Hallum boosted their target price on shares of Neogen from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Wednesday, July 18th. ValuEngine upgraded shares of Neogen from a “buy” rating to a “strong-buy” rating in a report on Friday, July 6th. BidaskClub upgraded shares of Neogen from a “buy” rating to a “strong-buy” rating in a report on Friday, June 15th. Finally, Zacks Investment Research downgraded shares of Neogen from a “hold” rating to a “sell” rating in a report on Thursday, May 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a strong buy rating to the stock. Neogen has an average rating of “Buy” and an average target price of $67.75.

In other news, VP Terri A. Morrical sold 15,468 shares of the business’s stock in a transaction that occurred on Friday, July 20th. The shares were sold at an average price of $82.14, for a total transaction of $1,270,541.52. Following the sale, the vice president now owns 53,043 shares in the company, valued at $4,356,952.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas H. Reed sold 5,333 shares of the business’s stock in a transaction that occurred on Friday, July 20th. The shares were sold at an average price of $82.56, for a total transaction of $440,292.48. Following the sale, the director now owns 8,040 shares in the company, valued at approximately $663,782.40. The disclosure for this sale can be found here. Insiders have sold 162,232 shares of company stock worth $12,595,215 in the last 90 days. 4.20% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in NEOG. We Are One Seven LLC grew its position in Neogen by 188.2% during the first quarter. We Are One Seven LLC now owns 1,591 shares of the company’s stock valued at $107,000 after purchasing an additional 1,039 shares in the last quarter. Marco Investment Management LLC purchased a new position in Neogen during the first quarter valued at approximately $201,000. World Asset Management Inc purchased a new position in Neogen during the second quarter valued at approximately $201,000. Concorde Asset Management LLC purchased a new position in Neogen during the second quarter valued at approximately $203,000. Finally, GWM Advisors LLC purchased a new position in Neogen during the first quarter valued at approximately $220,000. Institutional investors and hedge funds own 89.12% of the company’s stock.

Shares of Neogen traded down $1.78, reaching $81.02, during midday trading on Monday, according to Marketbeat Ratings. The company’s stock had a trading volume of 132,852 shares, compared to its average volume of 195,407. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.72 and a quick ratio of 7.75. Neogen has a one year low of $48.19 and a one year high of $84.77. The company has a market capitalization of $4.23 billion, a P/E ratio of 66.96 and a beta of 1.30.

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 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.

See Also: Price to Earnings Ratio (PE), For Valuing Stocks

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Earnings History and Estimates for Neogen (NASDAQ:NEOG)

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