FY2024 Earnings Forecast for Neogen Co. (NASDAQ:NEOG) Issued By William Blair

Neogen Co. (NASDAQ:NEOG - Free Report) - Investment analysts at William Blair lowered their FY2024 earnings per share estimates for shares of Neogen in a research report issued to clients and investors on Tuesday, April 9th. William Blair analyst B. Vazquez now expects that the company will post earnings of $0.46 per share for the year, down from their prior forecast of $0.54. The consensus estimate for Neogen's current full-year earnings is $0.54 per share. William Blair also issued estimates for Neogen's Q4 2024 earnings at $0.11 EPS, Q1 2025 earnings at $0.12 EPS, Q2 2025 earnings at $0.13 EPS, Q3 2025 earnings at $0.15 EPS, Q4 2025 earnings at $0.15 EPS and FY2025 earnings at $0.55 EPS.

Neogen (NASDAQ:NEOG - Get Free Report) last issued its earnings results on Tuesday, April 9th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.02). The business had revenue of $228.80 million during the quarter, compared to analyst estimates of $230.01 million. Neogen had a return on equity of 3.35% and a net margin of 1.28%. The business's quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the business earned $0.12 EPS.

Separately, Piper Sandler boosted their target price on Neogen from $17.50 to $19.00 and gave the company a "neutral" rating in a research note on Thursday, January 18th.

Neogen Stock Up 4.0 %

Shares of Neogen stock traded up $0.50 during midday trading on Thursday, hitting $13.00. The company's stock had a trading volume of 5,012,364 shares, compared to its average volume of 2,062,201. The stock has a 50-day simple moving average of $15.88 and a 200-day simple moving average of $16.77. The company has a quick ratio of 2.63, a current ratio of 3.54 and a debt-to-equity ratio of 0.28. Neogen has a 1-year low of $12.18 and a 1-year high of $24.09. The firm has a market capitalization of $2.81 billion, a P/E ratio of 216.70 and a beta of 1.13.

Insider Transactions at Neogen

In related news, CEO John Edward Adent purchased 23,000 shares of the firm's stock in a transaction dated Wednesday, April 10th. The stock was bought at an average price of $12.36 per share, for a total transaction of $284,280.00. Following the purchase, the chief executive officer now owns 152,389 shares in the company, valued at approximately $1,883,528.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Neogen news, CFO David H. Naemura acquired 12,500 shares of the business's stock in a transaction that occurred on Wednesday, April 10th. The stock was acquired at an average price of $12.51 per share, with a total value of $156,375.00. Following the transaction, the chief financial officer now owns 30,040 shares of the company's stock, valued at $375,800.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John Edward Adent acquired 23,000 shares of the business's stock in a transaction that occurred on Wednesday, April 10th. The shares were acquired at an average cost of $12.36 per share, with a total value of $284,280.00. Following the transaction, the chief executive officer now directly owns 152,389 shares in the company, valued at approximately $1,883,528.04. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 43,000 shares of company stock worth $538,605. 0.71% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Neogen

Several large investors have recently added to or reduced their stakes in NEOG. Steward Partners Investment Advisory LLC acquired a new position in Neogen in the 1st quarter valued at approximately $29,000. O Dell Group LLC acquired a new position in shares of Neogen in the 4th quarter worth approximately $37,000. State of Tennessee Treasury Department acquired a new position in shares of Neogen in the 1st quarter worth approximately $45,000. International Assets Investment Management LLC acquired a new position in shares of Neogen in the 3rd quarter worth approximately $49,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Neogen by 416.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,033 shares of the company's stock worth $56,000 after buying an additional 2,446 shares in the last quarter. Institutional investors and hedge funds own 96.73% of the company's stock.

About Neogen

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.