Zacks Research Issues Negative Estimate for Neogen Earnings

Neogen Co. (NASDAQ:NEOG - Free Report) - Analysts at Zacks Research dropped their Q2 2027 earnings estimates for Neogen in a report issued on Wednesday, June 4th. Zacks Research analyst R. Department now expects that the company will earn $0.12 per share for the quarter, down from their prior forecast of $0.13. The consensus estimate for Neogen's current full-year earnings is $0.38 per share.

Several other research firms have also commented on NEOG. Guggenheim reduced their price target on shares of Neogen from $15.00 to $13.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Piper Sandler cut their target price on shares of Neogen from $6.40 to $5.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd.

Neogen Stock Performance

NEOG stock traded down $0.08 during trading on Monday, reaching $5.62. The stock had a trading volume of 5,209,687 shares, compared to its average volume of 3,215,618. The firm has a market cap of $1.22 billion, a PE ratio of -2.57 and a beta of 1.84. The company has a current ratio of 3.77, a quick ratio of 2.46 and a debt-to-equity ratio of 0.33. The stock's 50 day moving average is $5.69 and its two-hundred day moving average is $9.24. Neogen has a 52 week low of $3.87 and a 52 week high of $18.58.

Neogen (NASDAQ:NEOG - Get Free Report) last released its quarterly earnings results on Wednesday, April 9th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.02). Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The firm had revenue of $221.00 million for the quarter, compared to the consensus estimate of $225.27 million. During the same period in the previous year, the company earned $0.12 earnings per share. Neogen's quarterly revenue was down 3.4% compared to the same quarter last year.

Insider Buying and Selling

In other news, Director Aashima Gupta bought 16,000 shares of the firm's stock in a transaction on Monday, May 12th. The shares were bought at an average price of $6.25 per share, for a total transaction of $100,000.00. Following the purchase, the director now owns 21,917 shares in the company, valued at approximately $136,981.25. The trade was a 270.41% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James P. Tobin purchased 10,000 shares of the stock in a transaction on Tuesday, April 22nd. The shares were purchased at an average cost of $4.73 per share, for a total transaction of $47,300.00. Following the acquisition, the director now directly owns 37,474 shares of the company's stock, valued at approximately $177,252.02. This represents a 36.40% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 83,500 shares of company stock valued at $431,525. 1.13% of the stock is owned by company insiders.

Institutional Trading of Neogen

Several institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank purchased a new stake in Neogen in the 4th quarter worth $212,171,000. Gates Capital Management Inc. bought a new position in shares of Neogen in the first quarter worth about $79,391,000. Clarkston Capital Partners LLC grew its position in shares of Neogen by 118.9% during the first quarter. Clarkston Capital Partners LLC now owns 6,276,075 shares of the company's stock worth $54,414,000 after purchasing an additional 3,409,409 shares in the last quarter. Millennium Management LLC bought a new stake in Neogen during the 1st quarter valued at approximately $20,761,000. Finally, Vanguard Group Inc. lifted its holdings in Neogen by 9.8% in the 4th quarter. Vanguard Group Inc. now owns 21,637,251 shares of the company's stock worth $262,676,000 after purchasing an additional 1,928,491 shares in the last quarter. 96.73% of the stock is currently owned by institutional investors.

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.