Zacks Research Comments on Neogen Co.’s FY2024 Earnings (NASDAQ:NEOG)

Neogen Co. (NASDAQ:NEOG) – Stock analysts at Zacks Research decreased their FY2024 earnings per share estimates for shares of Neogen in a research note issued on Tuesday, April 30th. Zacks Research analyst R. Department now forecasts that the company will earn $0.46 per share for the year, down from their prior estimate of $0.54. The consensus estimate for Neogen’s current full-year earnings is $0.46 per share. Zacks Research also issued estimates for Neogen’s Q4 2024 earnings at $0.12 EPS, Q1 2025 earnings at $0.13 EPS, Q2 2025 earnings at $0.14 EPS, Q3 2025 earnings at $0.16 EPS, Q4 2025 earnings at $0.14 EPS and FY2025 earnings at $0.57 EPS.

Separately, Piper Sandler dropped their price target on Neogen from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, April 15th.

Neogen Stock Down 3.5 %

NEOG opened at $12.02 on Thursday. Neogen has a 1-year low of $11.46 and a 1-year high of $24.09. The stock’s fifty day simple moving average is $14.51 and its 200 day simple moving average is $16.24. The company has a current ratio of 3.82, a quick ratio of 2.66 and a debt-to-equity ratio of 0.28. The stock has a market cap of $2.60 billion, a PE ratio of 1,203.20 and a beta of 1.18.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings results on Tuesday, April 9th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). Neogen had a net margin of 0.17% and a return on equity of 3.35%. The business had revenue of $228.80 million during the quarter, compared to the consensus estimate of $230.01 million. During the same quarter last year, the company posted $0.12 EPS. The firm’s revenue was up 4.8% on a year-over-year basis.

Institutional Trading of Neogen

Institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. raised its position in Neogen by 5.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 12,900 shares of the company’s stock valued at $259,000 after purchasing an additional 711 shares in the last quarter. United Services Automobile Association raised its holdings in shares of Neogen by 5.4% during the 3rd quarter. United Services Automobile Association now owns 14,747 shares of the company’s stock worth $273,000 after buying an additional 759 shares in the last quarter. Sheets Smith Wealth Management lifted its position in shares of Neogen by 2.6% during the 4th quarter. Sheets Smith Wealth Management now owns 30,795 shares of the company’s stock worth $619,000 after buying an additional 771 shares during the last quarter. Simmons Bank lifted its position in shares of Neogen by 4.1% during the 3rd quarter. Simmons Bank now owns 19,740 shares of the company’s stock worth $366,000 after buying an additional 775 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in Neogen by 1.4% in the third quarter. Arizona State Retirement System now owns 58,486 shares of the company’s stock valued at $1,084,000 after buying an additional 790 shares in the last quarter. Institutional investors own 96.73% of the company’s stock.

Insiders Place Their Bets

In other Neogen news, Director James C. Borel bought 7,500 shares of the firm’s stock in a transaction on Thursday, April 11th. The shares were purchased at an average price of $13.06 per share, for a total transaction of $97,950.00. Following the transaction, the director now directly owns 21,392 shares in the company, valued at approximately $279,379.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO John Edward Adent purchased 23,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was acquired at an average price of $12.36 per share, with a total value of $284,280.00. Following the completion of the purchase, the chief executive officer now directly owns 152,389 shares in the company, valued at $1,883,528.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James C. Borel acquired 7,500 shares of Neogen stock in a transaction on Thursday, April 11th. The shares were purchased at an average price of $13.06 per share, for a total transaction of $97,950.00. Following the completion of the purchase, the director now directly owns 21,392 shares of the company’s stock, valued at $279,379.52. The disclosure for this purchase can be found here. Insiders acquired 53,000 shares of company stock worth $662,205 in the last quarter. 0.71% of the stock is currently owned by corporate insiders.

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.