Neogen (NASDAQ:NEOG) Downgraded by BidaskClub to “Sell”

BidaskClub lowered shares of Neogen (NASDAQ:NEOG) from a hold rating to a sell rating in a research note issued to investors on Saturday, November 9th, BidAskClub reports.

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Several other analysts have also recently weighed in on NEOG. Craig Hallum upped their price objective on shares of Neogen from $72.00 to $78.00 and gave the stock an in-line rating in a research note on Wednesday, July 24th. Zacks Investment Research cut shares of Neogen from a hold rating to a sell rating and set a $70.00 price objective on the stock. in a research note on Friday, October 18th. Finally, ValuEngine cut shares of Neogen from a buy rating to a hold rating in a research note on Friday, September 27th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock has a consensus rating of Hold and an average price target of $74.00.

NASDAQ:NEOG traded up $0.59 during mid-day trading on Friday, reaching $64.94. The stock had a trading volume of 157,900 shares, compared to its average volume of 133,378. Neogen has a 1-year low of $50.60 and a 1-year high of $79.83. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of 56.47, a price-to-earnings-growth ratio of 5.29 and a beta of 1.37. The stock’s 50 day simple moving average is $64.99 and its two-hundred day simple moving average is $65.10.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings results on Tuesday, September 24th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.01). The business had revenue of $101.42 million during the quarter, compared to analyst estimates of $105.16 million. Neogen had a return on equity of 9.46% and a net margin of 14.32%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period last year, the company earned $0.29 EPS. As a group, analysts predict that Neogen will post 1.22 EPS for the current fiscal year.

In other Neogen news, CFO Steven J. Quinlan sold 4,801 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $65.00, for a total value of $312,065.00. Following the sale, the chief financial officer now directly owns 18,271 shares in the company, valued at $1,187,615. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James L. Herbert sold 20,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $67.17, for a total transaction of $1,343,400.00. Following the completion of the sale, the director now owns 216,970 shares in the company, valued at $14,573,874.90. The disclosure for this sale can be found here. Insiders sold 158,069 shares of company stock worth $10,331,742 over the last 90 days. 1.70% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Bridge City Capital LLC grew its position in Neogen by 0.5% in the second quarter. Bridge City Capital LLC now owns 31,541 shares of the company’s stock valued at $1,959,000 after purchasing an additional 154 shares in the last quarter. Private Capital Group LLC grew its position in Neogen by 16.0% in the second quarter. Private Capital Group LLC now owns 1,208 shares of the company’s stock valued at $97,000 after purchasing an additional 167 shares in the last quarter. State of Alaska Department of Revenue grew its position in Neogen by 1.1% in the second quarter. State of Alaska Department of Revenue now owns 17,740 shares of the company’s stock valued at $1,101,000 after purchasing an additional 189 shares in the last quarter. Captrust Financial Advisors grew its position in Neogen by 20.0% in the second quarter. Captrust Financial Advisors now owns 1,135 shares of the company’s stock valued at $70,000 after purchasing an additional 189 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan grew its position in Neogen by 1.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 15,580 shares of the company’s stock valued at $968,000 after purchasing an additional 270 shares in the last quarter. 89.86% of the stock is owned by institutional investors and hedge funds.

About Neogen

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.

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