Zacks Research Has Weak Estimate for Neogen FY2027 Earnings

Neogen Co. (NASDAQ:NEOG - Free Report) - Investment analysts at Zacks Research decreased their FY2027 earnings per share estimates for shares of Neogen in a research report issued on Monday, March 3rd. Zacks Research analyst R. Department now forecasts that the company will post earnings per share of $0.56 for the year, down from their previous forecast of $0.57. The consensus estimate for Neogen's current full-year earnings is $0.38 per share.

Several other equities analysts have also recently weighed in on NEOG. Piper Sandler reaffirmed a "neutral" rating and issued a $13.00 price target (down previously from $16.50) on shares of Neogen in a research report on Tuesday, January 21st. Guggenheim began coverage on shares of Neogen in a research report on Thursday, December 19th. They issued a "buy" rating and a $15.00 price target on the stock.

Neogen Stock Up 4.2 %

NASDAQ NEOG traded up $0.42 during trading hours on Wednesday, hitting $10.40. The company's stock had a trading volume of 2,236,425 shares, compared to its average volume of 1,969,815. Neogen has a 52 week low of $9.01 and a 52 week high of $18.58. The company has a market capitalization of $2.26 billion, a PE ratio of -4.75 and a beta of 1.27. 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 company's 50-day simple moving average is $11.09 and its two-hundred day simple moving average is $13.51.

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Neogen (NASDAQ:NEOG - Get Free Report) last issued its earnings results on Friday, January 10th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.12. Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The company had revenue of $231.30 million during the quarter, compared to the consensus estimate of $227.16 million. During the same period last year, the business posted $0.11 EPS. The firm's revenue for the quarter was up .7% compared to the same quarter last year.

Insiders Place Their Bets

In other news, CFO David H. Naemura bought 14,800 shares of the company's stock in a transaction on Thursday, January 16th. The shares were purchased at an average price of $11.11 per share, with a total value of $164,428.00. Following the transaction, the chief financial officer now directly owns 61,434 shares in the company, valued at $682,531.74. This represents a 31.74 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Edward Adent purchased 23,035 shares of the firm's stock in a transaction dated Thursday, January 16th. The shares were bought at an average price of $11.03 per share, with a total value of $254,076.05. Following the purchase, the chief executive officer now owns 269,164 shares in the company, valued at $2,968,878.92. The trade was a 9.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.13% of the company's stock.

Institutional Investors Weigh In On Neogen

Several large investors have recently modified their holdings of the stock. Stephens Inc. AR increased its stake in shares of Neogen by 2.6% during the 3rd quarter. Stephens Inc. AR now owns 35,930 shares of the company's stock worth $604,000 after purchasing an additional 909 shares during the last quarter. Connable Office Inc. increased its stake in shares of Neogen by 5.6% during the 4th quarter. Connable Office Inc. now owns 18,793 shares of the company's stock worth $228,000 after purchasing an additional 1,000 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Neogen by 142.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company's stock worth $33,000 after purchasing an additional 1,165 shares during the last quarter. Covestor Ltd grew its stake in Neogen by 41.4% in the 4th quarter. Covestor Ltd now owns 4,103 shares of the company's stock valued at $50,000 after buying an additional 1,202 shares in the last quarter. Finally, Inspire Advisors LLC grew its stake in Neogen by 10.1% in the 4th quarter. Inspire Advisors LLC now owns 14,226 shares of the company's stock valued at $173,000 after buying an additional 1,304 shares in the last quarter. Hedge funds and other institutional investors 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.