Roth Capital set a $62.00 price objective on Neogen (NASDAQ:NEOG) in a research note published on Thursday, January 4th. The brokerage currently has a hold rating on the stock.

A number of other research firms have also recently commented on NEOG. Zacks Investment Research cut Neogen from a buy rating to a hold rating in a report on Wednesday, December 6th. Craig Hallum upped their price objective on Neogen from $46.50 to $60.00 and gave the stock a hold rating in a report on Thursday, December 7th. Five equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. The stock has an average rating of Hold and a consensus price target of $63.25.

Shares of Neogen (NASDAQ:NEOG) traded down $0.06 during trading on Thursday, reaching $60.14. The company’s stock had a trading volume of 14,029 shares, compared to its average volume of 161,360. The stock has a market capitalization of $3,103.72, a price-to-earnings ratio of 59.90, a P/E/G ratio of 3.77 and a beta of 1.54. Neogen has a fifty-two week low of $44.63 and a fifty-two week high of $64.42.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings results on Wednesday, January 3rd. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. Neogen had a return on equity of 10.72% and a net margin of 13.47%. The firm had revenue of $101.80 million during the quarter, compared to analyst estimates of $102.46 million. During the same quarter in the previous year, the firm earned $0.29 EPS. Neogen’s quarterly revenue was up 12.2% compared to the same quarter last year. sell-side analysts forecast that Neogen will post 1.07 earnings per share for the current fiscal year.

In related news, VP Edward Bradley sold 17,824 shares of the company’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $80.32, for a total transaction of $1,431,623.68. Following the completion of the sale, the vice president now directly owns 27,212 shares in the company, valued at approximately $2,185,667.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James L. Herbert sold 26,000 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $81.45, for a total value of $2,117,700.00. Following the sale, the insider now owns 879,430 shares of the company’s stock, valued at $71,629,573.50. The disclosure for this sale can be found here. Corporate insiders own 4.20% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Conestoga Capital Advisors LLC increased its holdings in shares of Neogen by 12.4% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,077,886 shares of the company’s stock valued at $88,613,000 after purchasing an additional 119,102 shares during the period. McCollum Christoferson Group LLC acquired a new stake in Neogen during the fourth quarter worth about $8,225,000. Schwab Charles Investment Management Inc. grew its holdings in Neogen by 4.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 179,490 shares of the company’s stock valued at $14,756,000 after purchasing an additional 7,712 shares during the period. Wasatch Advisors Inc. grew its holdings in Neogen by 619.3% in the fourth quarter. Wasatch Advisors Inc. now owns 1,023,040 shares of the company’s stock valued at $84,104,000 after purchasing an additional 880,819 shares during the period. Finally, Liberty Capital Management Inc. grew its holdings in Neogen by 33.4% in the fourth quarter. Liberty Capital Management Inc. now owns 49,270 shares of the company’s stock valued at $2,913,000 after purchasing an additional 12,331 shares during the period. Institutional investors own 66.49% of the company’s stock.

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About Neogen

Neogen Corporation develops, manufactures and markets a range of products and services dedicated to food and animal safety. The Company operates through two segments: Food Safety and Animal Safety. The Food Safety segment produces and markets diagnostic test kits and related products used by food producers and processors to detect harmful natural toxins, foodborne bacteria, allergens and levels of general sanitation.

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