William Blair Comments on Neogen Co.’s FY2024 Earnings (NASDAQ:NEOG)

Neogen Co. (NASDAQ:NEOG) – Analysts at William Blair lowered their FY2024 earnings estimates for shares of Neogen in a note issued to investors on Tuesday, April 9th. William Blair analyst B. Vazquez now anticipates that the company will post earnings per share of $0.46 for the year, down from their previous forecast of $0.54. The consensus estimate for Neogen’s current full-year earnings is $0.54 per share. William Blair also issued estimates for Neogen’s Q4 2024 earnings at $0.11 EPS, Q1 2025 earnings at $0.12 EPS, Q2 2025 earnings at $0.13 EPS, Q3 2025 earnings at $0.15 EPS, Q4 2025 earnings at $0.15 EPS and FY2025 earnings at $0.55 EPS.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings results on Tuesday, April 9th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.02). The business had revenue of $228.80 million for the quarter, compared to the consensus estimate of $230.01 million. Neogen had a return on equity of 3.35% and a net margin of 1.28%. Neogen’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.12 earnings per share.

Separately, Piper Sandler raised their target price on shares of Neogen from $17.50 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, January 18th.

Neogen Price Performance

NASDAQ:NEOG opened at $13.00 on Thursday. Neogen has a 1-year low of $12.18 and a 1-year high of $24.09. The company has a current ratio of 3.54, a quick ratio of 2.63 and a debt-to-equity ratio of 0.28. The firm has a fifty day simple moving average of $15.88 and a 200 day simple moving average of $16.77. The stock has a market capitalization of $2.81 billion, a PE ratio of 216.70 and a beta of 1.13.

Insider Buying and Selling at Neogen

In other Neogen news, CFO David H. Naemura purchased 12,500 shares of the business’s stock in a transaction on Wednesday, April 10th. The stock was acquired at an average price of $12.51 per share, with a total value of $156,375.00. Following the acquisition, the chief financial officer now directly owns 30,040 shares of the company’s stock, valued at approximately $375,800.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO David H. Naemura bought 12,500 shares of the company’s stock in a transaction dated Wednesday, April 10th. The stock was bought at an average price of $12.51 per share, with a total value of $156,375.00. Following the completion of the acquisition, the chief financial officer now owns 30,040 shares of the company’s stock, valued at $375,800.40. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO John Edward Adent bought 23,000 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were purchased at an average cost of $12.36 per share, with a total value of $284,280.00. Following the acquisition, the chief executive officer now directly owns 152,389 shares of the company’s stock, valued at approximately $1,883,528.04. The disclosure for this purchase can be found here. Insiders acquired 43,000 shares of company stock valued at $538,605 in the last quarter. 0.71% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NEOG. BlackRock Inc. acquired a new position in Neogen in the first quarter valued at about $451,277,000. Norges Bank acquired a new position in Neogen in the fourth quarter valued at about $365,794,000. Baillie Gifford & Co. acquired a new position in Neogen in the fourth quarter valued at about $166,646,000. Select Equity Group L.P. acquired a new position in Neogen in the first quarter valued at about $147,849,000. Finally, Geode Capital Management LLC acquired a new position in Neogen in the first quarter valued at about $84,319,000. Institutional investors and hedge funds own 96.73% of the company’s stock.

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.