Piper Sandler analyst David Westenberg maintained a Hold rating on Neogen (NEOG – Research Report) today and set a price target of $20.00. The company’s shares opened today at $21.24.
Westenberg covers the Healthcare sector, focusing on stocks such as Idexx Laboratories, Illumina, and Neogen. According to TipRanks, Westenberg has an average return of 5.7% and a 53.95% success rate on recommended stocks.
Neogen has an analyst consensus of Hold, with a price target consensus of $20.00.
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Based on Neogen’s latest earnings release for the quarter ending May 31, the company reported a quarterly revenue of $140.09 million and a net profit of $14.96 million. In comparison, last year the company earned a revenue of $127.43 million and had a net profit of $15.76 million
Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NEOG in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Neogen Corp. engages in the development, manufacture, and sale of products dedicated to food and animal safety. It operates through the following segments: Food Safety, Animal Safety, and Corporate and Eliminations. The Food Safety segment consists of diagnostic test kits and related products used by food producers and processors to detect harmful natural toxins, foodborne bacteria, allergens, drug residues, and levels of general sanitation. The Animal Safety segment includes a line of consumable products marketed to veterinarians and animal health product distributors. The Corporate and eliminations segment refers to the corporate assets, including cash and cash equivalents, marketable securities, current and deferred tax accounts, and overhead expenses not allocated to specific business segments. The company was founded on June 30, 1981 and is headquartered in Lansing, MI.
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