Shares of Neogen Corporation (NASDAQ:NEOG – Get Free Report) have been assigned a consensus rating of “Hold” from the five research firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $12.00.
NEOG has been the topic of a number of recent analyst reports. Piper Sandler upgraded shares of Neogen from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $13.00 to $14.00 in a report on Wednesday, August 26th. Weiss Ratings raised shares of Neogen from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 7th. Finally, Wall Street Zen cut shares of Neogen from a “strong-buy” rating to a “buy” rating in a research report on Sunday.
Read Our Latest Analysis on Neogen
Neogen Stock Performance
Neogen (NASDAQ:NEOG – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. Neogen had a negative net margin of 0.91% and a positive return on equity of 2.78%. The company had revenue of $225.30 million during the quarter, compared to analyst estimates of $212.35 million. During the same period in the prior year, the firm earned ($2.82) earnings per share. The business’s quarterly revenue was down .1% on a year-over-year basis. Analysts expect that Neogen will post 0.27 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Nykredit A S purchased a new stake in Neogen in the 2nd quarter worth about $28,000. Public Employees Retirement System of Ohio purchased a new position in Neogen during the 2nd quarter valued at about $34,000. Hantz Financial Services Inc. grew its stake in Neogen by 816.9% during the 4th quarter. Hantz Financial Services Inc. now owns 7,592 shares of the company’s stock valued at $53,000 after acquiring an additional 6,764 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Neogen in the 2nd quarter valued at about $73,000. Finally, Swiss Life Asset Management Ltd acquired a new position in shares of Neogen in the 4th quarter valued at about $73,000. Hedge funds and other institutional investors own 96.73% of the company’s stock.
About Neogen
Neogen Corporation develops and markets products and services designed to protect food, animals and people. The company’s offerings help customers detect, prevent and manage biological, chemical and physical hazards across the food production, agricultural and animal care industries.
Its food safety portfolio includes test kits and related technologies for detecting pathogens, allergens, mycotoxins, spoilage organisms, veterinary drug residues and other contaminants. Neogen also provides sanitation and hygiene products, diagnostic tools, laboratory services, software and training for food manufacturers, processors, retailers and other organizations involved in the food supply chain.
Neogen’s animal safety business serves livestock, poultry, companion animal and veterinary markets.
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