Shares of Neogen Corporation (NASDAQ:NEOG – Get Free Report) have earned an average rating of “Hold” from the five brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $12.67.
NEOG has been the topic of a number of analyst reports. Wall Street Zen cut shares of Neogen from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 11th. Weiss Ratings raised shares of Neogen from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 7th. Piper Sandler upgraded shares of Neogen from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $13.00 to $14.00 in a report on Wednesday, August 26th. Finally, Guggenheim reaffirmed a “buy” rating and set a $14.00 price target (up from $12.00) on shares of Neogen in a research note on Wednesday, September 30th.
Check Out Our Latest Stock Analysis on Neogen
Institutional Trading of Neogen
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Neogen during the second quarter valued at approximately $300,545,000. Bamco Inc. NY bought a new position in shares of Neogen during the second quarter valued at approximately $45,094,000. SG Americas Securities LLC raised its holdings in shares of Neogen by 287.4% in the first quarter. SG Americas Securities LLC now owns 6,266,033 shares of the company’s stock worth $58,211,000 after buying an additional 4,648,436 shares during the period. Cibc World Market Inc. purchased a new stake in shares of Neogen in the second quarter worth approximately $31,469,000. Finally, Bank of America Corp DE purchased a new stake in shares of Neogen in the second quarter worth approximately $28,280,000. 96.73% of the stock is owned by hedge funds and other institutional investors.
Neogen Stock Performance
NASDAQ NEOG opened at $12.27 on Friday. The company has a market cap of $2.68 billion, a P/E ratio of -49.08, a P/E/G ratio of 4.44 and a beta of 1.79. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.92 and a current ratio of 3.90. The business’s 50 day moving average price is $12.16 and its 200-day moving average price is $10.40. Neogen has a fifty-two week low of $5.37 and a fifty-two week high of $14.26.
Neogen (NASDAQ:NEOG – Get Free Report) last released its quarterly earnings results on Tuesday, October 6th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.03. The company had revenue of $222.80 million for the quarter, compared to analyst estimates of $208.18 million. Neogen had a positive return on equity of 3.29% and a negative net margin of 6.35%. Neogen’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.04 EPS. Sell-side analysts predict that Neogen will post 0.27 earnings per share for the current year.
About Neogen
Neogen Corporation is a global provider of food safety and animal safety products and services. The company develops diagnostic tests, laboratory products, and related solutions that help customers detect foodborne pathogens, allergens, toxins, residues, and other contaminants throughout the food production process.
Its food safety portfolio includes test kits, culture media, molecular testing systems, sanitation monitoring products, and laboratory supplies used by food manufacturers, processors, retailers, and regulatory organizations.
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