Neogen (NASDAQ:NEOG) Stock Rating Upgraded by Wall Street Zen

Neogen (NASDAQ:NEOG) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

NEOG has been the topic of a number of other reports. Zacks Research upgraded shares of Neogen from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 20th. CJS Securities initiated coverage on shares of Neogen in a research report on Monday, September 29th. They set a “market perform” rating and a $10.00 target price on the stock. Guggenheim reduced their target price on shares of Neogen from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, June 30th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Neogen in a research report on Wednesday, October 8th. Finally, William Blair lowered shares of Neogen from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 29th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $8.33.

Neogen Price Performance

NASDAQ:NEOG opened at $6.04 on Friday. The firm has a market cap of $1.31 billion, a PE ratio of -1.26 and a beta of 1.90. Neogen has a 12 month low of $3.87 and a 12 month high of $16.79. The company has a quick ratio of 2.26, a current ratio of 3.58 and a debt-to-equity ratio of 0.37. The company’s 50-day moving average price is $5.57 and its two-hundred day moving average price is $5.60.

Institutional Investors Weigh In On Neogen

Institutional investors and hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd raised its stake in shares of Neogen by 388.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 10,071 shares of the company’s stock worth $87,000 after buying an additional 8,010 shares during the last quarter. Savant Capital LLC bought a new stake in shares of Neogen during the second quarter worth approximately $50,000. Lindenwold Advisors INC bought a new stake in shares of Neogen during the first quarter worth approximately $92,000. Cresset Asset Management LLC bought a new stake in shares of Neogen during the second quarter worth approximately $53,000. Finally, Angeles Wealth Management LLC bought a new stake in shares of Neogen during the first quarter worth approximately $99,000. 96.73% of the stock is owned by institutional investors.

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.