Neogen (NASDAQ:NEOG) Upgraded by Wall Street Zen to Strong-Buy Rating

Wall Street Zen upgraded shares of Neogen (NASDAQ:NEOG) from a buy rating to a strong-buy rating in a report published on Saturday morning,Wall Street Zen reports.

Other analysts have also recently issued research reports about the stock. Piper Sandler upgraded shares of Neogen from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $13.00 to $14.00 in a research note on Wednesday, August 26th. Weiss Ratings upgraded shares of Neogen from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 7th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $12.00.

Neogen Trading Up 0.1%

NASDAQ:NEOG opened at $11.78 on Friday. The stock has a fifty day moving average price of $10.98 and a two-hundred day moving average price of $9.93. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of -392.67, a PEG ratio of 4.42 and a beta of 1.76. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.91 and a current ratio of 3.82. Neogen has a 1 year low of $4.90 and a 1 year high of $12.85.

Neogen (NASDAQ:NEOG) last issued its earnings results on Thursday, July 30th. The company reported $0.09 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $212.35 million. During the same period in the previous year, the firm earned ($2.82) EPS. The business’s revenue was down .1% on a year-over-year basis. As a group, sell-side analysts anticipate that Neogen will post 0.27 earnings per share for the current fiscal year.

Institutional Trading of Neogen

A number of large investors have recently made changes to their positions in NEOG. Nykredit A S acquired a new position in Neogen in the 2nd quarter valued at about $28,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Neogen during the 2nd quarter worth about $34,000. UMB Bank n.a. boosted its stake in shares of Neogen by 238.2% during the 4th quarter. UMB Bank n.a. now owns 6,422 shares of the company’s stock worth $45,000 after purchasing an additional 4,523 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in shares of Neogen by 816.9% during the fourth quarter. Hantz Financial Services Inc. now owns 7,592 shares of the company’s stock worth $53,000 after buying an additional 6,764 shares in the last quarter. Finally, Cresset Asset Management LLC purchased a new stake in shares of Neogen during the second quarter worth about $53,000. Institutional investors and hedge funds 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.