Neogen (NASDAQ:NEOG) Upgraded at Wall Street Zen

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

A number of other brokerages also recently commented on NEOG. Piper Sandler raised Neogen from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $13.00 to $14.00 in a research report on Wednesday, August 26th. Weiss Ratings upgraded Neogen from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 7th. Finally, Guggenheim reissued a “buy” rating and issued a $14.00 price target (up from $12.00) on shares of Neogen in a research note on Wednesday, September 30th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Neogen has a consensus rating of “Hold” and a consensus target price of $12.67.

Neogen Stock Performance

Shares of NEOG opened at $13.01 on Friday. Neogen has a 1 year low of $5.37 and a 1 year high of $14.26. The company’s 50 day simple moving average is $12.02 and its 200 day simple moving average is $10.22. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of -433.67, a PEG ratio of 4.56 and a beta of 1.79. 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 (NASDAQ:NEOG) last released 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 firm had revenue of $225.30 million during the quarter, compared to analysts’ expectations of $212.35 million. During the same period in the previous year, the company earned ($2.82) EPS. Neogen’s revenue for the quarter was down .1% on a year-over-year basis. On average, sell-side analysts predict that Neogen will post 0.27 EPS for the current year.

Institutional Trading of Neogen

Several institutional investors have recently made changes to their positions in NEOG. Sequoia Financial Advisors LLC purchased a new position in shares of Neogen in the 2nd quarter worth $94,000. Integrated Wealth Concepts LLC acquired a new position in Neogen in the second quarter valued at $73,000. Squarepoint Ops LLC purchased a new stake in Neogen during the second quarter valued at about $2,642,000. Nykredit A S acquired a new stake in Neogen during the second quarter worth about $28,000. Finally, Corient Private Wealth LP increased its stake in Neogen by 9.1% during the second quarter. Corient Private Wealth LP now owns 46,474 shares of the company’s stock worth $418,000 after acquiring an additional 3,859 shares during the last quarter. 96.73% of the stock is owned by hedge funds and other institutional investors.

Neogen Company Profile

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.