Neogen Corporation (NASDAQ:NEOG) Stock Now Rated “Hold” by Wall Street Analysts

Shares of Neogen Corporation (NASDAQ:NEOG) have received a consensus rating of “Hold” from the five analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $12.67.

A number of equities research analysts have recently issued reports on NEOG shares. 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. Wall Street Zen cut shares of Neogen from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 11th. Piper Sandler raised Neogen from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $13.00 to $14.00 in a research report on Wednesday, August 26th. Finally, Weiss Ratings upgraded Neogen from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 7th.

Neogen Stock Performance

NASDAQ NEOG opened at $11.82 on Tuesday. The stock has a market cap of $2.58 billion, a PE ratio of -47.28, a P/E/G ratio of 4.33 and a beta of 1.79. The company has a current ratio of 3.90, a quick ratio of 2.92 and a debt-to-equity ratio of 0.37. Neogen has a twelve month low of $5.37 and a twelve month high of $14.26. The stock has a fifty day simple moving average of $12.22 and a 200-day simple moving average of $10.43.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings data on Tuesday, October 6th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. Neogen had a negative net margin of 6.35% and a positive return on equity of 3.29%. The firm had revenue of $222.80 million for the quarter, compared to analyst estimates of $208.18 million. During the same period in the previous year, the firm earned $0.04 EPS. Neogen’s revenue was up 6.5% on a year-over-year basis. Equities analysts anticipate that Neogen will post 0.28 earnings per share for the current year.

Institutional Trading of Neogen

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Canton Hathaway LLC purchased a new position in Neogen in the third quarter valued at $26,000. Nykredit A S purchased a new position in shares of Neogen in the 2nd quarter valued at about $28,000. Farther Finance Advisors LLC grew its position in shares of Neogen by 76.1% during the third quarter. Farther Finance Advisors LLC now owns 2,184 shares of the company’s stock worth $28,000 after buying an additional 944 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Neogen during the second quarter worth about $34,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of Neogen during the second quarter worth approximately $73,000. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

Neogen Company Profile

Neogen Corporation develops and markets products and services designed to help protect the food supply and support animal health. Its food safety offerings include diagnostic tests and laboratory products used to detect pathogens, allergens, mycotoxins, genetically modified organisms, veterinary drug residues, and other contaminants in food and agricultural environments.

The company also provides sanitation and hygiene products, environmental monitoring solutions, and software and data-management tools that help food processors, retailers, laboratories, and other organizations manage food safety programs.