Neogen Corporation (NASDAQ:NEOG) Given Consensus Rating of “Hold” by Brokerages

Neogen Corporation (NASDAQ:NEOG) has been given a consensus rating of “Hold” by the six ratings firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $10.6667.

Several brokerages recently issued reports on NEOG. Wall Street Zen raised shares of Neogen from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Neogen in a report on Friday, April 10th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NEOG. Cibc World Markets Corp purchased a new position in shares of Neogen during the fourth quarter worth $47,983,000. T. Rowe Price Investment Management Inc. raised its holdings in shares of Neogen by 249.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,181,768 shares of the company’s stock worth $57,191,000 after purchasing an additional 5,838,570 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new stake in Neogen during the third quarter worth $28,969,000. Hudson Bay Capital Management LP purchased a new stake in Neogen during the third quarter worth $28,550,000. Finally, SG Americas Securities LLC boosted its holdings in Neogen by 287.4% during 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 in the last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Neogen Trading Down 1.2%

Shares of Neogen stock opened at $8.99 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.92 and a quick ratio of 2.84. The firm has a fifty day moving average price of $9.07 and a 200 day moving average price of $9.24. Neogen has a 1 year low of $4.56 and a 1 year high of $11.43. The stock has a market cap of $1.96 billion, a PE ratio of -3.21, a price-to-earnings-growth ratio of 4.07 and a beta of 1.80.

Neogen (NASDAQ:NEOG) last issued its earnings results on Thursday, April 9th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.05. Neogen had a negative net margin of 69.93% and a positive return on equity of 2.35%. The firm had revenue of $211.20 million during the quarter, compared to analysts’ expectations of $204.62 million. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. Equities research analysts predict that Neogen will post 0.23 earnings per share for the current year.

Neogen Company Profile

Neogen Corporation is a global provider of food and animal safety products, offering a broad portfolio of diagnostic and testing solutions. Headquartered in Lansing, Michigan, the company develops and manufactures tests designed to detect foodborne pathogens, allergens and toxins in food, beverage and environmental samples. Since its founding in 1982, Neogen has focused on delivering rapid, accurate and user‐friendly assays to food processors, grain handlers and quality laboratories around the world.

In the food safety arena, Neogen’s product lineup includes immunoassay kits, molecular diagnostics and enrichment media for pathogens such as Salmonella, Listeria and E.