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

Neogen (NASDAQ:NEOG) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Sunday, Wall Street Zen reports.

A number of other research firms also recently commented on NEOG. Weiss Ratings upgraded shares of Neogen from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 7th. Piper Sandler upgraded shares of Neogen from a “neutral” rating to an “overweight” rating and upped their target price for the company from $13.00 to $14.00 in a research note on Wednesday, August 26th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.00.

Neogen Price Performance

NEOG stock opened at $13.61 on Friday. The stock’s 50 day moving average is $11.36 and its two-hundred day moving average is $9.98. Neogen has a 52-week low of $5.09 and a 52-week high of $13.72. The company has a market capitalization of $2.97 billion, a PE ratio of -453.67, a P/E/G ratio of 4.88 and a beta of 1.76. The company has a quick ratio of 2.91, a current ratio of 3.82 and a debt-to-equity ratio of 0.38.

Neogen (NASDAQ:NEOG) last released its earnings results on Thursday, July 30th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.06 by $0.03. The company had revenue of $225.30 million during the quarter, compared to analysts’ expectations of $212.35 million. Neogen had a positive return on equity of 2.78% and a negative net margin of 0.91%.The business’s revenue was down .1% on a year-over-year basis. During the same period in the prior year, the business posted ($2.82) EPS. Analysts predict that Neogen will post 0.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in Neogen during the second quarter worth about $300,545,000. Dimensional Fund Advisors LP grew its holdings in shares of Neogen by 23.4% during the first quarter. Dimensional Fund Advisors LP now owns 9,132,021 shares of the company’s stock valued at $84,831,000 after purchasing an additional 1,733,767 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Neogen by 287.4% during the first quarter. SG Americas Securities LLC now owns 6,266,033 shares of the company’s stock valued at $58,211,000 after purchasing an additional 4,648,436 shares during the last quarter. Bamco Inc. NY acquired a new stake in shares of Neogen during the 2nd quarter worth approximately $45,094,000. Finally, Cibc World Market Inc. acquired a new stake in shares of Neogen during the 2nd quarter worth approximately $31,469,000. 96.73% of the stock is currently owned by institutional investors.

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.