Neogen Corporation (NASDAQ:NEOG) Stock Rated “Hold” by Sell-Side Analysts

Shares of Neogen Corporation (NASDAQ:NEOG) have earned an average recommendation of “Hold” from the five analysts that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $12.67.

NEOG has been the subject of several research reports. Piper Sandler raised shares of Neogen from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $13.00 to $14.00 in a research note on Wednesday, August 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Neogen in a research note on Wednesday. Guggenheim restated a “buy” rating and set a $14.00 target price (up from $12.00) on shares of Neogen in a report on Wednesday, September 30th. Finally, Wall Street Zen cut Neogen from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 11th.

Hedge Funds Weigh In On Neogen

Institutional investors and hedge funds have recently bought and sold shares of the company. King Luther Capital Management Corp grew its position in Neogen by 31.5% in the third quarter. King Luther Capital Management Corp now owns 2,411,153 shares of the company’s stock worth $30,863,000 after acquiring an additional 577,950 shares during the period. Maryland State Retirement & Pension System raised its position in Neogen by 55.1% in the third quarter. Maryland State Retirement & Pension System now owns 48,878 shares of the company’s stock valued at $626,000 after purchasing an additional 17,354 shares during the period. Keybank National Association OH acquired a new stake in shares of Neogen during the 3rd quarter worth about $246,000. Pictet Asset Management Holding SA increased its position in shares of Neogen by 14.2% during the 3rd quarter. Pictet Asset Management Holding SA now owns 33,747 shares of the company’s stock worth $432,000 after purchasing an additional 4,202 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings in Neogen by 121.8% in the 3rd quarter. Parallel Advisors LLC now owns 2,085 shares of the company’s stock valued at $27,000 after buying an additional 1,145 shares during the period. 96.73% of the stock is currently owned by institutional investors and hedge funds.

Neogen Trading Up 0.7%

Shares of NEOG opened at $11.76 on Tuesday. Neogen has a 52-week low of $5.37 and a 52-week high of $14.26. The stock has a market cap of $2.57 billion, a PE ratio of -47.04, a price-to-earnings-growth ratio of 4.20 and a beta of 1.86. The firm’s fifty day moving average is $12.25 and its two-hundred day moving average is $10.48. The company has a quick ratio of 2.92, a current ratio of 3.90 and a debt-to-equity ratio of 0.37.

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

About Neogen

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.