Neogen Corporation (NASDAQ:NEOG) Receives Consensus Recommendation of “Hold” from Analysts

Neogen Corporation (NASDAQ:NEOG) has received an average recommendation of “Hold” from the six research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $10.6667.

NEOG has been the subject of several analyst reports. Wall Street Zen upgraded shares of Neogen from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Neogen in a research note on Friday, April 10th. Finally, William Blair restated a “market perform” rating on shares of Neogen in a research note on Monday, March 2nd.

Neogen Price Performance

NEOG opened at $8.56 on Tuesday. The company has a quick ratio of 2.84, a current ratio of 3.92 and a debt-to-equity ratio of 0.38. Neogen has a 52-week low of $4.53 and a 52-week high of $11.43. The company has a 50 day moving average of $9.24 and a two-hundred day moving average of $8.59. The company has a market cap of $1.86 billion, a P/E ratio of -3.06, a P/E/G ratio of 3.56 and a beta of 1.84.

Neogen (NASDAQ:NEOG) last released its quarterly earnings data 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 company had revenue of $211.20 million during the quarter, compared to the consensus estimate of $204.62 million. The firm’s quarterly revenue was down 4.4% on a year-over-year basis. On average, analysts expect that Neogen will post 0.23 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NEOG. UMB Bank n.a. boosted its stake in shares of Neogen by 238.2% in the fourth quarter. UMB Bank n.a. now owns 6,422 shares of the company’s stock valued at $45,000 after purchasing an additional 4,523 shares during the period. Hantz Financial Services Inc. boosted its stake in shares of Neogen by 816.9% in the fourth quarter. Hantz Financial Services Inc. now owns 7,592 shares of the company’s stock valued at $53,000 after purchasing an additional 6,764 shares during the period. Cresset Asset Management LLC purchased a new position in shares of Neogen in the second quarter valued at $53,000. Evergreen Capital Management LLC acquired a new stake in Neogen in the second quarter valued at $56,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Neogen by 3,158.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 8,309 shares of the company’s stock valued at $58,000 after acquiring an additional 8,054 shares in the last quarter. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

About Neogen

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.