Neogen (NASDAQ:NEOG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Neogen (NASDAQ:NEOG) from a buy rating to a strong-buy rating in a report published on Saturday,Wall Street Zen reports.

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

Neogen Stock Up 1.4%

Neogen stock opened at $11.95 on Friday. Neogen has a twelve month low of $4.90 and a twelve month high of $12.85. The stock’s fifty day simple moving average is $11.03 and its 200-day simple moving average is $9.92. The company has a current ratio of 3.82, a quick ratio of 2.91 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $2.61 billion, a P/E ratio of -398.33, a P/E/G ratio of 4.42 and a beta of 1.76.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.03. The business had revenue of $225.30 million for 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 company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the firm earned ($2.82) earnings per share. As a group, equities analysts expect that Neogen will post 0.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Neogen

Several hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp purchased a new stake in shares of Neogen during the 2nd quarter worth approximately $11,404,000. Sei Investments Co. grew its position in shares of Neogen by 69.1% in the 1st quarter. Sei Investments Co. now owns 230,403 shares of the company’s stock valued at $2,141,000 after buying an additional 94,148 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Neogen in the 1st quarter valued at $2,980,000. Roubaix Capital LLC acquired a new stake in Neogen during the 1st quarter worth $4,630,000. Finally, Granahan Investment Management LLC acquired a new stake in Neogen during the 1st quarter worth $2,323,000. 96.73% of the stock is currently owned by hedge funds and other 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.