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

Shares of Neogen Corporation (NASDAQ:NEOG) have earned an average recommendation of “Hold” from the five brokerages 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 target among brokerages that have issued ratings on the stock in the last year is $12.00.

Several research analysts have recently weighed in on the stock. Piper Sandler upgraded shares of Neogen from a “neutral” rating to an “overweight” rating and upped their price target for the company from $13.00 to $14.00 in a report 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. Finally, Wall Street Zen raised shares of Neogen from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 12th.

Neogen Trading Up 1.3%

Shares of NASDAQ NEOG opened at $13.00 on Monday. Neogen has a fifty-two week low of $5.09 and a fifty-two week high of $13.07. The firm has a market capitalization of $2.84 billion, a P/E ratio of -433.33, a P/E/G ratio of 4.81 and a beta of 1.76. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.82 and a quick ratio of 2.91. The company’s 50 day simple moving average is $11.28 and its 200 day simple moving average is $9.97.

Neogen (NASDAQ:NEOG) last released its earnings results on Thursday, July 30th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The firm had revenue of $225.30 million during the quarter, compared to analyst estimates of $212.35 million. Neogen had a negative net margin of 0.91% and a positive return on equity of 2.78%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($2.82) EPS. On average, analysts predict that Neogen will post 0.27 EPS for the current year.

Hedge Funds Weigh In On Neogen

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

Neogen Company Profile

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.