Neogen (NASDAQ:NEOG) Upgraded to Strong-Buy at Wall Street Zen

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

Other equities analysts have also recently issued reports about the company. Guggenheim reiterated a “buy” rating and set a $14.00 target price (up from $12.00) on shares of Neogen in a research note on Wednesday. Piper Sandler upgraded shares of Neogen from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $13.00 to $14.00 in a research note on Wednesday, August 26th. Finally, Weiss Ratings upgraded shares of Neogen from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $12.67.

Neogen Trading Down 0.7%

NASDAQ:NEOG opened at $12.15 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.91 and a current ratio of 3.82. Neogen has a one year low of $5.37 and a one year high of $14.26. The business’s 50-day simple moving average is $11.95 and its 200 day simple moving average is $10.19. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of -405.00, a price-to-earnings-growth ratio of 4.56 and a beta of 1.79.

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

Institutional Trading of Neogen

Several hedge funds and other institutional investors have recently bought and sold shares of NEOG. Nykredit A S bought a new position in Neogen during the 2nd quarter worth approximately $28,000. Public Employees Retirement System of Ohio bought a new stake in shares of Neogen in the 2nd quarter valued at approximately $34,000. Integrated Wealth Concepts LLC bought a new stake in shares of Neogen in the 2nd quarter valued at approximately $73,000. Alpine Global Management LLC acquired a new stake in shares of Neogen during the 4th quarter valued at approximately $89,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of Neogen during the 2nd quarter valued at approximately $94,000. 96.73% of the stock is owned by institutional investors.

About Neogen

Neogen Corporation is a global provider of food safety and animal safety products and services. The company develops diagnostic tests, laboratory products, and related solutions that help customers detect foodborne pathogens, allergens, toxins, residues, and other contaminants throughout the food production process.

Its food safety portfolio includes test kits, culture media, molecular testing systems, sanitation monitoring products, and laboratory supplies used by food manufacturers, processors, retailers, and regulatory organizations.