Neogen (NASDAQ:NEOG) Shares Cross Above 200-Day Moving Average – Time to Sell?

Neogen Corporation (NASDAQ:NEOG) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $9.24 and traded as high as $9.29. Neogen shares last traded at $8.99, with a volume of 2,328,643 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have commented on NEOG. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Neogen in a research report on Friday, April 10th. Wall Street Zen upgraded shares of Neogen from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $10.67.

Neogen Stock Performance

The firm has a market cap of $2.03 billion, a price-to-earnings ratio of -3.34, a P/E/G ratio of 4.03 and a beta of 1.80. The business’s 50-day simple moving average is $9.07 and its two-hundred day simple moving average is $9.26. 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 (NASDAQ:NEOG) last posted its quarterly earnings data on Thursday, April 9th. The company reported $0.09 earnings per share (EPS) for the quarter, beating 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 business had revenue of $211.20 million for the quarter, compared to the consensus estimate of $204.62 million. The firm’s revenue was down 4.4% on a year-over-year basis. As a group, sell-side analysts expect that Neogen Corporation will post 0.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UMB Bank n.a. raised its position 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 buying an additional 4,523 shares during the last quarter. Hantz Financial Services Inc. grew its stake in Neogen by 816.9% during the 4th quarter. Hantz Financial Services Inc. now owns 7,592 shares of the company’s stock valued at $53,000 after acquiring an additional 6,764 shares in the last quarter. Cresset Asset Management LLC purchased a new position in Neogen in the 2nd quarter worth approximately $53,000. Evergreen Capital Management LLC acquired a new position in shares of Neogen during the 2nd quarter worth approximately $56,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Neogen by 3,158.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 8,309 shares of the company’s stock worth $58,000 after purchasing an additional 8,054 shares during the last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Neogen Company Profile

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.