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

Neogen Corporation (NASDAQ:NEOG) has earned a consensus rating of “Hold” from the five analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $12.00.

Several research analysts recently commented on NEOG shares. Weiss Ratings raised Neogen from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 7th. Wall Street Zen raised shares of Neogen from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Piper Sandler upgraded shares of Neogen from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $13.00 to $14.00 in a report on Wednesday, August 26th.

Neogen Stock Performance

Shares of NEOG stock opened at $11.78 on Monday. The stock has a market cap of $2.57 billion, a PE ratio of -392.67, a price-to-earnings-growth ratio of 4.42 and a beta of 1.76. Neogen has a 52-week low of $4.90 and a 52-week high of $12.85. The business has a 50-day simple moving average of $10.98 and a 200-day simple moving average of $9.92. The company has a quick ratio of 2.91, a current ratio of 3.82 and a debt-to-equity ratio of 0.38.

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

Institutional Investors Weigh In On Neogen

A number of large investors have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Neogen during the 2nd quarter worth about $300,545,000. Cibc World Markets Corp purchased a new position in Neogen in the fourth quarter valued at approximately $47,983,000. T. Rowe Price Investment Management Inc. raised its stake in Neogen by 249.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,181,768 shares of the company’s stock worth $57,191,000 after acquiring an additional 5,838,570 shares in the last quarter. Bamco Inc. NY acquired a new stake in shares of Neogen during the second quarter worth about $45,094,000. Finally, 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 buying an additional 4,648,436 shares during the last quarter. 96.73% of the stock is 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.