Neogen Corporation (NASDAQ:NEOG) Receives Average Rating of “Hold” from Analysts

Neogen Corporation (NASDAQ:NEOG) has been given an average recommendation of “Hold” by the six brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $10.6667.

Several research analysts recently issued reports on NEOG shares. Wall Street Zen raised shares of Neogen from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Neogen in a research report on Friday, April 10th. Finally, William Blair reiterated a “market perform” rating on shares of Neogen in a research report on Monday, March 2nd.

Institutional Trading of Neogen

A number of hedge funds have recently bought and sold shares of the company. Huntington National Bank boosted its position in Neogen by 8.4% during the fourth quarter. Huntington National Bank now owns 13,552 shares of the company’s stock worth $95,000 after acquiring an additional 1,045 shares during the last quarter. ProShare Advisors LLC raised its stake in Neogen by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 42,509 shares of the company’s stock worth $297,000 after purchasing an additional 1,331 shares during the period. State of Alaska Department of Revenue raised its stake in Neogen by 1.2% during the fourth quarter. State of Alaska Department of Revenue now owns 110,645 shares of the company’s stock worth $773,000 after purchasing an additional 1,353 shares during the period. Evergreen Capital Management LLC raised its stake in Neogen by 12.3% during the fourth quarter. Evergreen Capital Management LLC now owns 13,753 shares of the company’s stock worth $96,000 after purchasing an additional 1,504 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its stake in Neogen by 10.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 17,837 shares of the company’s stock worth $125,000 after purchasing an additional 1,638 shares during the period. Institutional investors and hedge funds own 96.73% of the company’s stock.

Neogen Price Performance

Shares of NASDAQ:NEOG opened at $8.19 on Tuesday. The company has a 50-day simple moving average of $9.28 and a 200-day simple moving average of $8.56. Neogen has a one year low of $4.53 and a one year high of $11.43. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.84 and a current ratio of 3.92. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of -2.93, a PEG ratio of 3.56 and a beta of 1.84.

Neogen (NASDAQ:NEOG) last announced its earnings results on Thursday, April 9th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $204.62 million. Neogen’s revenue was down 4.4% compared to the same quarter last year. On average, analysts predict that Neogen will post 0.23 EPS for the current year.

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.