Piper Sandler Increases Neogen (NASDAQ:NEOG) Price Target to $20.00

Neogen (NASDAQ:NEOG – Get Rating) had its price target upped by stock analysts at Piper Sandler from $17.00 to $20.00 in a research report issued on Friday, The Fly reports. Piper Sandler’s target price points to a potential upside of 1.94% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. StockNews.com cut shares of Neogen from a “hold” rating to a “sell” rating in a research note on Tuesday, January 10th. William Blair upgraded shares of Neogen from a “market perform” rating to an “outperform” rating in a research note on Tuesday, November 22nd.

Neogen Trading Up 0.4 %

NASDAQ NEOG opened at $19.62 on Friday. Neogen has a 1-year low of $10.49 and a 1-year high of $36.90. The company has a current ratio of 4.22, a quick ratio of 3.33 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $4.24 billion, a PE ratio of 392.40 and a beta of 0.79. The firm’s fifty day simple moving average is $16.06 and its 200-day simple moving average is $17.11.

Insiders Place Their Bets

In other news, COO Douglas Edward Jones acquired 2,500 shares of the company’s stock in a transaction dated Friday, January 13th. The stock was bought at an average price of $17.91 per share, with a total value of $44,775.00. Following the completion of the acquisition, the chief operating officer now owns 11,860 shares in the company, valued at approximately $212,412.60. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.73% of the company’s stock.

Institutional Trading of Neogen

Hedge funds have recently modified their holdings of the company. TownSquare Capital LLC increased its holdings in shares of Neogen by 4.3% during the second quarter. TownSquare Capital LLC now owns 19,737 shares of the company’s stock worth $475,000 after buying an additional 811 shares in the last quarter. Stephens Inc. AR increased its holdings in shares of Neogen by 13.7% in the second quarter. Stephens Inc. AR now owns 12,747 shares of the company’s stock valued at $307,000 after purchasing an additional 1,534 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Neogen by 4.1% in the second quarter. Commonwealth Equity Services LLC now owns 24,212 shares of the company’s stock valued at $583,000 after purchasing an additional 950 shares in the last quarter. Simmons Bank acquired a new stake in shares of Neogen in the second quarter valued at approximately $241,000. Finally, Cutter & CO Brokerage Inc. increased its holdings in shares of Neogen by 40.7% in the second quarter. Cutter & CO Brokerage Inc. now owns 10,200 shares of the company’s stock valued at $246,000 after purchasing an additional 2,950 shares in the last quarter. Institutional investors and hedge funds own 97.11% of the company’s stock.

About Neogen

(Get Rating)

Neogen Corporation, together with its subsidiaries, develops, manufactures, and markets various products for food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment offers diagnostic test kits and related products to detect dangerous and unintended substances in food and animal feed, including foodborne pathogens, spoilage organisms, natural toxins, food allergens, genetic modifications, ruminant by-products, meat speciation, drug residues, pesticide residues, and general sanitation concerns; and AccuPoint Advanced rapid sanitation test to detect the presence of adenosine triphosphate, a chemical found in living cells.