Neogen (NASDAQ:NEOG) Stock Rating Upgraded by StockNews.com

Neogen (NASDAQ:NEOG) was upgraded by equities researchers at StockNews.com to a “sell” rating in a report issued on Wednesday.

Separately, Piper Sandler increased their target price on Neogen from $17.00 to $17.50 and gave the company a “neutral” rating in a research note on Tuesday, August 6th.

Neogen Trading Down 6.7 %

Shares of NASDAQ:NEOG opened at $16.10 on Wednesday. The company has a current ratio of 3.82, a quick ratio of 2.59 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $3.49 billion, a PE ratio of 1,611.61 and a beta of 1.20. Neogen has a 1 year low of $11.46 and a 1 year high of $23.27. The firm has a fifty day moving average price of $16.44 and a 200 day moving average price of $15.26.

Neogen (NASDAQ:NEOG) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). The firm had revenue of $236.80 million during the quarter, compared to the consensus estimate of $225.83 million. Neogen had a negative net margin of 1.02% and a positive return on equity of 3.09%. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.14 EPS. Analysts expect that Neogen will post 0.54 EPS for the current fiscal year.

Insider Activity at Neogen

In other news, Director James P. Tobin bought 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was acquired at an average cost of $16.86 per share, for a total transaction of $50,580.00. Following the completion of the purchase, the director now owns 23,392 shares of the company’s stock, valued at approximately $394,389.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.71% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Neogen

A number of large investors have recently bought and sold shares of NEOG. Inspire Investing LLC lifted its position in shares of Neogen by 2.7% during the second quarter. Inspire Investing LLC now owns 26,074 shares of the company’s stock worth $408,000 after purchasing an additional 685 shares in the last quarter. Northwest Investment Counselors LLC increased its stake in shares of Neogen by 1.1% in the 1st quarter. Northwest Investment Counselors LLC now owns 71,621 shares of the company’s stock valued at $1,130,000 after buying an additional 809 shares during the period. Bessemer Group Inc. raised its position in shares of Neogen by 1.2% during the first quarter. Bessemer Group Inc. now owns 73,920 shares of the company’s stock worth $1,166,000 after acquiring an additional 851 shares during the last quarter. Retirement Systems of Alabama lifted its stake in shares of Neogen by 0.4% during the first quarter. Retirement Systems of Alabama now owns 247,423 shares of the company’s stock valued at $3,904,000 after acquiring an additional 889 shares during the period. Finally, Arizona State Retirement System boosted its holdings in Neogen by 1.9% in the second quarter. Arizona State Retirement System now owns 57,609 shares of the company’s stock valued at $900,000 after acquiring an additional 1,079 shares during the last quarter. 96.73% of the stock is currently owned by institutional investors.

About Neogen

Neogen Corporation, together with its subsidiaries, engages in the development, manufacture, and marketing of various products and services dedicated to 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, as well as provides genomics-based diagnostic technology and software systems that help testers to objectively analyze and store their results and perform analysis on the results from multiple locations over extended periods.