Zacks Research Analysts Reduce Earnings Estimates for Neogen

Neogen Corporation (NASDAQ:NEOG) – Analysts at Zacks Research cut their FY2027 earnings per share (EPS) estimates for Neogen in a research note issued on Wednesday, September 3rd. Zacks Research analyst Team now forecasts that the company will post earnings of $0.35 per share for the year, down from their prior forecast of $0.36. Zacks Research currently has a “Hold” rating on the stock. The consensus estimate for Neogen’s current full-year earnings is $0.38 per share.

Other research analysts have also recently issued reports about the company. William Blair cut Neogen from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 29th. Guggenheim decreased their target price on Neogen from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, June 30th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Neogen has an average rating of “Hold” and an average price target of $7.50.

Neogen Stock Up 0.2%

Shares of Neogen stock opened at $5.75 on Friday. The company has a quick ratio of 2.22, a current ratio of 3.32 and a debt-to-equity ratio of 0.42. Neogen has a 12 month low of $3.87 and a 12 month high of $17.95. The business has a fifty day simple moving average of $5.25 and a 200 day simple moving average of $6.32. The stock has a market cap of $1.25 billion, a PE ratio of -1.14 and a beta of 1.85.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. boosted its position in shares of Neogen by 183.5% during the second quarter. Osaic Holdings Inc. now owns 12,663 shares of the company’s stock worth $61,000 after buying an additional 8,196 shares during the period. Squarepoint Ops LLC boosted its position in shares of Neogen by 178.4% during the second quarter. Squarepoint Ops LLC now owns 1,247,973 shares of the company’s stock worth $5,965,000 after buying an additional 799,736 shares during the period. Caxton Associates LLP acquired a new position in shares of Neogen during the second quarter worth about $587,000. Public Sector Pension Investment Board boosted its position in shares of Neogen by 7.4% during the second quarter. Public Sector Pension Investment Board now owns 672,304 shares of the company’s stock worth $3,214,000 after buying an additional 46,210 shares during the period. Finally, FORA Capital LLC boosted its position in shares of Neogen by 56.1% during the second quarter. FORA Capital LLC now owns 63,850 shares of the company’s stock worth $305,000 after buying an additional 22,955 shares during the period. 96.73% of the stock is owned by institutional investors and hedge funds.

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.