Neogen (NASDAQ:NEOG) Rating Lowered to “Hold” at Wall Street Zen

Neogen (NASDAQ:NEOG) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Sunday.

A number of other brokerages have also recently issued reports on NEOG. CJS Securities began coverage on Neogen in a report on Monday, September 29th. They set a “market perform” rating and a $10.00 price objective for the company. Piper Sandler set a $6.50 price objective on Neogen and gave the stock a “neutral” rating in a research note on Thursday, October 16th. Zacks Research upgraded Neogen from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 20th. Weiss Ratings restated a “sell (e+)” rating on shares of Neogen in a research note on Wednesday, October 8th. Finally, William Blair cut Neogen from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 29th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Neogen has a consensus rating of “Hold” and a consensus price target of $8.83.

Neogen Price Performance

Shares of NASDAQ:NEOG opened at $6.40 on Friday. The firm’s 50 day moving average is $5.85 and its two-hundred day moving average is $5.57. The company has a current ratio of 3.58, a quick ratio of 2.26 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $1.39 billion, a P/E ratio of -1.33 and a beta of 1.90. Neogen has a 52 week low of $3.87 and a 52 week high of $16.79.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings results on Thursday, October 9th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. The firm had revenue of $216.96 million during the quarter, compared to analyst estimates of $203.93 million. Neogen had a positive return on equity of 2.23% and a negative net margin of 117.61%.The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the company posted $0.07 EPS. Neogen has set its FY 2026 guidance at EPS. Analysts anticipate that Neogen will post 0.38 earnings per share for the current year.

Institutional Trading of Neogen

A number of institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. lifted its holdings in Neogen by 29.4% during the first quarter. Russell Investments Group Ltd. now owns 451,898 shares of the company’s stock worth $3,916,000 after acquiring an additional 102,640 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Neogen by 90.3% during the first quarter. Principal Financial Group Inc. now owns 1,123,391 shares of the company’s stock worth $9,740,000 after buying an additional 533,064 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Neogen by 8.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,235,459 shares of the company’s stock worth $19,381,000 after buying an additional 173,532 shares in the last quarter. Malaga Cove Capital LLC raised its holdings in shares of Neogen by 53.2% in the first quarter. Malaga Cove Capital LLC now owns 157,695 shares of the company’s stock valued at $1,367,000 after purchasing an additional 54,761 shares during the last quarter. Finally, Inspire Investing LLC lifted its position in Neogen by 100.2% during the 2nd quarter. Inspire Investing LLC now owns 93,416 shares of the company’s stock worth $447,000 after buying an additional 46,753 shares in the last quarter. Institutional investors and hedge funds own 96.73% of the company’s stock.

Neogen Company Profile

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.