Neogen (NASDAQ:NEOG) Raised to Buy at Wall Street Zen

Neogen (NASDAQ:NEOG) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

NEOG has been the topic of several other research reports. Piper Sandler set a $6.50 target price on shares of Neogen and gave the stock a “neutral” rating in a report on Thursday, October 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Neogen in a research report on Monday, December 1st. CJS Securities raised shares of Neogen from a “market perform” rating to an “outperform” rating and set a $10.00 price objective for the company in a research note on Wednesday. Finally, Zacks Research upgraded Neogen from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 20th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $8.83.

Neogen Stock Performance

NASDAQ:NEOG opened at $6.86 on Friday. The firm has a market capitalization of $1.49 billion, a PE ratio of -1.43 and a beta of 1.99. The stock’s fifty day moving average is $6.11 and its 200 day moving average is $5.62. Neogen has a fifty-two week low of $3.87 and a fifty-two week high of $13.40. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.26 and a current ratio of 3.58.

Institutional Investors Weigh In On Neogen

Several hedge funds have recently made changes to their positions in NEOG. Savant Capital LLC purchased a new position in shares of Neogen during the second quarter valued at $50,000. Cresset Asset Management LLC bought a new position in Neogen during the 2nd quarter worth about $53,000. Evergreen Capital Management LLC purchased a new position in Neogen during the 2nd quarter valued at about $56,000. Blue Trust Inc. raised its holdings in shares of Neogen by 181.7% in the 2nd quarter. Blue Trust Inc. now owns 11,974 shares of the company’s stock valued at $57,000 after purchasing an additional 7,724 shares in the last quarter. Finally, Osaic Holdings Inc. raised its holdings in shares of Neogen by 183.5% in the 2nd quarter. Osaic Holdings Inc. now owns 12,663 shares of the company’s stock valued at $61,000 after purchasing an additional 8,196 shares in the last quarter. 96.73% of the stock is currently owned by hedge funds and other 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.