Neogen (NASDAQ:NEOG) Upgraded at Wall Street Zen

Neogen (NASDAQ:NEOG) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

NEOG has been the topic of a number of other reports. CJS Securities raised Neogen from a “market perform” rating to an “outperform” rating and set a $10.00 price target on the stock in a research note on Wednesday, December 10th. Weiss Ratings restated a “sell (e+)” rating on shares of Neogen in a report on Monday, December 29th. Guggenheim reaffirmed a “buy” rating and set a $12.00 target price (up from $8.00) on shares of Neogen in a research report on Friday, January 9th. Finally, Piper Sandler reissued a “neutral” rating and issued a $10.00 price target (up previously from $6.50) on shares of Neogen in a research report on Monday, January 12th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $10.67.

Neogen Stock Up 1.5%

Neogen stock opened at $10.94 on Friday. The company has a market capitalization of $2.38 billion, a PE ratio of -3.95 and a beta of 1.98. Neogen has a 12-month low of $3.87 and a 12-month high of $11.15. The firm’s fifty day moving average is $8.67 and its 200 day moving average is $6.76. The company has a quick ratio of 2.80, a current ratio of 3.91 and a debt-to-equity ratio of 0.38.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings results on Thursday, January 8th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.03. Neogen had a negative net margin of 68.47% and a positive return on equity of 2.14%. The firm had revenue of $224.69 million during the quarter, compared to the consensus estimate of $208.50 million. During the same period in the previous year, the firm posted $0.11 earnings per share. The business’s revenue was down 2.9% compared to the same quarter last year. As a group, sell-side analysts predict that Neogen will post 0.38 EPS for the current fiscal year.

Institutional Trading of Neogen

Several institutional investors have recently made changes to their positions in the company. Huntington National Bank boosted its holdings in Neogen by 8.4% during the fourth quarter. Huntington National Bank now owns 13,552 shares of the company’s stock worth $95,000 after purchasing an additional 1,045 shares during the last quarter. ProShare Advisors LLC grew its position in Neogen by 3.2% in the 4th quarter. ProShare Advisors LLC now owns 42,509 shares of the company’s stock worth $297,000 after purchasing an additional 1,331 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Neogen by 1.2% in the 4th quarter. State of Alaska Department of Revenue now owns 110,645 shares of the company’s stock valued at $773,000 after buying an additional 1,353 shares during the last quarter. Evergreen Capital Management LLC lifted its position in shares of Neogen by 12.3% during the 4th quarter. Evergreen Capital Management LLC now owns 13,753 shares of the company’s stock worth $96,000 after buying an additional 1,504 shares in the last quarter. Finally, California State Teachers Retirement System lifted its position in shares of Neogen by 1.1% during the 2nd quarter. California State Teachers Retirement System now owns 191,084 shares of the company’s stock worth $913,000 after buying an additional 2,166 shares in the last quarter. Institutional investors own 96.73% of the company’s stock.

Neogen Company Profile

Neogen Corporation is a global provider of food and animal safety products, offering a broad portfolio of diagnostic and testing solutions. Headquartered in Lansing, Michigan, the company develops and manufactures tests designed to detect foodborne pathogens, allergens and toxins in food, beverage and environmental samples. Since its founding in 1982, Neogen has focused on delivering rapid, accurate and user‐friendly assays to food processors, grain handlers and quality laboratories around the world.

In the food safety arena, Neogen’s product lineup includes immunoassay kits, molecular diagnostics and enrichment media for pathogens such as Salmonella, Listeria and E.