William Blair upgraded shares of Neogen (NASDAQ:NEOG – Get Rating) from a market perform rating to an outperform rating in a research report sent to investors on Tuesday, MarketBeat Ratings reports. William Blair also issued estimates for Neogen’s Q2 2023 earnings at $0.14 EPS, Q3 2023 earnings at $0.14 EPS, FY2023 earnings at $0.59 EPS, Q1 2024 earnings at $0.15 EPS, Q3 2024 earnings at $0.16 EPS and FY2024 earnings at $0.64 EPS.
A number of other research firms have also weighed in on NEOG. Piper Sandler lowered their target price on Neogen from $20.00 to $14.00 and set a neutral rating for the company in a research note on Monday, October 10th. StockNews.com began coverage on Neogen in a research report on Wednesday, October 12th. They set a hold rating for the company.
Neogen Trading Up 2.0 %
NASDAQ NEOG opened at $16.20 on Tuesday. Neogen has a 1-year low of $10.49 and a 1-year high of $47.80. The stock has a 50-day moving average of $13.85 and a 200-day moving average of $19.74. The firm has a market cap of $1.75 billion, a PE ratio of 47.65 and a beta of 0.72.
Insider Buying and Selling at Neogen
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of Neogen by 0.4% during the 1st quarter. BlackRock Inc. now owns 11,697,242 shares of the company’s stock worth $360,742,000 after acquiring an additional 47,806 shares during the period. Conestoga Capital Advisors LLC grew its stake in shares of Neogen by 15.0% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 4,455,883 shares of the company’s stock worth $107,342,000 after buying an additional 580,088 shares during the last quarter. Select Equity Group L.P. grew its stake in shares of Neogen by 345.0% in the 1st quarter. Select Equity Group L.P. now owns 4,068,056 shares of the company’s stock worth $125,459,000 after buying an additional 3,153,848 shares during the last quarter. State Street Corp grew its stake in shares of Neogen by 2.6% in the 1st quarter. State Street Corp now owns 3,586,058 shares of the company’s stock worth $110,594,000 after buying an additional 90,911 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its stake in shares of Neogen by 7.0% in the 1st quarter. Neuberger Berman Group LLC now owns 2,830,863 shares of the company’s stock worth $87,304,000 after buying an additional 184,898 shares during the last quarter. Hedge funds and other institutional investors own 97.86% of the company’s stock.
Neogen Corporation, together with its subsidiaries, develops, manufactures, and markets various products for 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.
- Get a free copy of the StockNews.com research report on Neogen (NEOG)
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