Neogen (NASDAQ:NEOG) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Neogen (NASDAQ:NEOG) to a sell rating in a report published on Thursday.

Separately, Piper Sandler increased their price target on shares of Neogen from $17.00 to $17.50 and gave the company a neutral rating in a research note on Tuesday, August 6th.

Neogen Trading Down 3.8 %

Shares of NEOG opened at $16.15 on Thursday. The stock has a fifty day moving average price of $16.42 and a two-hundred day moving average price of $15.23. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.66 and a current ratio of 3.82. The company has a market cap of $3.50 billion, a price-to-earnings ratio of 1,615.00 and a beta of 1.20. Neogen has a 52-week low of $11.46 and a 52-week high of $23.64.

Neogen (NASDAQ:NEOG) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). The business had revenue of $236.80 million during the quarter, compared to the consensus estimate of $225.83 million. Neogen had a negative net margin of 1.02% and a positive return on equity of 3.09%. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.14 earnings per share. Analysts predict that Neogen will post 0.56 EPS for the current fiscal year.

Insider Activity

In other news, Director James P. Tobin purchased 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average price of $16.86 per share, for a total transaction of $50,580.00. Following the completion of the acquisition, the director now directly owns 23,392 shares in the company, valued at $394,389.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.71% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Neogen

Large investors have recently bought and sold shares of the business. Covestor Ltd raised its position in shares of Neogen by 173.2% during the 1st quarter. Covestor Ltd now owns 1,970 shares of the company’s stock valued at $31,000 after acquiring an additional 1,249 shares during the last quarter. Innealta Capital LLC bought a new stake in Neogen in the second quarter valued at about $46,000. Headlands Technologies LLC lifted its stake in Neogen by 264.1% in the second quarter. Headlands Technologies LLC now owns 3,397 shares of the company’s stock valued at $53,000 after buying an additional 2,464 shares during the period. Family Firm Inc. bought a new position in Neogen during the second quarter worth about $90,000. Finally, Quantum Private Wealth LLC acquired a new position in shares of Neogen during the 2nd quarter worth about $156,000. 96.73% of the stock is currently owned by institutional investors and hedge funds.

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.