Neogen (NASDAQ:NEOG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Neogen (NASDAQ:NEOG) from a sell rating to a hold rating in a research report released on Saturday morning.

NEOG has been the subject of several other research reports. Guggenheim lowered their price target on shares of Neogen from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, June 30th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Neogen in a research report on Wednesday, October 8th. Zacks Research upgraded shares of Neogen from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 20th. William Blair cut shares of Neogen from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 29th. Finally, CJS Securities started coverage on shares of Neogen in a report on Monday, September 29th. They set a “market perform” rating and a $10.00 price objective for the company. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $8.33.

Neogen Trading Down 1.5%

NEOG opened at $5.95 on Friday. 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 stock has a market capitalization of $1.29 billion, a PE ratio of -1.24 and a beta of 1.90. Neogen has a 1-year low of $3.87 and a 1-year high of $16.79. The firm has a 50-day moving average price of $5.59 and a two-hundred day moving average price of $5.58.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Corient Private Wealth LLC lifted its stake in Neogen by 129.8% in the second quarter. Corient Private Wealth LLC now owns 47,177 shares of the company’s stock valued at $226,000 after buying an additional 26,643 shares in the last quarter. Osaic Holdings Inc. lifted its stake in Neogen by 183.5% in the second quarter. Osaic Holdings Inc. now owns 12,663 shares of the company’s stock valued at $61,000 after buying an additional 8,196 shares in the last quarter. Squarepoint Ops LLC lifted its stake in Neogen by 178.4% in the second quarter. Squarepoint Ops LLC now owns 1,247,973 shares of the company’s stock valued at $5,965,000 after buying an additional 799,736 shares in the last quarter. Caxton Associates LLP bought a new position in Neogen in the second quarter valued at approximately $587,000. Finally, Public Sector Pension Investment Board lifted its position in shares of Neogen by 7.4% in the second quarter. Public Sector Pension Investment Board now owns 672,304 shares of the company’s stock worth $3,214,000 after purchasing an additional 46,210 shares in the last quarter. Institutional investors 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.