Neogen (NASDAQ:NEOG) Stock Rating Lowered by Wall Street Zen

Neogen (NASDAQ:NEOG) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Sunday, Wall Street Zen reports.

NEOG has been the topic of several other research reports. Weiss Ratings upgraded Neogen from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 7th. Guggenheim restated a “buy” rating and issued a $14.00 price target (up from $12.00) on shares of Neogen in a research note on Wednesday, September 30th. Finally, Piper Sandler upgraded Neogen from a “neutral” rating to an “overweight” rating and raised their price target for the company from $13.00 to $14.00 in a research note on Wednesday, August 26th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $12.67.

Neogen Trading Up 1.3%

Neogen stock opened at $12.00 on Friday. The firm has a 50-day moving average of $12.13 and a 200-day moving average of $10.33. Neogen has a one year low of $5.37 and a one year high of $14.26. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.90 and a quick ratio of 2.92. The company has a market cap of $2.62 billion, a price-to-earnings ratio of -48.00, a P/E/G ratio of 4.44 and a beta of 1.79.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings data on Tuesday, October 6th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.03. The company had revenue of $222.80 million during the quarter, compared to analysts’ expectations of $208.18 million. Neogen had a positive return on equity of 3.29% and a negative net margin of 6.35%. Neogen’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.04 EPS. On average, equities analysts expect that Neogen will post 0.27 earnings per share for the current fiscal year.

Institutional Trading of Neogen

Several institutional investors and hedge funds have recently added to or reduced their stakes in NEOG. Nykredit A S acquired a new position in shares of Neogen during the 2nd quarter worth approximately $28,000. Farther Finance Advisors LLC raised its stake in Neogen by 76.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,184 shares of the company’s stock valued at $28,000 after acquiring an additional 944 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Neogen during the 2nd quarter valued at $34,000. Integrated Wealth Concepts LLC acquired a new stake in Neogen during the 2nd quarter valued at $73,000. Finally, Alpine Global Management LLC acquired a new stake in Neogen during the 4th quarter valued at $89,000. 96.73% of the stock is owned by institutional investors.

Neogen Company Profile

Neogen Corporation is a global provider of food safety and animal safety products and services. The company develops diagnostic tests, laboratory products, and related solutions that help customers detect foodborne pathogens, allergens, toxins, residues, and other contaminants throughout the food production process.

Its food safety portfolio includes test kits, culture media, molecular testing systems, sanitation monitoring products, and laboratory supplies used by food manufacturers, processors, retailers, and regulatory organizations.