Neogen (NASDAQ:NEOG) Rating Increased to Buy at Wall Street Zen

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

Several other research firms have also commented on NEOG. Zacks Research raised shares of Neogen from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 20th. CJS Securities upgraded shares of Neogen from a “market perform” rating to an “outperform” rating and set a $10.00 price objective for the company in a research note on Wednesday. Weiss Ratings reissued a “sell (e+)” rating on shares of Neogen in a research report on Monday, December 1st. Finally, Piper Sandler set a $6.50 price target on shares of Neogen and gave the stock a “neutral” rating in a report on Thursday, October 16th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $8.83.

Neogen Trading Down 2.6%

Shares of NASDAQ NEOG opened at $6.86 on Friday. Neogen has a 1-year low of $3.87 and a 1-year high of $13.40. The business has a fifty day moving average price of $6.11 and a 200 day moving average price of $5.62. The stock has a market capitalization of $1.49 billion, a P/E ratio of -1.43 and a beta of 1.99. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.58 and a quick ratio of 2.26.

Institutional Investors Weigh In On Neogen

Large investors have recently made changes to their positions in the stock. Savant Capital LLC acquired a new position in shares of Neogen in the second quarter valued at about $50,000. Cresset Asset Management LLC acquired a new stake in shares of Neogen during the second quarter worth about $53,000. Evergreen Capital Management LLC purchased a new stake in Neogen in the second quarter valued at approximately $56,000. Blue Trust Inc. increased its holdings in Neogen by 181.7% in the 2nd quarter. Blue Trust Inc. now owns 11,974 shares of the company’s stock worth $57,000 after buying an additional 7,724 shares during the period. Finally, Osaic Holdings Inc. raised its position in Neogen by 183.5% during the 2nd quarter. Osaic Holdings Inc. now owns 12,663 shares of the company’s stock worth $61,000 after buying an additional 8,196 shares during the last quarter. 96.73% of the stock is owned by hedge funds and other institutional investors.

About Neogen

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.