Neogen (NASDAQ:NEOG) Upgraded to “Buy” at Wall Street Zen

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

A number of other research analysts also recently weighed in on NEOG. Guggenheim reissued a “buy” rating and set a $12.00 target price (up from $8.00) on shares of Neogen in a research report on Friday, January 9th. Piper Sandler reiterated a “neutral” rating and issued a $10.00 price objective (up previously from $6.50) on shares of Neogen in a research note on Monday, January 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of Neogen in a report on Monday, December 29th. Finally, CJS Securities upgraded Neogen from a “market perform” rating to an “outperform” rating and set a $10.00 target price on the stock in a research note on Wednesday, December 10th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $10.67.

Neogen Trading Up 1.5%

Shares of Neogen stock opened at $10.94 on Friday. The firm has a market cap of $2.38 billion, a PE ratio of -3.95 and a beta of 1.98. Neogen has a 1 year low of $3.87 and a 1 year high of $11.15. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.91 and a quick ratio of 2.80. The stock has a fifty day moving average price of $8.67 and a 200-day moving average price of $6.76.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings results on Thursday, January 8th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. Neogen had a negative net margin of 68.47% and a positive return on equity of 2.14%. The company had revenue of $224.69 million for the quarter, compared to the consensus estimate of $208.50 million. During the same period in the previous year, the firm earned $0.11 EPS. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. Equities research analysts anticipate that Neogen will post 0.38 EPS for the current year.

Institutional Investors Weigh In On Neogen

Several institutional investors have recently made changes to their positions in NEOG. Huntington National Bank boosted its holdings in shares of Neogen by 8.4% in the fourth quarter. Huntington National Bank now owns 13,552 shares of the company’s stock worth $95,000 after acquiring an additional 1,045 shares during the period. ProShare Advisors LLC lifted its holdings in Neogen by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 42,509 shares of the company’s stock worth $297,000 after purchasing an additional 1,331 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in Neogen by 1.2% during the 4th quarter. State of Alaska Department of Revenue now owns 110,645 shares of the company’s stock worth $773,000 after purchasing an additional 1,353 shares in the last quarter. Evergreen Capital Management LLC boosted its stake in Neogen by 12.3% in the 4th quarter. Evergreen Capital Management LLC now owns 13,753 shares of the company’s stock worth $96,000 after purchasing an additional 1,504 shares during the period. Finally, California State Teachers Retirement System grew its holdings in Neogen by 1.1% during the 2nd quarter. California State Teachers Retirement System now owns 191,084 shares of the company’s stock valued at $913,000 after buying an additional 2,166 shares in the last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

About Neogen

Neogen Corporation is a global provider of food and animal safety products, offering a broad portfolio of diagnostic and testing solutions. Headquartered in Lansing, Michigan, the company develops and manufactures tests designed to detect foodborne pathogens, allergens and toxins in food, beverage and environmental samples. Since its founding in 1982, Neogen has focused on delivering rapid, accurate and user‐friendly assays to food processors, grain handlers and quality laboratories around the world.

In the food safety arena, Neogen’s product lineup includes immunoassay kits, molecular diagnostics and enrichment media for pathogens such as Salmonella, Listeria and E.