Neogen Corporation (NASDAQ:NEOG) Receives Consensus Rating of “Hold” from Brokerages

Shares of Neogen Corporation (NASDAQ:NEOG) have received an average rating of “Hold” from the six analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $10.6667.

A number of research firms have recently weighed in on NEOG. Wall Street Zen upgraded shares of Neogen from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. William Blair restated a “market perform” rating on shares of Neogen in a report on Monday, March 2nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Neogen in a research report on Monday, December 29th. Guggenheim reiterated a “buy” rating and issued a $12.00 price objective (up from $8.00) on shares of Neogen in a research report on Friday, January 9th. Finally, Piper Sandler reissued a “neutral” rating and set a $10.00 target price (up from $6.50) on shares of Neogen in a research note on Monday, January 12th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. UMB Bank n.a. raised its holdings in Neogen by 238.2% in the 4th quarter. UMB Bank n.a. now owns 6,422 shares of the company’s stock worth $45,000 after purchasing an additional 4,523 shares in the last quarter. Hantz Financial Services Inc. lifted its position in shares of Neogen by 816.9% in the 4th quarter. Hantz Financial Services Inc. now owns 7,592 shares of the company’s stock worth $53,000 after purchasing an additional 6,764 shares during the period. Cresset Asset Management LLC bought a new stake in shares of Neogen during the 2nd quarter valued at about $53,000. Evergreen Capital Management LLC bought a new stake in shares of Neogen during the 2nd quarter valued at about $56,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Neogen by 3,158.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 8,309 shares of the company’s stock valued at $58,000 after buying an additional 8,054 shares during the period. 96.73% of the stock is owned by hedge funds and other institutional investors.

Neogen Trading Down 3.9%

NASDAQ:NEOG opened at $8.36 on Monday. The firm has a market capitalization of $1.82 billion, a P/E ratio of -3.02 and a beta of 1.95. The company has a quick ratio of 2.80, a current ratio of 3.91 and a debt-to-equity ratio of 0.38. The company has a fifty day moving average of $10.18 and a 200 day moving average of $7.65. Neogen has a 52 week low of $3.87 and a 52 week high of $11.43.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings results on Thursday, January 8th. The company reported $0.10 earnings per share (EPS) 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 business had revenue of $224.69 million for the quarter, compared to analyst estimates of $208.50 million. During the same quarter last year, the firm earned $0.11 EPS. The company’s revenue was down 2.9% on a year-over-year basis. On average, research analysts predict that Neogen will post 0.38 earnings per share for the current year.

Neogen Company Profile

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.