Neogen Corporation (NASDAQ:NEOG) Receives Average Recommendation of “Hold” from Brokerages

Neogen Corporation (NASDAQ:NEOG) has received a consensus recommendation of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $10.6667.

Several equities analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Neogen from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Neogen in a report on Friday, April 10th. Finally, William Blair reiterated a “market perform” rating on shares of Neogen in a report on Monday, March 2nd.

Hedge Funds Weigh In On Neogen

Institutional investors have recently made changes to their positions in the stock. UMB Bank n.a. raised its holdings in shares of Neogen by 238.2% during the fourth quarter. UMB Bank n.a. now owns 6,422 shares of the company’s stock valued at $45,000 after purchasing an additional 4,523 shares during the period. Hantz Financial Services Inc. raised its holdings 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 acquiring an additional 6,764 shares during the last quarter. Cresset Asset Management LLC acquired a new stake in shares of Neogen in the 2nd quarter worth about $53,000. Evergreen Capital Management LLC acquired a new stake in shares of Neogen in the 2nd quarter worth about $56,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Neogen by 3,158.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 8,309 shares of the company’s stock worth $58,000 after acquiring an additional 8,054 shares during the last quarter. Institutional investors and hedge funds own 96.73% of the company’s stock.

Neogen Stock Performance

NASDAQ NEOG opened at $8.90 on Friday. The firm’s fifty day moving average price is $9.16 and its two-hundred day moving average price is $8.84. The stock has a market cap of $1.94 billion, a PE ratio of -3.18, a PEG ratio of 4.08 and a beta of 1.80. Neogen has a fifty-two week low of $4.56 and a fifty-two week high of $11.43. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.84 and a current ratio of 3.92.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings data on Thursday, April 9th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.05. The company had revenue of $211.20 million for the quarter, compared to analysts’ expectations of $204.62 million. Neogen had a negative net margin of 69.93% and a positive return on equity of 2.35%. The business’s quarterly revenue was down 4.4% on a year-over-year basis. On average, equities analysts expect that Neogen will post 0.23 EPS for the current fiscal year.

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.