Neogen (NASDAQ:NEOG) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Neogen Corporation (NASDAQ:NEOG)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.82 and traded as high as $8.84. Neogen shares last traded at $8.81, with a volume of 2,014,423 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NEOG shares. Wall Street Zen raised shares of Neogen from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Neogen in a research note on Friday, April 10th. Finally, William Blair reaffirmed a “market perform” rating on shares of Neogen in a research note on Monday, March 2nd. 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’s stock. Based on data from MarketBeat.com, Neogen presently has an average rating of “Hold” and a consensus target price of $10.67.

Neogen Price Performance

The company has a quick ratio of 2.84, a current ratio of 3.92 and a debt-to-equity ratio of 0.38. The business’s 50-day simple moving average is $9.17 and its 200 day simple moving average is $8.82. The firm has a market capitalization of $1.92 billion, a P/E ratio of -3.15, a PEG ratio of 3.92 and a beta of 1.80.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NEOG. UMB Bank n.a. grew its holdings in shares of Neogen by 238.2% in the fourth 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 during the last quarter. Hantz Financial Services Inc. boosted its holdings in Neogen by 816.9% in the fourth quarter. Hantz Financial Services Inc. now owns 7,592 shares of the company’s stock valued at $53,000 after acquiring an additional 6,764 shares in the last quarter. Cresset Asset Management LLC bought a new stake in Neogen in the second quarter valued at $53,000. Evergreen Capital Management LLC bought a new stake in Neogen in the second quarter valued at $56,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in 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. 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.