Neogen (NASDAQ:NEOG) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

Neogen Corporation (NASDAQ:NEOG)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $9.39 and traded as high as $9.75. Neogen shares last traded at $9.65, with a volume of 1,455,338 shares changing hands.

Wall Street Analyst Weigh In

NEOG has been the subject of a number of analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Neogen in a research report on Wednesday, July 8th. Wall Street Zen upgraded shares of Neogen from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $10.67.

Neogen Trading Up 0.3%

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 firm has a market cap of $2.10 billion, a P/E ratio of -3.45, a P/E/G ratio of 4.31 and a beta of 1.80. The company’s 50 day simple moving average is $9.08 and its 200-day simple moving average is $9.39.

Institutional Investors Weigh In On Neogen

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cibc World Markets Corp purchased a new position in Neogen during the 4th quarter valued at $47,983,000. T. Rowe Price Investment Management Inc. increased its stake in Neogen by 249.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,181,768 shares of the company’s stock worth $57,191,000 after purchasing an additional 5,838,570 shares during the period. CIBC Bancorp USA Inc. purchased a new stake in Neogen in the third quarter worth $28,969,000. Hudson Bay Capital Management LP bought a new stake in shares of Neogen during the third quarter worth $28,550,000. Finally, SG Americas Securities LLC lifted its position in shares of Neogen by 287.4% during the first quarter. SG Americas Securities LLC now owns 6,266,033 shares of the company’s stock worth $58,211,000 after purchasing an additional 4,648,436 shares during the last quarter. 96.73% of the stock is owned by institutional investors.

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.