Neogen (NASDAQ:NEOG) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Neogen (NASDAQ:NEOG) to a sell rating in a research report report published on Monday.

Separately, Piper Sandler upped their price target on shares of Neogen from $17.00 to $17.50 and gave the company a neutral rating in a report on Tuesday, August 6th.

Neogen Price Performance

Neogen stock opened at $16.81 on Monday. Neogen has a 52-week low of $11.46 and a 52-week high of $20.89. The company has a quick ratio of 2.59, a current ratio of 3.82 and a debt-to-equity ratio of 0.28. The firm’s fifty day moving average is $16.61 and its 200 day moving average is $15.21. The company has a market cap of $3.64 billion, a price-to-earnings ratio of 1,681.00 and a beta of 1.21.

Neogen (NASDAQ:NEOG) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.02). The company had revenue of $236.80 million for the quarter, compared to analysts’ expectations of $225.83 million. Neogen had a negative net margin of 1.02% and a positive return on equity of 3.09%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.14 EPS. Sell-side analysts forecast that Neogen will post 0.54 EPS for the current fiscal year.

Insider Activity at Neogen

In related news, Director James P. Tobin bought 3,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were acquired at an average cost of $16.86 per share, for a total transaction of $50,580.00. Following the purchase, the director now directly owns 23,392 shares of the company’s stock, valued at $394,389.12. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 0.71% of the stock is owned by company insiders.

Institutional Investors Weigh In On Neogen

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Neogen by 0.9% in the first quarter. Vanguard Group Inc. now owns 19,715,974 shares of the company’s stock worth $311,118,000 after buying an additional 169,237 shares in the last quarter. Select Equity Group L.P. grew its stake in Neogen by 23.1% in the second quarter. Select Equity Group L.P. now owns 15,530,439 shares of the company’s stock valued at $242,741,000 after purchasing an additional 2,914,893 shares during the last quarter. William Blair Investment Management LLC raised its holdings in Neogen by 64.7% in the second quarter. William Blair Investment Management LLC now owns 12,013,072 shares of the company’s stock worth $187,764,000 after purchasing an additional 4,717,696 shares in the last quarter. Baillie Gifford & Co. lifted its position in shares of Neogen by 42.3% during the first quarter. Baillie Gifford & Co. now owns 11,789,521 shares of the company’s stock valued at $186,039,000 after buying an additional 3,502,807 shares during the last quarter. Finally, Bamco Inc. NY boosted its holdings in shares of Neogen by 10.3% in the 1st quarter. Bamco Inc. NY now owns 7,304,967 shares of the company’s stock valued at $115,272,000 after buying an additional 680,668 shares in the last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Neogen Company Profile

Neogen Corporation, together with its subsidiaries, engages in the development, manufacture, and marketing of various products and services dedicated to food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment offers diagnostic test kits and related products to detect dangerous and unintended substances in food and animal feed, including foodborne pathogens, spoilage organisms, natural toxins, food allergens, genetic modifications, ruminant by-products, meat speciation, drug residues, pesticide residues, and general sanitation concerns; and AccuPoint Advanced rapid sanitation test to detect the presence of adenosine triphosphate, a chemical found in living cells, as well as provides genomics-based diagnostic technology and software systems that help testers to objectively analyze and store their results and perform analysis on the results from multiple locations over extended periods.