Neogen (NASDAQ:NEOG) Lifted to Sell at 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 increased their price target on 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 $15.71 on Monday. Neogen has a 52-week low of $11.46 and a 52-week high of $20.89. The company has a market cap of $3.40 billion, a price-to-earnings ratio of 1,571.00 and a beta of 1.21. The firm’s fifty day moving average is $16.56 and its 200 day moving average is $15.22. The company has a quick ratio of 2.59, a current ratio of 3.82 and a debt-to-equity ratio of 0.28.

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

Insider Buying and Selling

In other Neogen news, Director James P. Tobin bought 3,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was acquired at an average price of $16.86 per share, for a total transaction of $50,580.00. Following the completion of the transaction, the director now directly owns 23,392 shares of the company’s stock, valued at $394,389.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.71% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Neogen

A number of institutional investors and hedge funds have recently modified their holdings of NEOG. Inspire Investing LLC increased its stake in Neogen by 2.7% in the second quarter. Inspire Investing LLC now owns 26,074 shares of the company’s stock worth $408,000 after purchasing an additional 685 shares during the period. Northwest Investment Counselors LLC increased its stake in Neogen by 1.1% in the 1st quarter. Northwest Investment Counselors LLC now owns 71,621 shares of the company’s stock worth $1,130,000 after buying an additional 809 shares during the period. Bessemer Group Inc. lifted its holdings in Neogen by 1.2% during the 1st quarter. Bessemer Group Inc. now owns 73,920 shares of the company’s stock valued at $1,166,000 after buying an additional 851 shares in the last quarter. Retirement Systems of Alabama boosted its position in Neogen by 0.4% in the 1st quarter. Retirement Systems of Alabama now owns 247,423 shares of the company’s stock valued at $3,904,000 after buying an additional 889 shares during the period. Finally, Arizona State Retirement System grew its stake in Neogen by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 57,609 shares of the company’s stock worth $900,000 after acquiring an additional 1,079 shares in the last quarter. 96.73% of the stock is owned by institutional investors.

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.