Neogen (NASDAQ:NEOG) Stock Price Down 5.5% – Should You Sell?

Neogen Co. (NASDAQ:NEOG) shares traded down 5.5% during mid-day trading on Tuesday . The company traded as low as $11.92 and last traded at $11.95. 147,322 shares traded hands during trading, a decline of 95% from the average session volume of 2,730,861 shares. The stock had previously closed at $12.64.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on NEOG shares. Guggenheim initiated coverage on Neogen in a research note on Thursday, December 19th. They issued a “buy” rating and a $15.00 price target for the company. StockNews.com raised shares of Neogen to a “sell” rating in a research note on Monday, September 30th.

Neogen Price Performance

The company has a quick ratio of 2.79, a current ratio of 4.41 and a debt-to-equity ratio of 0.28. The company’s fifty day moving average price is $13.47 and its two-hundred day moving average price is $15.04. The company has a market cap of $2.56 billion, a price-to-earnings ratio of -107.55 and a beta of 1.23.

Neogen (NASDAQ:NEOG) last released its earnings results on Friday, January 10th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.12. The firm had revenue of $231.30 million during the quarter, compared to analysts’ expectations of $227.16 million. Neogen had a positive return on equity of 2.80% and a negative net margin of 2.58%. The company’s revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 EPS. On average, equities research analysts forecast that Neogen Co. will post 0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Neogen

Several institutional investors have recently bought and sold shares of the company. Select Equity Group L.P. lifted its position in shares of Neogen by 23.1% in the second quarter. Select Equity Group L.P. now owns 15,530,439 shares of the company’s stock worth $242,741,000 after purchasing an additional 2,914,893 shares in the last quarter. Conestoga Capital Advisors LLC boosted its stake in shares of Neogen by 24.5% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 8,706,224 shares of the company’s stock worth $146,352,000 after buying an additional 1,711,238 shares during the last quarter. State Street Corp grew its holdings in shares of Neogen by 3.1% in the 3rd quarter. State Street Corp now owns 7,932,192 shares of the company’s stock valued at $133,340,000 after acquiring an additional 236,762 shares in the last quarter. Bamco Inc. NY increased its position in shares of Neogen by 1.4% in the third quarter. Bamco Inc. NY now owns 7,303,115 shares of the company’s stock valued at $122,765,000 after acquiring an additional 98,067 shares during the last quarter. Finally, Champlain Investment Partners LLC raised its holdings in Neogen by 10.7% during the third quarter. Champlain Investment Partners LLC now owns 7,110,530 shares of the company’s stock worth $119,528,000 after acquiring an additional 690,029 shares in the last quarter. 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.