Neogen (NASDAQ:NEOG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Neogen (NASDAQ:NEOG) from a hold rating to a buy rating in a report published on Saturday.

A number of other research firms also recently issued reports on NEOG. Weiss Ratings reissued a “sell (e+)” rating on shares of Neogen in a research report on Monday, December 29th. Guggenheim reissued a “buy” rating and issued a $12.00 price objective (up previously from $8.00) on shares of Neogen in a research report on Friday, January 9th. CJS Securities raised shares of Neogen from a “market perform” rating to an “outperform” rating and set a $10.00 target price on the stock in a research note on Wednesday, December 10th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $10.00 price target (up from $6.50) on shares of Neogen in a research report on Monday, January 12th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $10.67.

Neogen Trading Up 1.5%

Shares of NEOG opened at $10.94 on Friday. Neogen has a twelve month low of $3.87 and a twelve month high of $11.15. The firm has a market capitalization of $2.38 billion, a P/E ratio of -3.95 and a beta of 1.98. The company has a current ratio of 3.91, a quick ratio of 2.80 and a debt-to-equity ratio of 0.38. The stock’s fifty day simple moving average is $8.77 and its 200 day simple moving average is $6.83.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings results on Thursday, January 8th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The firm had revenue of $224.69 million during the quarter, compared to the consensus estimate of $208.50 million. Neogen had a positive return on equity of 2.14% and a negative net margin of 68.47%.The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.11 earnings per share. On average, equities research analysts forecast that Neogen will post 0.38 earnings per share for the current year.

Hedge Funds Weigh In On Neogen

A number of institutional investors have recently added to or reduced their stakes in NEOG. ING Groep NV acquired a new stake in shares of Neogen during the third quarter valued at about $80,288,000. Norges Bank purchased a new position in Neogen in the second quarter valued at about $43,387,000. Clarkston Capital Partners LLC grew its stake in Neogen by 123.2% during the 2nd quarter. Clarkston Capital Partners LLC now owns 14,005,725 shares of the company’s stock valued at $66,947,000 after purchasing an additional 7,729,650 shares in the last quarter. Cibc World Markets Corp acquired a new stake in Neogen during the 4th quarter valued at approximately $47,983,000. Finally, CIBC Bancorp USA Inc. purchased a new stake in Neogen during the 3rd quarter worth approximately $28,969,000. Institutional investors and hedge funds 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.