Neogen (NASDAQ:NEOG) Reaches New 1-Year High – Should You Buy?

Neogen Corporation (NASDAQ:NEOG) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $11.38 and last traded at $11.22, with a volume of 1937638 shares changing hands. The stock had previously closed at $11.09.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Neogen in a report on Monday, December 29th. Wall Street Zen raised shares of Neogen from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Guggenheim reaffirmed a “buy” rating and set a $12.00 price objective (up from $8.00) on shares of Neogen in a research report on Friday, January 9th. CJS Securities upgraded shares of Neogen from a “market perform” rating to an “outperform” rating and set a $10.00 target price for the company in a research note on Wednesday, December 10th. Finally, Piper Sandler restated a “neutral” rating and issued a $10.00 price target (up from $6.50) on shares of Neogen in a research note on Monday, January 12th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Neogen currently has a consensus rating of “Hold” and an average price target of $10.67.

Neogen Stock Up 1.2%

The firm’s 50-day moving average price is $9.28 and its two-hundred day moving average price is $7.10. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.80 and a current ratio of 3.91. The firm has a market cap of $2.44 billion, a PE ratio of -4.05 and a beta of 1.98.

Neogen (NASDAQ:NEOG) last released its quarterly earnings results on Thursday, January 8th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. The firm had revenue of $224.69 million for 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 last year, the business posted $0.11 EPS. As a group, equities research analysts expect that Neogen Corporation will post 0.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NEOG. UMB Bank n.a. increased its stake in Neogen by 238.2% in the fourth quarter. UMB Bank n.a. now owns 6,422 shares of the company’s stock valued at $45,000 after purchasing an additional 4,523 shares during the period. Hantz Financial Services Inc. grew its holdings in shares of Neogen by 816.9% during the fourth quarter. Hantz Financial Services Inc. now owns 7,592 shares of the company’s stock worth $53,000 after buying an additional 6,764 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Neogen by 3,158.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 8,309 shares of the company’s stock valued at $58,000 after acquiring an additional 8,054 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Neogen during the 4th quarter valued at approximately $65,000. Finally, Merit Financial Group LLC purchased a new stake in Neogen during the 4th quarter valued at approximately $71,000. 96.73% of the stock is owned by hedge funds and other institutional investors.

Neogen Company Profile

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.