Neogen (NASDAQ:NEOG) Stock Bumped Up to "Strong-Buy" by Wall Street Zen

Key Points

• Wall Street Zen upgraded Neogen to “strong-buy” from “buy.” Analyst views remain mixed overall, with MarketBeat reporting an average “hold” rating and a $12.67 average price target.
• Neogen beat quarterly expectations, reporting EPS of $0.08 versus $0.05 expected and revenue of $222.8 million versus $208.18 million expected. Revenue rose 6.5% year over year.
• Other recent analyst actions included Piper Sandler raising its rating to “overweight” and lifting its target to $14, while Guggenheim reiterated “buy” and also set a $14 target.

Neogen (NASDAQ:NEOG - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report released on Saturday, Wall Street Zen reports.

Other research analysts have also issued reports about the company. Piper Sandler raised Neogen from a "neutral" rating to an "overweight" rating and upped their price target for the company from $13.00 to $14.00 in a research report on Wednesday, August 26th. Guggenheim reissued a "buy" rating and issued a $14.00 price objective (up from $12.00) on shares of Neogen in a research note on Wednesday, September 30th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Neogen in a research report on Wednesday, November 4th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Neogen has an average rating of "Hold" and an average price target of $12.67.

Neogen Trading Up 0.4%

NASDAQ NEOG opened at $11.23 on Friday. Neogen has a twelve month low of $5.37 and a twelve month high of $14.26. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.92 and a current ratio of 3.90. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of -44.92, a PEG ratio of 4.00 and a beta of 1.86. The firm's 50 day moving average price is $12.24 and its two-hundred day moving average price is $10.52.

Neogen (NASDAQ:NEOG - Get Free Report) last announced its earnings results on Tuesday, October 6th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. The company had revenue of $222.80 million for the quarter, compared to the consensus estimate of $208.18 million. Neogen had a negative net margin of 6.35% and a positive return on equity of 3.29%. The company's revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.04 EPS. Equities analysts anticipate that Neogen will post 0.28 EPS for the current year.

Institutional Investors Weigh In On Neogen

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NEOG. BlackRock Inc. purchased a new position in shares of Neogen during the 2nd quarter valued at $300,545,000. Dimensional Fund Advisors LP increased its stake in shares of Neogen by 23.4% in the first quarter. Dimensional Fund Advisors LP now owns 9,132,021 shares of the company's stock worth $84,831,000 after acquiring an additional 1,733,767 shares during the last quarter. Bamco Inc. NY acquired a new position in shares of Neogen in the second quarter worth $45,094,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Neogen by 1.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,537,645 shares of the company's stock worth $45,282,000 after acquiring an additional 49,399 shares during the last quarter. Finally, Cibc World Market Inc. purchased a new stake in shares of Neogen during the second quarter worth $31,469,000. Hedge funds and other institutional investors own 96.73% of the company's stock.

Neogen Company Profile

Neogen Corporation develops and markets products and services focused on food and animal safety. Its offerings help food producers, processors, laboratories and livestock producers detect risks, support animal health and meet safety and quality requirements. Neogen's food safety products include tests for foodborne pathogens, allergens, toxins and sanitation indicators, as well as related laboratory supplies and services. Its animal safety offerings include veterinary instruments, animal health products, biosecurity solutions and genetic testing services for livestock.

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