Neogen Corporation (NASDAQ:NEOG) Given Consensus Rating of "Hold" by Analysts

Key Points

• Analysts assign Neogen a consensus “Hold” rating, with one sell, one hold, and three buy recommendations. The average 12-month price target is $12.00, while recent actions included upgrades from Wall Street Zen and Piper Sandler.
• Neogen reported quarterly earnings of $0.09 per share, beating the $0.06 consensus estimate, while revenue of $225.3 million also exceeded expectations. Revenue was essentially flat year over year, and analysts expect full-year earnings of $0.27 per share.
• Institutional investors own 96.73% of Neogen’s shares, with several funds recently initiating or increasing positions. The stock opened at $11.78, near its 52-week high of $12.85.

Shares of Neogen Corporation (NASDAQ:NEOG - Get Free Report) have been given a consensus rating of "Hold" by the five analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $12.00.

NEOG has been the subject of several research analyst reports. Wall Street Zen raised shares of Neogen from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Weiss Ratings upgraded Neogen from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, August 7th. Finally, Piper Sandler raised Neogen from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $13.00 to $14.00 in a report on Wednesday, August 26th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NEOG. Nykredit A S bought a new position in Neogen during the 2nd quarter worth about $28,000. Public Employees Retirement System of Ohio purchased a new position in Neogen during the second quarter valued at approximately $34,000. UMB Bank n.a. increased its holdings in Neogen by 238.2% during the fourth quarter. UMB Bank n.a. now owns 6,422 shares of the company's stock valued at $45,000 after buying an additional 4,523 shares during the period. Hantz Financial Services Inc. raised its stake in Neogen by 816.9% in 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 in the last quarter. Finally, Cresset Asset Management LLC purchased a new stake in shares of Neogen during the 2nd quarter worth $53,000. 96.73% of the stock is currently owned by institutional investors.

Neogen Price Performance

NASDAQ NEOG opened at $11.78 on Monday. The company has a 50-day moving average price of $10.98 and a 200-day moving average price of $9.92. Neogen has a 52 week low of $4.90 and a 52 week high of $12.85. The company has a quick ratio of 2.91, a current ratio of 3.82 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $2.57 billion, a P/E ratio of -392.67, a PEG ratio of 4.42 and a beta of 1.76.

Neogen (NASDAQ:NEOG - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.03. The company had revenue of $225.30 million for the quarter, compared to the consensus estimate of $212.35 million. Neogen had a positive return on equity of 2.78% and a negative net margin of 0.91%.Neogen's quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the business earned ($2.82) earnings per share. Equities research analysts anticipate that Neogen will post 0.27 earnings per share for the current year.

Neogen Company Profile

Neogen Corporation develops and markets products and services designed to protect food, animals and people. The company's offerings help customers detect, prevent and manage biological, chemical and physical hazards across the food production, agricultural and animal care industries.

Its food safety portfolio includes test kits and related technologies for detecting pathogens, allergens, mycotoxins, spoilage organisms, veterinary drug residues and other contaminants. Neogen also provides sanitation and hygiene products, diagnostic tools, laboratory services, software and training for food manufacturers, processors, retailers and other organizations involved in the food supply chain.

Neogen's animal safety business serves livestock, poultry, companion animal and veterinary markets.

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