Neogen Corporation (NASDAQ:NEOG) Stock Has Consensus Target Price of $12.67 According to Brokerages

Key Points

• Analysts have a consensus “Hold” rating on Neogen, with three buys, one hold, and one sell among five covering firms. The average 12-month price target is $12.67, compared with the stock’s $11.82 opening price.
• Neogen reported quarterly EPS of $0.08, beating the $0.05 consensus estimate, while revenue of $222.8 million exceeded forecasts and increased 6.5% year over year. Analysts expect full-year EPS of $0.28.
• Institutional investors own 96.73% of the company, with several funds increasing their positions during the third quarter. The stock has traded between $5.37 and $14.26 over the past year and has a market capitalization of approximately $2.58 billion.

Shares of Neogen Corporation (NASDAQ:NEOG - Get Free Report) have earned a consensus recommendation of "Hold" from the five research firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $12.67.

A number of equities analysts recently weighed in on the company. Weiss Ratings raised Neogen from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, August 7th. Piper Sandler raised Neogen from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $13.00 to $14.00 in a research note on Wednesday, August 26th. Wall Street Zen lowered Neogen from a "strong-buy" rating to a "buy" rating in a research report on Sunday, October 11th. Finally, Guggenheim restated a "buy" rating and set a $14.00 price objective (up from $12.00) on shares of Neogen in a research report on Wednesday, September 30th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NEOG. Farther Finance Advisors LLC raised its holdings in shares of Neogen by 76.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,184 shares of the company's stock worth $28,000 after acquiring an additional 944 shares during the period. GAMMA Investing LLC grew its holdings in shares of Neogen by 4.9% in the third quarter. GAMMA Investing LLC now owns 32,078 shares of the company's stock valued at $411,000 after purchasing an additional 1,500 shares during the period. Sowell Financial Services LLC grew its holdings in shares of Neogen by 11.8% in the third quarter. Sowell Financial Services LLC now owns 15,975 shares of the company's stock valued at $204,000 after purchasing an additional 1,686 shares during the period. Canton Hathaway LLC acquired a new stake in Neogen during the third quarter worth about $26,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in Neogen by 17.5% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 16,100 shares of the company's stock worth $206,000 after purchasing an additional 2,400 shares during the last quarter. 96.73% of the stock is owned by institutional investors and hedge funds.

Neogen Stock Performance

Neogen stock opened at $11.82 on Tuesday. The company has a current ratio of 3.90, a quick ratio of 2.92 and a debt-to-equity ratio of 0.37. Neogen has a 12 month low of $5.37 and a 12 month high of $14.26. The stock's 50 day simple moving average is $12.22 and its two-hundred day simple moving average is $10.43. The firm has a market cap of $2.58 billion, a PE ratio of -47.28, a P/E/G ratio of 4.33 and a beta of 1.79.

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

About Neogen

Neogen Corporation develops and markets products and services designed to help protect the food supply and support animal health. Its food safety offerings include diagnostic tests and laboratory products used to detect pathogens, allergens, mycotoxins, genetically modified organisms, veterinary drug residues, and other contaminants in food and agricultural environments.

The company also provides sanitation and hygiene products, environmental monitoring solutions, and software and data-management tools that help food processors, retailers, laboratories, and other organizations manage food safety programs.

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