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

Key Points

• Analysts have an average recommendation of Hold on Neogen (6 analysts: 1 sell, 3 hold, 2 buy) with a 12‑month average target price of $10.67.
• Institutional investors own about 96.73% of the stock, with recent large stakes added by ING, CIBC and T. Rowe Price (T. Rowe increased its position by 249% to 8.18M shares).
• Neogen beat quarterly EPS estimates ($0.09 vs. $0.04) but revenue declined 4.4% year‑over‑year and the company reported a deeply negative net margin (~69.9%), trading at a $2.01B market cap and a negative P/E of -3.30.

Shares of Neogen Corporation (NASDAQ:NEOG - Get Free Report) have been assigned an average recommendation of "Hold" from the six analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $10.6667.

A number of equities analysts recently issued reports on the company. Wall Street Zen lowered Neogen from a "buy" rating to a "hold" rating in a report on Saturday, April 11th. Weiss Ratings reissued a "sell (d-)" rating on shares of Neogen in a report on Friday, April 10th. William Blair reissued a "market perform" rating on shares of Neogen in a report on Monday, March 2nd. Guggenheim reissued a "buy" rating and issued a $12.00 price objective (up from $8.00) on shares of Neogen in a report on Friday, January 9th. Finally, Piper Sandler reissued a "neutral" rating and issued a $10.00 price objective (up from $6.50) on shares of Neogen in a report on Monday, January 12th.

Institutional Investors 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 Neogen in the third quarter worth approximately $80,288,000. Cibc World Markets Corp acquired a new stake in shares of Neogen during the 4th quarter valued at $47,983,000. T. Rowe Price Investment Management Inc. lifted its position in shares of Neogen by 249.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,181,768 shares of the company's stock valued at $57,191,000 after acquiring an additional 5,838,570 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new stake in shares of Neogen during the 3rd quarter valued at $28,969,000. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of Neogen during the 3rd quarter valued at $28,550,000. 96.73% of the stock is currently owned by institutional investors and hedge funds.

Neogen Stock Performance

Shares of NEOG stock opened at $9.24 on Friday. Neogen has a 12-month low of $4.32 and a 12-month high of $11.43. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of -3.30, a price-to-earnings-growth ratio of 4.38 and a beta of 1.97. The business has a 50 day simple moving average of $9.99 and a 200 day simple moving average of $8.12. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.92 and a quick ratio of 2.84.

Neogen (NASDAQ:NEOG - Get Free Report) last issued its quarterly earnings data on Thursday, April 9th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.05. Neogen had a positive return on equity of 2.35% and a negative net margin of 69.93%.The business had revenue of $211.20 million during the quarter, compared to analyst estimates of $204.62 million. Neogen's revenue for the quarter was down 4.4% compared to the same quarter last year. On average, equities research analysts anticipate that Neogen will post 0.38 EPS for the current year.

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.

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