Neogen Corporation (NASDAQ:NEOG) Receives Average Rating of "Hold" from Brokerages

Key Points

• Analysts give Neogen a consensus rating of "Hold" across six firms (1 sell, 3 hold, 2 buy) with an average 1‑year price target of $10.67.
• Institutional ownership is very high at 96.73%, and several institutions materially increased or initiated positions in Q4 (e.g., UMB Bank, Hantz Financial, Northwestern Mutual).
• Shares opened at $8.36 and were trading down ~3.9%; the company posted an EPS and revenue beat for the quarter but revenue fell 2.9% year‑over‑year and net margin remains deeply negative (‑68.47%), with a market cap of about $1.82 billion.

Neogen Corporation (NASDAQ:NEOG - Get Free Report) has been given a consensus rating of "Hold" by the six ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $10.6667.

Several analysts have issued reports on the company. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Neogen in a research note on Monday, December 29th. Wall Street Zen raised shares of Neogen from a "hold" rating to a "buy" rating in a research note on Saturday, February 14th. Piper Sandler restated 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. William Blair reaffirmed a "market perform" rating on shares of Neogen in a research note on Monday, March 2nd. Finally, CJS Securities upgraded shares of Neogen from a "market perform" rating to an "outperform" rating and set a $10.00 target price on the stock in a research report on Wednesday, December 10th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. UMB Bank n.a. boosted its holdings in Neogen by 238.2% during the 4th quarter. UMB Bank n.a. now owns 6,422 shares of the company's stock valued at $45,000 after acquiring an additional 4,523 shares during the period. Hantz Financial Services Inc. increased its stake in Neogen by 816.9% in the 4th quarter. Hantz Financial Services Inc. now owns 7,592 shares of the company's stock worth $53,000 after purchasing an additional 6,764 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake 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 worth $58,000 after purchasing an additional 8,054 shares during the period. Los Angeles Capital Management LLC bought a new stake in Neogen in the fourth quarter valued at approximately $65,000. Finally, Merit Financial Group LLC purchased a new stake in shares of Neogen during the fourth quarter valued at approximately $71,000. Hedge funds and other institutional investors own 96.73% of the company's stock.

Neogen Trading Down 3.9%

Shares of NEOG stock opened at $8.36 on Monday. The company has a quick ratio of 2.80, a current ratio of 3.91 and a debt-to-equity ratio of 0.38. The business has a 50-day moving average price of $10.18 and a two-hundred day moving average price of $7.65. Neogen has a 12-month low of $3.87 and a 12-month high of $11.43. The firm has a market cap of $1.82 billion, a P/E ratio of -3.02 and a beta of 1.95.

Neogen (NASDAQ:NEOG - Get Free Report) last announced its quarterly earnings data on Thursday, January 8th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.07 by $0.03. The firm had revenue of $224.69 million for the quarter, compared to analyst estimates of $208.50 million. Neogen had a positive return on equity of 2.14% and a negative net margin of 68.47%.The company's revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.11 EPS. Equities analysts anticipate that Neogen will post 0.38 EPS for the current fiscal year.

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.

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