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

Key Points

• Neogen received an average analyst rating of “Hold” from six brokerages, with one sell, three hold, and two buy ratings; the average 12-month price target is $10.67.
• Recent analyst actions were mixed, as Wall Street Zen upgraded the stock from hold to buy while Weiss Ratings cut its view from sell (d-) to sell (e+).
• The stock last traded at $9.40, below its 52-week high of $11.43 but above its low of $4.56, while hedge funds and other institutional investors hold 96.73% of the shares.

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

A number of brokerages recently issued reports on NEOG. Wall Street Zen raised Neogen from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Weiss Ratings lowered Neogen from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday.

Neogen Price Performance

Shares of NASDAQ NEOG opened at $9.40 on Friday. The stock has a market cap of $2.05 billion, a PE ratio of -3.36, a price-to-earnings-growth ratio of 4.21 and a beta of 1.80. Neogen has a fifty-two week low of $4.56 and a fifty-two week high of $11.43. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.84 and a current ratio of 3.92. The stock has a fifty day moving average of $9.28 and a 200-day moving average of $9.55.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NEOG. JPMorgan Chase & Co. raised its holdings in shares of Neogen by 19.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,680,212 shares of the company's stock valued at $9,594,000 after acquiring an additional 278,886 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Neogen by 929.6% during the fourth quarter. SG Americas Securities LLC now owns 1,617,597 shares of the company's stock worth $11,307,000 after purchasing an additional 1,460,488 shares in the last quarter. Roubaix Capital LLC purchased a new position in shares of Neogen during the first quarter worth about $4,630,000. Bessemer Group Inc. increased its position in shares of Neogen by 160,972.5% in the first quarter. Bessemer Group Inc. now owns 1,565,625 shares of the company's stock worth $14,545,000 after purchasing an additional 1,564,653 shares during the last quarter. Finally, Round Rock Advisors LLC increased its position in shares of Neogen by 520.8% in the fourth quarter. Round Rock Advisors LLC now owns 156,967 shares of the company's stock worth $1,097,000 after purchasing an additional 131,684 shares during the last quarter. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source