Neogen (NASDAQ:NEOG) Shares Gap Up - What's Next?

Key Points

• Neogen shares jumped 13.5%, opening at $10.50 versus the prior close of $9.40 and later trading near $10.71 on volume of 323,123 shares.
• Analyst sentiment remains mixed: two analysts rate the stock Buy, three Hold and one Sell, producing a consensus “Hold” rating and a $10.67 price target.
• Institutional ownership stands at 96.73%, with several investors recently increasing their positions or initiating new stakes in the food- and animal-safety products company.

Neogen Corporation (NASDAQ:NEOG - Get Free Report)'s share price gapped up prior to trading on Thursday . The stock had previously closed at $9.40, but opened at $10.50. Neogen shares last traded at $10.7140, with a volume of 323,123 shares traded.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wall Street Zen upgraded Neogen from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Weiss Ratings downgraded Neogen from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, July 24th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Neogen presently has a consensus rating of "Hold" and a consensus price target of $10.67.

Neogen Stock Up 13.5%

The stock's fifty day moving average is $9.32 and its two-hundred day moving average is $9.59. The company has a current ratio of 3.92, a quick ratio of 2.84 and a debt-to-equity ratio of 0.38. The firm has a market cap of $2.32 billion, a P/E ratio of -3.82, a price-to-earnings-growth ratio of 4.11 and a beta of 1.80.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NEOG. UMB Bank n.a. raised its position in shares of Neogen by 238.2% in the fourth quarter. UMB Bank n.a. now owns 6,422 shares of the company's stock worth $45,000 after buying an additional 4,523 shares in the last quarter. 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 acquiring an additional 6,764 shares during the last quarter. Cresset Asset Management LLC bought a new position in Neogen in the 2nd quarter worth about $53,000. Evergreen Capital Management LLC purchased a new stake in shares of Neogen in the 2nd quarter valued at about $56,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Neogen by 3,158.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 8,309 shares of the company's stock valued at $58,000 after acquiring an additional 8,054 shares in the last quarter. Institutional investors own 96.73% of the company's stock.

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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