Neogen (NASDAQ:NEOG) Stock Price Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Neogen shares moved above their 200-day moving average on Monday, trading as high as $9.75 and last changing hands at $9.65. The stock’s 200-day average is $9.39.
• Analyst sentiment is mixed: Wall Street Zen upgraded NEOG to buy, while Weiss Ratings reiterated a sell rating. MarketBeat shows an overall rating of Hold with an average price target of $10.67.
• Institutional investors remain heavily involved, with 96.73% of shares owned by hedge funds and other institutions. Recent filings showed large stake increases from firms including Dimensional Fund Advisors and T. Rowe Price.

Neogen Corporation (NASDAQ:NEOG - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $9.39 and traded as high as $9.75. Neogen shares last traded at $9.65, with a volume of 1,455,338 shares changing hands.

Analyst Upgrades and Downgrades

NEOG has been the topic of several research reports. Wall Street Zen raised Neogen from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Weiss Ratings reissued a "sell (d-)" rating on shares of Neogen in a research note on Wednesday, July 8th. 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 company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $10.67.

Neogen Price Performance

The company has a market cap of $2.10 billion, a P/E ratio of -3.45, a PEG ratio of 4.31 and a beta of 1.80. The firm's 50-day moving average is $9.08 and its two-hundred day moving average is $9.39. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.92 and a quick ratio of 2.84.

Institutional Trading of Neogen

Several hedge funds have recently made changes to their positions in NEOG. Dimensional Fund Advisors LP grew its position in Neogen by 23.4% in the first quarter. Dimensional Fund Advisors LP now owns 9,132,021 shares of the company's stock worth $84,831,000 after acquiring an additional 1,733,767 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Neogen by 249.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,181,768 shares of the company's stock worth $57,191,000 after acquiring an additional 5,838,570 shares during the last quarter. Mackenzie Financial Corp raised its position in Neogen by 1.0% during the fourth quarter. Mackenzie Financial Corp now owns 7,898,439 shares of the company's stock valued at $55,574,000 after purchasing an additional 79,010 shares during the period. Cibc World Markets Corp purchased a new stake in Neogen during the fourth quarter valued at approximately $47,983,000. Finally, Hudson Bay Capital Management LP lifted its stake in shares of Neogen by 30.0% in the 4th quarter. Hudson Bay Capital Management LP now owns 6,500,000 shares of the company's stock valued at $45,435,000 after purchasing an additional 1,500,000 shares during the last quarter. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

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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