Neogen's (NEOG) Sell (E+) Rating Reiterated at Weiss Ratings

Neogen (NASDAQ:NEOG - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by equities researchers at Weiss Ratings in a research report issued on Saturday,Weiss Ratings reports.

A number of other brokerages also recently issued reports on NEOG. Guggenheim decreased their price target on Neogen from $13.00 to $10.00 and set a "buy" rating for the company in a report on Monday, June 30th. Wall Street Zen upgraded Neogen from a "sell" rating to a "hold" rating in a report on Saturday, October 11th. William Blair lowered Neogen from an "outperform" rating to a "market perform" rating in a research note on Tuesday, July 29th. CJS Securities started coverage on Neogen in a research note on Monday, September 29th. They set a "market perform" rating and a $10.00 target price on the stock. Finally, Piper Sandler set a $6.50 target price on Neogen and gave the stock a "neutral" rating in a research report on Thursday, October 16th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $8.83.

Neogen Price Performance

Shares of NASDAQ NEOG opened at $6.19 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.26 and a current ratio of 3.58. The company has a market cap of $1.35 billion, a PE ratio of -1.29 and a beta of 1.90. The business has a 50-day simple moving average of $5.74 and a two-hundred day simple moving average of $5.48. Neogen has a fifty-two week low of $3.87 and a fifty-two week high of $16.79.

Institutional Investors Weigh In On Neogen

Several institutional investors and hedge funds have recently modified their holdings of the stock. Gates Capital Management Inc. acquired a new position in shares of Neogen in the first quarter worth about $79,391,000. Norges Bank bought a new position in Neogen in the 2nd quarter worth approximately $43,387,000. Clarkston Capital Partners LLC boosted its stake in Neogen by 123.2% during the 2nd quarter. Clarkston Capital Partners LLC now owns 14,005,725 shares of the company's stock valued at $66,947,000 after purchasing an additional 7,729,650 shares in the last quarter. Millennium Management LLC bought a new position in Neogen during the 1st quarter valued at $20,761,000. Finally, Ameriprise Financial Inc. lifted its position in shares of Neogen by 169.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,079,123 shares of the company's stock valued at $14,718,000 after acquiring an additional 1,936,569 shares during the last quarter. Hedge funds and other institutional investors own 96.73% of the company's stock.

Neogen Company Profile

Neogen Corporation, together with its subsidiaries, engages in the development, manufacture, and marketing of various products and services dedicated to food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment offers diagnostic test kits and related products to detect dangerous and unintended substances in food and animal feed, including foodborne pathogens, spoilage organisms, natural toxins, food allergens, genetic modifications, ruminant by-products, meat speciation, drug residues, pesticide residues, and general sanitation concerns; and AccuPoint Advanced rapid sanitation test to detect the presence of adenosine triphosphate, a chemical found in living cells, as well as provides genomics-based diagnostic technology and software systems that help testers to objectively analyze and store their results and perform analysis on the results from multiple locations over extended periods.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.