Neogen (NASDAQ:NEOG) Stock Rating Upgraded by StockNews.com

Neogen (NASDAQ:NEOG) was upgraded by investment analysts at StockNews.com to a “sell” rating in a report issued on Monday.

Separately, Piper Sandler increased their price target on Neogen from $17.00 to $17.50 and gave the company a “neutral” rating in a research note on Tuesday, August 6th.

Neogen Trading Down 7.2 %

Neogen stock opened at $15.60 on Monday. Neogen has a 1 year low of $11.46 and a 1 year high of $20.89. The firm’s 50 day moving average price is $16.59 and its 200-day moving average price is $15.22. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.82 and a quick ratio of 2.59. The stock has a market cap of $3.38 billion, a P/E ratio of 1,560.00 and a beta of 1.21.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). Neogen had a negative net margin of 1.02% and a positive return on equity of 3.09%. The company had revenue of $236.80 million during the quarter, compared to the consensus estimate of $225.83 million. During the same quarter in the prior year, the firm posted $0.14 earnings per share. The business’s revenue was down 2.1% on a year-over-year basis. On average, equities analysts predict that Neogen will post 0.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Neogen news, Director James P. Tobin acquired 3,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was acquired at an average cost of $16.86 per share, with a total value of $50,580.00. Following the purchase, the director now directly owns 23,392 shares of the company’s stock, valued at approximately $394,389.12. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.71% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Neogen

Institutional investors have recently modified their holdings of the stock. Covestor Ltd lifted its position in Neogen by 173.2% in the first quarter. Covestor Ltd now owns 1,970 shares of the company’s stock worth $31,000 after buying an additional 1,249 shares during the last quarter. Innealta Capital LLC bought a new stake in shares of Neogen in the 2nd quarter worth about $46,000. Headlands Technologies LLC lifted its holdings in shares of Neogen by 264.1% in the 2nd quarter. Headlands Technologies LLC now owns 3,397 shares of the company’s stock worth $53,000 after acquiring an additional 2,464 shares during the last quarter. Family Firm Inc. purchased a new position in shares of Neogen during the 2nd quarter worth about $90,000. Finally, Quantum Private Wealth LLC bought a new position in Neogen during the 2nd quarter valued at about $156,000. 96.73% of the stock is owned by institutional investors.

About Neogen

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.