StockNews.com Upgrades Neogen (NASDAQ:NEOG) to Sell

by · The Markets Daily

StockNews.com upgraded shares of Neogen (NASDAQ:NEOG – Free Report) to a sell rating in a research report report published on Monday morning.

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

Check Out Our Latest Report on Neogen

Neogen Stock Performance

NEOG stock opened at $15.71 on Monday. Neogen has a 1-year low of $11.46 and a 1-year high of $20.89. The business has a 50-day moving average price of $16.56 and a 200 day moving average price of $15.22. The company has a market capitalization of $3.40 billion, a P/E ratio of 1,571.00 and a beta of 1.21. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.82 and a quick ratio of 2.59.

Neogen (NASDAQ:NEOG – Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.10 EPS for the quarter, missing the consensus estimate 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 business 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 EPS. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, equities research analysts forecast that Neogen will post 0.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director James P. Tobin acquired 3,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average price of $16.86 per share, with a total value of $50,580.00. Following the transaction, the director now directly owns 23,392 shares in the company, valued at $394,389.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.71% of the stock is currently owned by corporate insiders.

Institutional Trading of Neogen

A number of institutional investors have recently made changes to their positions in NEOG. Mitsubishi UFJ Trust & Banking Corp raised its stake in Neogen by 67.5% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 616,190 shares of the company’s stock valued at $9,723,000 after buying an additional 248,340 shares during the last quarter. Trigran Investments Inc. purchased a new position in shares of Neogen in the 4th quarter valued at approximately $12,048,000. SG Americas Securities LLC boosted its stake in Neogen by 277.1% in the 1st quarter. SG Americas Securities LLC now owns 45,558 shares of the company’s stock worth $719,000 after purchasing an additional 33,478 shares in the last quarter. BNP Paribas Financial Markets grew its position in Neogen by 73.4% during the 1st quarter. BNP Paribas Financial Markets now owns 115,830 shares of the company’s stock worth $1,828,000 after purchasing an additional 49,041 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Neogen during the 2nd quarter valued at approximately $5,714,000. Institutional investors and hedge funds own 96.73% of the company’s stock.

About Neogen

(Get Free Report)

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.

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