Neogen (NASDAQ:NEOG) Upgraded at StockNews.com

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

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

Neogen Trading Up 1.2 %

Shares of NEOG stock traded up $0.20 during trading hours on Monday, hitting $16.81. 1,223,680 shares of the company’s stock traded hands, compared to its average volume of 1,973,026. The stock has a market cap of $3.64 billion, a PE ratio of 1,681.00 and a beta of 1.21. The stock’s 50 day simple moving average is $16.61 and its 200 day simple moving average is $15.21. The company has a quick ratio of 2.59, a current ratio of 3.82 and a debt-to-equity ratio of 0.28. Neogen has a 12 month low of $11.46 and a 12 month high of $20.89.

Neogen (NASDAQ:NEOG) last announced its 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). The company had revenue of $236.80 million for the quarter, compared to analyst estimates of $225.83 million. Neogen had a positive return on equity of 3.09% and a negative net margin of 1.02%. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.14 earnings per share. On average, sell-side analysts anticipate that Neogen will post 0.54 EPS for the current year.

Insider Activity at Neogen

In other Neogen news, Director James P. Tobin bought 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were bought at an average price of $16.86 per share, for a total transaction of $50,580.00. Following the transaction, the director now directly owns 23,392 shares in the company, valued at $394,389.12. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.71% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Covestor Ltd raised its holdings in shares of Neogen by 173.2% in the 1st quarter. Covestor Ltd now owns 1,970 shares of the company’s stock worth $31,000 after acquiring an additional 1,249 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Neogen in the second quarter valued at approximately $46,000. Headlands Technologies LLC boosted its position in shares of Neogen by 264.1% during the second quarter. Headlands Technologies LLC now owns 3,397 shares of the company’s stock valued at $53,000 after buying an additional 2,464 shares during the last quarter. Family Firm Inc. purchased a new position in shares of Neogen during the second quarter valued at approximately $90,000. Finally, Quantum Private Wealth LLC bought a new stake in Neogen during the second quarter worth $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.