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

StockNews.com upgraded shares of Neogen (NASDAQ:NEOG) to a sell rating in a report issued on Monday morning.

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

Neogen Trading Down 4.9 %

Shares of NEOG opened at $14.94 on Monday. Neogen has a twelve month low of $11.46 and a twelve month high of $20.89. The stock has a market cap of $3.24 billion, a PE ratio of 1,498.00 and a beta of 1.21. The company has a quick ratio of 2.59, a current ratio of 3.82 and a debt-to-equity ratio of 0.28. The business’s 50-day moving average price is $16.56 and its 200-day moving average price is $15.22.

Neogen (NASDAQ:NEOG) last issued 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 business had revenue of $236.80 million for the quarter, compared to the consensus estimate of $225.83 million. During the same quarter last year, the business posted $0.14 EPS. The business’s revenue was down 2.1% compared to the same quarter last year. On average, equities analysts forecast that Neogen will post 0.54 EPS for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Inspire Investing LLC lifted its stake in shares of Neogen by 2.7% during the 2nd quarter. Inspire Investing LLC now owns 26,074 shares of the company’s stock valued at $408,000 after buying an additional 685 shares in the last quarter. Northwest Investment Counselors LLC raised its stake in Neogen by 1.1% during the first quarter. Northwest Investment Counselors LLC now owns 71,621 shares of the company’s stock valued at $1,130,000 after purchasing an additional 809 shares in the last quarter. Bessemer Group Inc. grew its position in Neogen by 1.2% in the first quarter. Bessemer Group Inc. now owns 73,920 shares of the company’s stock worth $1,166,000 after acquiring an additional 851 shares in the last quarter. Retirement Systems of Alabama raised its holdings in Neogen by 0.4% during the 1st quarter. Retirement Systems of Alabama now owns 247,423 shares of the company’s stock valued at $3,904,000 after buying an additional 889 shares during the period. Finally, Arizona State Retirement System boosted its position in shares of Neogen by 1.9% during the second quarter. Arizona State Retirement System now owns 57,609 shares of the company’s stock valued at $900,000 after buying an additional 1,079 shares during the period. Institutional investors own 96.73% of the company’s stock.

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.