Neogen (NASDAQ:NEOG) Upgraded to Sell at StockNews.com

StockNews.com upgraded shares of Neogen (NASDAQ:NEOG) to a sell rating in a report published on Friday.

Separately, Piper Sandler boosted 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 Stock Up 1.3 %

Shares of Neogen stock opened at $16.34 on Friday. The stock has a 50-day moving average price of $16.50 and a 200 day moving average price of $15.17. The company has a current ratio of 3.82, a quick ratio of 2.59 and a debt-to-equity ratio of 0.28. The company has a market cap of $3.54 billion, a P/E ratio of 1,634.00 and a beta of 1.21. Neogen has a 1 year low of $11.46 and a 1 year high of $20.89.

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

Insider Buying and Selling

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

Institutional Trading of Neogen

A number of institutional investors and hedge funds have recently modified their holdings of NEOG. Covestor Ltd grew its stake in Neogen by 173.2% in the 1st quarter. Covestor Ltd now owns 1,970 shares of the company’s stock valued at $31,000 after buying an additional 1,249 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Neogen in the second quarter valued at about $46,000. Headlands Technologies LLC increased its stake in shares of Neogen by 264.1% in the second quarter. Headlands Technologies LLC now owns 3,397 shares of the company’s stock worth $53,000 after purchasing an additional 2,464 shares during the period. Family Firm Inc. acquired a new position in shares of Neogen during the 2nd quarter worth about $90,000. Finally, Quantum Private Wealth LLC bought a new stake in Neogen during the 2nd quarter valued at approximately $156,000. 96.73% of the stock is currently owned by institutional investors and hedge funds.

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.