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

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

Separately, Piper Sandler upped their price objective on shares of Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th.

Neogen Stock Performance

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

Neogen (NASDAQ:NEOG) last released its quarterly earnings data 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 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 previous year, the business earned $0.14 earnings per share. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, equities analysts predict that Neogen will post 0.54 EPS for the current year.

Insider Activity at Neogen

In related news, Director James P. Tobin bought 3,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was bought at an average price of $16.86 per share, for a total transaction of $50,580.00. Following the completion of the acquisition, the director now directly owns 23,392 shares in the company, valued at $394,389.12. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 modified their holdings of NEOG. Vanguard Group Inc. lifted its position in Neogen by 0.9% during the first quarter. Vanguard Group Inc. now owns 19,715,974 shares of the company’s stock valued at $311,118,000 after acquiring an additional 169,237 shares during the last quarter. Select Equity Group L.P. boosted its position in shares of Neogen by 23.1% in the 2nd quarter. Select Equity Group L.P. now owns 15,530,439 shares of the company’s stock worth $242,741,000 after purchasing an additional 2,914,893 shares in the last quarter. William Blair Investment Management LLC grew its stake in Neogen by 64.7% during the 2nd quarter. William Blair Investment Management LLC now owns 12,013,072 shares of the company’s stock worth $187,764,000 after buying an additional 4,717,696 shares during the last quarter. Baillie Gifford & Co. increased its position in Neogen by 42.3% during the 1st quarter. Baillie Gifford & Co. now owns 11,789,521 shares of the company’s stock valued at $186,039,000 after buying an additional 3,502,807 shares in the last quarter. Finally, Bamco Inc. NY raised its stake in Neogen by 10.3% in the first quarter. Bamco Inc. NY now owns 7,304,967 shares of the company’s stock valued at $115,272,000 after buying an additional 680,668 shares during the last quarter. 96.73% of the stock is currently 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.