Neogen Corporation (NASDAQ:NEOG) Given Average Recommendation of “Hold” by Brokerages

Shares of Neogen Corporation (NASDAQ:NEOG) have been given an average recommendation of “Hold” by the six research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $10.6667.

NEOG has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Neogen in a report on Friday, April 10th. Wall Street Zen upgraded shares of Neogen from a “hold” rating to a “buy” rating in a report on Saturday, May 9th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Huntington National Bank lifted its stake in Neogen by 8.4% in the fourth quarter. Huntington National Bank now owns 13,552 shares of the company’s stock valued at $95,000 after buying an additional 1,045 shares during the last quarter. ProShare Advisors LLC raised its position in Neogen by 3.2% in the 4th quarter. ProShare Advisors LLC now owns 42,509 shares of the company’s stock valued at $297,000 after purchasing an additional 1,331 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Neogen by 1.2% during the 4th quarter. State of Alaska Department of Revenue now owns 110,645 shares of the company’s stock worth $773,000 after purchasing an additional 1,353 shares during the period. Evergreen Capital Management LLC grew its position in Neogen by 12.3% during the 4th quarter. Evergreen Capital Management LLC now owns 13,753 shares of the company’s stock worth $96,000 after purchasing an additional 1,504 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its position in Neogen by 10.1% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 17,837 shares of the company’s stock worth $125,000 after purchasing an additional 1,638 shares during the last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Neogen Price Performance

Shares of NEOG opened at $9.39 on Wednesday. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of -3.35, a PEG ratio of 4.26 and a beta of 1.80. The firm’s fifty day simple moving average is $9.06 and its 200-day simple moving average is $9.32. Neogen has a twelve month low of $4.56 and a twelve month high of $11.43. The company has a current ratio of 3.92, a quick ratio of 2.84 and a debt-to-equity ratio of 0.38.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings results on Thursday, April 9th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. Neogen had a positive return on equity of 2.35% and a negative net margin of 69.93%.The company had revenue of $211.20 million for the quarter, compared to analysts’ expectations of $204.62 million. The firm’s quarterly revenue was down 4.4% on a year-over-year basis. Equities analysts forecast that Neogen will post 0.23 EPS for the current fiscal year.

About Neogen

Neogen Corporation is a global provider of food and animal safety products, offering a broad portfolio of diagnostic and testing solutions. Headquartered in Lansing, Michigan, the company develops and manufactures tests designed to detect foodborne pathogens, allergens and toxins in food, beverage and environmental samples. Since its founding in 1982, Neogen has focused on delivering rapid, accurate and user‐friendly assays to food processors, grain handlers and quality laboratories around the world.

In the food safety arena, Neogen’s product lineup includes immunoassay kits, molecular diagnostics and enrichment media for pathogens such as Salmonella, Listeria and E.