Neogen Corporation (NASDAQ:NEOG) Stock Has Consensus Target Price of $12.67 According to Analysts

Shares of Neogen Corporation (NASDAQ:NEOG) have been given an average rating of “Hold” by the five research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $12.67.

NEOG has been the topic of a number of research analyst reports. Weiss Ratings upgraded Neogen from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 7th. Piper Sandler raised Neogen from a “neutral” rating to an “overweight” rating and upped their target price for the company from $13.00 to $14.00 in a research report on Wednesday, August 26th. Wall Street Zen cut Neogen from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Finally, Guggenheim restated a “buy” rating and set a $14.00 price target (up from $12.00) on shares of Neogen in a research note on Wednesday, September 30th.

Hedge Funds Weigh In On Neogen

A number of hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its position in Neogen by 4.9% during the 3rd quarter. GAMMA Investing LLC now owns 32,078 shares of the company’s stock worth $411,000 after purchasing an additional 1,500 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Neogen by 76.1% in the third quarter. Farther Finance Advisors LLC now owns 2,184 shares of the company’s stock valued at $28,000 after purchasing an additional 944 shares during the period. Plan A Wealth LLC purchased a new stake in shares of Neogen in the third quarter valued at about $133,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Neogen in the second quarter valued at about $94,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of Neogen in the second quarter valued at about $73,000. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

Neogen Trading Down 2.2%

NASDAQ NEOG opened at $11.73 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.90 and a quick ratio of 2.92. The firm’s fifty day moving average price is $12.12 and its 200 day moving average price is $10.35. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of -46.92, a price-to-earnings-growth ratio of 4.29 and a beta of 1.79. Neogen has a 12 month low of $5.37 and a 12 month high of $14.26.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings results on Tuesday, October 6th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.05 by $0.03. Neogen had a negative net margin of 6.35% and a positive return on equity of 3.29%. The firm had revenue of $222.80 million for the quarter, compared to analyst estimates of $208.18 million. During the same period last year, the business earned $0.04 EPS. Neogen’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, sell-side analysts expect that Neogen will post 0.28 earnings per share for the current fiscal year.

About Neogen

Neogen Corporation is a global provider of food safety and animal safety products and services. The company develops diagnostic tests, laboratory products, and related solutions that help customers detect foodborne pathogens, allergens, toxins, residues, and other contaminants throughout the food production process.

Its food safety portfolio includes test kits, culture media, molecular testing systems, sanitation monitoring products, and laboratory supplies used by food manufacturers, processors, retailers, and regulatory organizations.