Neogen Corporation (NASDAQ:NEOG) Receives $10.67 Consensus PT from Brokerages

Neogen Corporation (NASDAQ:NEOG) has been assigned a consensus rating of “Hold” from the six ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $10.6667.

A number of brokerages have commented on NEOG. William Blair reaffirmed a “market perform” rating on shares of Neogen in a research note on Monday, March 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Neogen in a research note on Friday, April 10th. Finally, Wall Street Zen raised Neogen from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th.

Neogen Stock Down 1.5%

Shares of NASDAQ NEOG opened at $9.10 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.92 and a quick ratio of 2.84. The firm’s 50 day simple moving average is $9.17 and its two-hundred day simple moving average is $8.96. The stock has a market capitalization of $1.98 billion, a P/E ratio of -3.25, a PEG ratio of 4.14 and a beta of 1.80. Neogen has a one year low of $4.56 and a one year high of $11.43.

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

Institutional Inflows and Outflows

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

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.