Neogen Corporation (NASDAQ:NEOG) Receives $8.83 Average PT from Analysts

Shares of Neogen Corporation (NASDAQ:NEOG) have been given an average rating of “Hold” by the six ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $8.8333.

A number of research analysts have commented on NEOG shares. CJS Securities started coverage on Neogen in a report on Monday, September 29th. They set a “market perform” rating and a $10.00 target price on the stock. Zacks Research raised Neogen from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 20th. Wall Street Zen raised Neogen from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. William Blair downgraded Neogen from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 29th. Finally, Piper Sandler set a $6.50 price target on Neogen and gave the stock a “neutral” rating in a research report on Thursday, October 16th.

Neogen Trading Down 0.8%

NASDAQ:NEOG opened at $6.16 on Friday. The company has a quick ratio of 2.26, a current ratio of 3.58 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average is $5.77 and its two-hundred day moving average is $5.49. Neogen has a 52 week low of $3.87 and a 52 week high of $16.79. The company has a market cap of $1.34 billion, a PE ratio of -1.28 and a beta of 1.90.

Institutional Trading of Neogen

A number of institutional investors and hedge funds have recently made changes to their positions in NEOG. Gates Capital Management Inc. acquired a new stake in shares of Neogen during the 1st quarter worth approximately $79,391,000. Norges Bank acquired a new stake in shares of Neogen during the 2nd quarter worth approximately $43,387,000. Clarkston Capital Partners LLC raised its position in shares of Neogen by 123.2% during the 2nd quarter. Clarkston Capital Partners LLC now owns 14,005,725 shares of the company’s stock worth $66,947,000 after purchasing an additional 7,729,650 shares during the period. Millennium Management LLC acquired a new stake in shares of Neogen during the 1st quarter worth approximately $20,761,000. Finally, Ameriprise Financial Inc. raised its position in shares of Neogen by 169.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,079,123 shares of the company’s stock worth $14,718,000 after purchasing an additional 1,936,569 shares during the period. 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.