Neogen Corporation (NASDAQ:NEOG) Given Consensus Recommendation of “Hold” by Analysts

Neogen Corporation (NASDAQ:NEOG) has been assigned an average rating of “Hold” from the six brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $10.6667.

A number of research analysts recently commented on the company. Wall Street Zen raised Neogen from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings lowered Neogen from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday.

Neogen Stock Performance

Neogen stock opened at $9.40 on Friday. Neogen has a fifty-two week low of $4.56 and a fifty-two week high of $11.43. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.84 and a current ratio of 3.92. The stock has a market cap of $2.05 billion, a P/E ratio of -3.36, a price-to-earnings-growth ratio of 4.21 and a beta of 1.80. The firm’s fifty day moving average price is $9.28 and its 200-day moving average price is $9.55.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Cibc World Markets Corp purchased a new position in shares of Neogen during the fourth quarter worth approximately $47,983,000. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Neogen by 249.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,181,768 shares of the company’s stock worth $57,191,000 after acquiring an additional 5,838,570 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Neogen by 287.4% in the 1st quarter. SG Americas Securities LLC now owns 6,266,033 shares of the company’s stock worth $58,211,000 after acquiring an additional 4,648,436 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Neogen by 4,059.4% in the 3rd quarter. Bank of Montreal Can now owns 4,592,218 shares of the company’s stock valued at $26,222,000 after purchasing an additional 4,481,812 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Neogen by 250.2% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,490,800 shares of the company’s stock valued at $24,401,000 after purchasing an additional 2,493,900 shares in the last quarter. 96.73% of the stock is currently owned by institutional investors.

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.