Neogen (NASDAQ:NEOG) Sets New 12-Month Low – What’s Next?

Neogen Co. (NASDAQ:NEOG)’s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as $11.46 and last traded at $11.47, with a volume of 2751990 shares trading hands. The stock had previously closed at $12.00.

Analyst Ratings Changes

A number of research firms have recently commented on NEOG. Guggenheim started coverage on Neogen in a report on Thursday, December 19th. They issued a “buy” rating and a $15.00 price objective on the stock. StockNews.com upgraded shares of Neogen to a “sell” rating in a report on Monday, September 30th.

Neogen Stock Performance

The company has a market capitalization of $2.46 billion, a PE ratio of -103.27 and a beta of 1.23. The company has a quick ratio of 2.79, a current ratio of 4.41 and a debt-to-equity ratio of 0.28. The stock’s fifty day simple moving average is $13.41 and its 200-day simple moving average is $15.02.

Neogen (NASDAQ:NEOG) last announced its earnings results on Friday, January 10th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.12. The firm had revenue of $231.30 million during the quarter, compared to the consensus estimate of $227.16 million. Neogen had a negative net margin of 2.58% and a positive return on equity of 2.80%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.11 EPS. On average, research analysts predict that Neogen Co. will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Neogen

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Commonwealth Equity Services LLC grew its stake in Neogen by 3.4% in the second quarter. Commonwealth Equity Services LLC now owns 36,630 shares of the company’s stock worth $573,000 after purchasing an additional 1,190 shares in the last quarter. Headlands Technologies LLC grew its position in Neogen by 264.1% in the second quarter. Headlands Technologies LLC now owns 3,397 shares of the company’s stock worth $53,000 after buying an additional 2,464 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Neogen by 39.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 103,611 shares of the company’s stock worth $1,619,000 after buying an additional 29,489 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Neogen by 27.0% in the second quarter. Envestnet Asset Management Inc. now owns 418,839 shares of the company’s stock valued at $6,546,000 after purchasing an additional 89,034 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Neogen by 148.3% during the second quarter. Dimensional Fund Advisors LP now owns 4,109,180 shares of the company’s stock valued at $64,229,000 after purchasing an additional 2,454,566 shares in the last quarter. Institutional investors and hedge funds own 96.73% of the company’s stock.

About Neogen

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.