Neogen (NASDAQ:NEOG) Shares Down 5.5% - Time to Sell?

Neogen Co. (NASDAQ:NEOG - Get Free Report)'s stock price was down 5.5% on Tuesday . The stock traded as low as $11.92 and last traded at $11.95. 147,322 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 2,730,861 shares. The stock had previously closed at $12.64.

Analyst Upgrades and Downgrades

NEOG has been the subject of a number of recent analyst reports. StockNews.com raised Neogen to a "sell" rating in a report on Monday, September 30th. Guggenheim assumed coverage on shares of Neogen in a report on Thursday, December 19th. They issued a "buy" rating and a $15.00 price objective for the company.

Neogen Stock Down 5.1 %

The stock has a market capitalization of $2.60 billion, a P/E ratio of -109.09 and a beta of 1.23. The stock's fifty day moving average is $13.47 and its two-hundred day moving average is $15.04. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.41 and a quick ratio of 2.79.

Neogen (NASDAQ:NEOG - Get Free Report) last issued its quarterly earnings results on Friday, January 10th. The company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of ($0.01) by $0.12. Neogen had a positive return on equity of 2.80% and a negative net margin of 2.58%. The firm had revenue of $231.30 million for the quarter, compared to analysts' expectations of $227.16 million. During the same quarter last year, the business posted $0.11 EPS. Neogen's revenue was up .7% on a year-over-year basis. As a group, research analysts predict that Neogen Co. will post 0.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEOG. Inspire Investing LLC increased its stake in shares of Neogen by 2.7% in the second quarter. Inspire Investing LLC now owns 26,074 shares of the company's stock worth $408,000 after acquiring an additional 685 shares during the last quarter. Stephens Inc. AR lifted its holdings in shares of Neogen by 2.6% during the 3rd quarter. Stephens Inc. AR now owns 35,930 shares of the company's stock valued at $604,000 after buying an additional 909 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Neogen by 142.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company's stock valued at $33,000 after buying an additional 1,165 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Neogen by 3.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 36,630 shares of the company's stock valued at $573,000 after buying an additional 1,190 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in Neogen by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 22,810 shares of the company's stock worth $383,000 after buying an additional 1,550 shares during the last quarter. 96.73% of the stock is owned by hedge funds and other institutional investors.

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.