Fintel reports that on October 16, 2023, Piper Sandler maintained coverage of Neogen (NASDAQ:NEOG) with a Neutral recommendation.
Analyst Price Forecast Suggests 72.32% Upside
As of October 5, 2023, the average one-year price target for Neogen is 26.52. The forecasts range from a low of 24.24 to a high of $29.40. The average price target represents an increase of 72.32% from its latest reported closing price of 15.39.
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The projected annual revenue for Neogen is 1,019MM, an increase of 10.87%. The projected annual non-GAAP EPS is -0.07.
What is the Fund Sentiment?
There are 697 funds or institutions reporting positions in Neogen. This is a decrease of 4 owner(s) or 0.57% in the last quarter. Average portfolio weight of all funds dedicated to NEOG is 0.22%, an increase of 13.44%. Total shares owned by institutions increased in the last three months by 4.65% to 248,359K shares. 
The put/call ratio of NEOG is 0.37, indicating a bullish outlook.
What are Other Shareholders Doing?
Wasatch Advisors holds 11,864K shares representing 5.48% ownership of the company. In it's prior filing, the firm reported owning 14,142K shares, representing a decrease of 19.20%. The firm decreased its portfolio allocation in NEOG by 4.19% over the last quarter.
Select Equity Group holds 9,722K shares representing 4.49% ownership of the company. In it's prior filing, the firm reported owning 7,983K shares, representing an increase of 17.88%. The firm increased its portfolio allocation in NEOG by 49.59% over the last quarter.
Conestoga Capital Advisors holds 6,933K shares representing 3.21% ownership of the company. In it's prior filing, the firm reported owning 5,699K shares, representing an increase of 17.80%. The firm increased its portfolio allocation in NEOG by 35.43% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 6,559K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 6,668K shares, representing a decrease of 1.67%. The firm increased its portfolio allocation in NEOG by 10.65% over the last quarter.
Bamco holds 6,087K shares representing 2.81% ownership of the company. In it's prior filing, the firm reported owning 5,013K shares, representing an increase of 17.65%. The firm increased its portfolio allocation in NEOG by 31.55% over the last quarter.
Neogen Background Information
(This description is provided by the company.)
NEOGEN Corporation develops and markets products dedicated to food and animal safety. The company's Food Safety Division markets dehydrated culture media, and diagnostic test kits to detect foodborne bacteria, natural toxins, food allergens, drug residues, plant diseases and sanitation concerns. NEOGEN's Animal Safety Division is a leader in the development of animal genomics along with the manufacturing and distribution of a variety of animal healthcare products, including diagnostics, pharmaceuticals, veterinary instruments, wound care and disinfectants.
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