Zacks Investment Research upgraded shares of Neogen Co. (NASDAQ:NEOG) from a sell rating to a hold rating in a research note published on Sunday morning, Market Beat Ratings reports.

According to Zacks, “Neogen Corporation develops, manufactures, and markets a diverse line of products dedicated to food and animal safety. The company’s food safety segment consists primarily of diagnostic test kits and related products, including dehydrated culture media, marketed to food producers and processors to aid in the detection of foodborne bacteria, natural toxins, food allergens, drug residues, pesticide residues, plant disease infections and levels of general sanitation. “

Neogen (NASDAQ:NEOG) opened at 52.18 on Friday. The stock’s 50 day moving average price is $54.91 and its 200-day moving average price is $53.71. Neogen has a 52-week low of $41.51 and a 52-week high of $62.70. The stock has a market capitalization of $1.95 billion and a PE ratio of 55.51.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings data on Monday, December 21st. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by $0.02. The company earned $79.60 million during the quarter. During the same quarter in the previous year, the company posted $0.21 earnings per share. The firm’s revenue for the quarter was up 16.2% on a year-over-year basis. On average, equities analysts expect that Neogen will post $1.03 EPS for the current fiscal year.

Other equities research analysts have also recently issued reports about the company. Roth Capital reiterated a buy rating and issued a $68.00 price target (up from $65.00) on shares of Neogen in a research note on Friday, December 25th. Craig Hallum cut Neogen from a buy rating to a hold rating in a research note on Tuesday, December 22nd. Finally, William Blair reiterated a hold rating on shares of Neogen in a research note on Sunday, November 22nd. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Neogen has an average rating of Hold and an average price target of $64.00.

In related news, CEO James L. Herbert sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $54.31, for a total transaction of $407,325.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Edward Bradley sold 24,300 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $55.97, for a total value of $1,360,071.00. Following the sale, the vice president now directly owns 158,230 shares in the company, valued at $8,856,133.10. The disclosure for this sale can be found here.

A number of hedge funds recently bought and sold shares of NEOG. Capstone Asset Management Company raised its stake in Neogen by 14.5% in the fourth quarter. Capstone Asset Management Company now owns 13,366 shares of the company’s stock valued at $755,000 after buying an additional 1,695 shares during the period. National Penn Investors Trust Co. PA raised its stake in Neogen by 1.0% in the fourth quarter. National Penn Investors Trust Co. PA now owns 5,882 shares of the company’s stock valued at $332,000 after buying an additional 60 shares during the period. California State Teachers Retirement System raised its stake in Neogen by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 68,596 shares of the company’s stock valued at $3,877,000 after buying an additional 1,044 shares during the period. Louisiana State Employees Retirement System bought a new stake in Neogen during the fourth quarter valued at approximately $933,000. Finally, Nationwide Fund Advisors raised its stake in Neogen by 2.8% in the fourth quarter. Nationwide Fund Advisors now owns 313,050 shares of the company’s stock valued at $17,694,000 after buying an additional 8,588 shares during the period.

Neogen Corporation develops, manufactures and markets a diverse line of products dedicated to food and animal safety. The Company has two segments: Food Safety and Animal Safety. The Food Safety segment is engaged in the development, production and marketing of diagnostic test kits and related products used by food producers and processors to detect harmful natural toxins, foodborne bacteria, allergens and levels of general sanitation. The Animal Safety segment is engaged in the development, production and marketing of products dedicated to animal safety, including a complete line of consumable products marketed to veterinarians and animal health product distributors. It also provides genomic identification and related interpretive bioinformatics services. Additionally, the Animal Safety segment produces and markets rodenticides, disinfectants and insecticides to assist in control of rodents, insects and disease in and around agricultural, food production and other facilities.

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