For Neogen Corporation [NEOG], Analyst sees a rise to $25. What next?

Neogen Corporation [NASDAQ: NEOG] closed the trading session at $21.27 on 08/09/22. The day’s price range saw the stock hit a low of $21.02, while the highest price level was $21.57. The company report on August 4, 2022 that 3M Commences Split-Off Exchange Offer for Food Safety Business.

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3M Company (“3M”) (NYSE: MMM) announced today the commencement of an exchange offer to effect the separation of its food safety business (the “Food Safety Business”), in furtherance of the previously announced Reverse Morris Trust transaction with Neogen Corporation (“Neogen”) (NASDAQ: NEOG) through the merger of Garden SpinCo Corporation (“SpinCo”), currently a wholly-owned subsidiary of 3M formed to hold the Food Safety Business, with a subsidiary of Neogen (the “Merger”).

The stocks have a year to date performance of -53.16 percent and weekly performance of -3.80 percent. The stock has been moved at -40.24 percent over the last six months. The stock has performed -7.04 percent around the most recent 30 days and changed -20.25 percent over the most recent 3-months.

If compared to the average trading volume of 1.24M shares, NEOG reached to a volume of 5881644 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Neogen Corporation [NEOG]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NEOG shares is $26.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NEOG stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Piper Sandler have made an estimate for Neogen Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 12, 2022. While these analysts kept the previous recommendation, Guggenheim raised their target price to Neutral. The new note on the price target was released on May 23, 2019, representing the official price target for Neogen Corporation stock. Previously, the target price had yet another raise to $82, while ROTH Capital analysts kept a Neutral rating on NEOG stock.

The Average True Range (ATR) for Neogen Corporation is set at 0.79, with the Price to Sales ratio for NEOG stock in the period of the last 12 months amounting to 4.38. The Price to Book ratio for the last quarter was 2.58, with the Price to Cash per share for the same quarter was set at 3.51. Price to Free Cash Flow for NEOG in the course of the last twelve months was 52.95 with Quick ratio for the last quarter at 6.50.

NEOG stock trade performance evaluation

Neogen Corporation [NEOG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.80. With this latest performance, NEOG shares dropped by -7.04% in over the last four-week period, additionally sinking by -40.24% over the last 6 months – not to mention a drop of -50.85% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NEOG stock in for the last two-week period is set at 37.91, with the RSI for the last a single of trading hit 35.44, and the three-weeks RSI is set at 38.63 for Neogen Corporation [NEOG]. The present Moving Average for the last 50 days of trading for this stock 23.47, while it was recorded at 21.59 for the last single week of trading, and 33.07 for the last 200 days.

Neogen Corporation [NEOG]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Neogen Corporation [NEOG] shares currently have an operating margin of +11.12 and a Gross Margin at +46.10. Neogen Corporation’s Net Margin is presently recorded at +9.16.

Return on Equity for this stock inclined to 5.59, with Return on Assets sitting at 5.02.

Neogen Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.50 and a Current Ratio set at 8.10.

Earnings per share (EPS) analysis for Neogen Corporation [NEOG] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NEOG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Neogen Corporation go to 10.00%.

Neogen Corporation [NEOG]: Insider Ownership positions

There are presently around $2,197 million, or 97.80% of NEOG stock, in the hands of institutional investors. The top three institutional holders of NEOG stocks are: BLACKROCK INC. with ownership of 11,697,242, which is approximately 0.41% of the company’s market cap and around 0.34% of the total institutional ownership; VANGUARD GROUP INC, holding 10,467,026 shares of the stock with an approximate value of $222.63 million in NEOG stocks shares; and BROWN CAPITAL MANAGEMENT LLC, currently with $221.94 million in NEOG stock with ownership of nearly -12.312% of the company’s market capitalization.

Positions in Neogen Corporation stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 152 institutional holders increased their position in Neogen Corporation [NASDAQ:NEOG] by around 7,591,290 shares. Additionally, 137 investors decreased positions by around 4,914,521 shares, while 63 investors held positions by with 90,798,419 shares. The mentioned changes placed institutional holdings at 103,304,230 shares, according to the latest SEC report filing. NEOG stock had 35 new institutional investments in for a total of 680,858 shares, while 37 institutional investors sold positions of 318,842 shares during the same period.


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