Neogen Corporation [NEOG] Revenue clocked in at $527.20 million, down -53.25% YTD: What’s Next?

Neogen Corporation [NASDAQ: NEOG] stock went on an upward path that rose over 1.48% on Friday, amounting to a one-week price increase of more than 1.05%. The company report on August 17, 2022 that Neogen Shareholders Approve All Proposals Required for Combination with 3M’s Food Safety Business.


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Neogen Corporation (“Neogen”) (NASDAQ: NEOG) announced that, at the special meeting of Neogen shareholders held today, Neogen shareholders voted to approve all proposals required in connection with the pending combination of the food safety business of 3M Company (“3M”) (NYSE: MMM) with Neogen, including the issuance of shares of Neogen common stock pursuant to the Agreement and Plan of Merger, dated as of December 13, 2021, among Neogen, 3M, Nova RMT Sub, Inc., a wholly owned subsidiary of Neogen, and Garden SpinCo Corporation, currently a wholly owned subsidiary of 3M, and certain amendments to Neogen’s organizational documents. The transaction is expected to be completed on September 1, 2022, subject to the satisfaction or waiver of the remaining customary closing conditions.

“We are pleased to have received the support of our shareholders and the approval of the necessary proposals as we look toward the expected close of this transaction,” said John Adent, Neogen’s President and CEO. “I want to thank all of our investors for their continued support, and I am excited for Neogen’s future growth as we strengthen our position at the forefront of the new era in food security.”.

Over the last 12 months, NEOG stock dropped by -50.18%. The one-year Neogen Corporation stock forecast points to a potential upside of 18.35. The average equity rating for NEOG stock is currently 3.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $2.26 billion, with 107.79 million shares outstanding and 107.44 million shares in the current float. Compared to the average trading volume of 2.26M shares, NEOG stock reached a trading volume of 18357888 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 0.76, with the Price to Sales ratio for NEOG stock in the period of the last 12 months amounting to 4.28. 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 3.59. Price to Free Cash Flow for NEOG in the course of the last twelve months was 51.74 with Quick ratio for the last quarter at 6.50.

NEOG Stock Performance Analysis:

Neogen Corporation [NEOG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.05. With this latest performance, NEOG shares dropped by -6.76% in over the last four-week period, additionally sinking by -41.40% over the last 6 months – not to mention a drop of -50.18% 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 44.00, with the RSI for the last a single of trading hit 46.54, and the three-weeks RSI is set at 42.76 for Neogen Corporation [NEOG]. The present Moving Average for the last 50 days of trading for this stock 22.47, while it was recorded at 20.81 for the last single week of trading, and 31.66 for the last 200 days.

Insight into Neogen Corporation 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.

NEOG Stock EPS

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 Position Details

There are presently around $2,260 million, or 99.60% of NEOG stock, in the hands of institutional investors. The top three institutional holders of NEOG stocks are: BLACKROCK INC. with ownership of 11,846,033, which is approximately 1.272% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 10,388,239 shares of the stock with an approximate value of $220.54 million in NEOG stocks shares; and BROWN CAPITAL MANAGEMENT LLC, currently with $186.32 million in NEOG stock with ownership of nearly -15.89% 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 151 institutional holders increased their position in Neogen Corporation [NASDAQ:NEOG] by around 9,860,127 shares. Additionally, 140 investors decreased positions by around 5,475,277 shares, while 64 investors held positions by with 91,117,378 shares. The mentioned changes placed institutional holdings at 106,452,782 shares, according to the latest SEC report filing. NEOG stock had 35 new institutional investments in for a total of 2,538,735 shares, while 34 institutional investors sold positions of 333,790 shares during the same period.

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