Neogen Corporation [NEOG] Is Currently -3.66 below its 200 Period Moving Avg: What Does This Mean?

Neogen Corporation [NASDAQ: NEOG] loss -3.66% on the last trading session, reaching $11.32 price per share at the time. The company report on October 10, 2022 that Neogen Adds COMPANION™ Ready-to-Use Disinfectant to Biosecurity Portfolio.

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New COMPANION™ RTU disinfectant removes the need to mix, saving animal health providers time and ensuring accurate concentrations.

Neogen Corporation (NASDAQ: NEOG) announced today that it has added COMPANION™ RTU, a ready-to-use formulation of its COMPANION disinfectant, to its veterinary biosecurity portfolio.

Neogen Corporation represents 216.11 million in outstanding shares, while the company has a total market value of $2.62 billion with the latest information. NEOG stock price has been found in the range of $11.28 to $12.355.

If compared to the average trading volume of 6.71M shares, NEOG reached a trading volume of 4397908 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $14.00 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 0.74, with the Price to Sales ratio for NEOG stock in the period of the last 12 months amounting to 4.93. The Price to Book ratio for the last quarter was 1.38, with the Price to Cash per share for the same quarter was set at 1.50.

Trading performance analysis for NEOG stock

Neogen Corporation [NEOG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.08. With this latest performance, NEOG shares dropped by -28.63% in over the last four-week period, additionally sinking by -61.37% over the last 6 months – not to mention a drop of -72.45% 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 24.50, with the RSI for the last a single of trading hit 25.08, and the three-weeks RSI is set at 25.24 for Neogen Corporation [NEOG]. The present Moving Average for the last 50 days of trading for this stock 17.05, while it was recorded at 11.75 for the last single week of trading, and 26.66 for the last 200 days.

Neogen Corporation [NEOG]: A deeper dive into fundamental analysis

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 7.10 and a Current Ratio set at 9.10.

Neogen Corporation [NEOG]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at Neogen Corporation [NEOG]

There are presently around $1,200 million, or 56.20% 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 $117.59 million in NEOG stocks shares; and BROWN CAPITAL MANAGEMENT LLC, currently with $99.35 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 September and at the time of the September reporting period, where 163 institutional holders increased their position in Neogen Corporation [NASDAQ:NEOG] by around 9,893,551 shares. Additionally, 132 investors decreased positions by around 5,807,938 shares, while 58 investors held positions by with 90,347,572 shares. The mentioned changes placed institutional holdings at 106,049,061 shares, according to the latest SEC report filing. NEOG stock had 40 new institutional investments in for a total of 2,553,387 shares, while 30 institutional investors sold positions of 377,528 shares during the same period.


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