Neogen Corporation [NEOG] stock Initiated by Piper Sandler analyst, price target now $25

Neogen Corporation [NASDAQ: NEOG] stock went on a downward path that fall over -2.62%  amounting to a one-week price decrease of less than -1.14%. The company report on November 15, 2022 that Neogen® Releases New Dual-Detection Needle for Production Farmers.


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Company’s new patent-pending needles offer the next level of dependability, with a new, highly visible extraction collar.

Neogen Corporation (NASDAQ: NEOG) announced today that it has released an upgraded version of its best-selling Ideal® D3™ detectable needles, designed to be six times more detectable than the conventional and stainless-steel needles.

Over the last 12 months, NEOG stock dropped by -64.18%. The one-year Neogen Corporation stock forecast points to a potential downside of -11.57. 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 $3.28 billion, with 216.11 million shares outstanding and 215.76 million shares in the current float. Compared to the average trading volume of 7.15M shares, NEOG stock reached a trading volume of 2645397 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 $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 0.66, with the Price to Sales ratio for NEOG stock in the period of the last 12 months amounting to 6.17. The Price to Book ratio for the last quarter was 1.90, with the Price to Cash per share for the same quarter was set at 1.66.

NEOG Stock Performance Analysis:

Neogen Corporation [NEOG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.14. With this latest performance, NEOG shares gained by 43.30% in over the last four-week period, additionally sinking by -40.11% over the last 6 months – not to mention a drop of -64.18% 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 62.66, with the RSI for the last a single of trading hit 65.88, and the three-weeks RSI is set at 57.26 for Neogen Corporation [NEOG]. The present Moving Average for the last 50 days of trading for this stock 13.97, while it was recorded at 16.04 for the last single week of trading, and 23.95 for the last 200 days.

Insight into Neogen Corporation Fundamentals:

Neogen Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.10 and a Current Ratio set at 9.10.

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 $3,045 million, or 59.50% of NEOG stock, in the hands of institutional investors. The top three institutional holders of NEOG stocks are: VANGUARD GROUP INC with ownership of 18,922,426, which is approximately 82.152% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 18,759,359 shares of the stock with an approximate value of $293.02 million in NEOG stocks shares; and WASATCH ADVISORS INC, currently with $210.64 million in NEOG stock with ownership of nearly 98.483% of the company’s market capitalization.

301 institutional holders increased their position in Neogen Corporation [NASDAQ:NEOG] by around 96,610,097 shares. Additionally, 84 investors decreased positions by around 7,708,395 shares, while 41 investors held positions by with 90,608,284 shares. The mentioned changes placed institutional holdings at 194,926,776 shares, according to the latest SEC report filing. NEOG stock had 110 new institutional investments in for a total of 9,980,254 shares, while 36 institutional investors sold positions of 1,327,173 shares during the same period.

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