William Blair slashes price target on Neogen Corporation [NEOG] – find out why.

Neogen Corporation [NASDAQ: NEOG] surged by $0.17 during the normal trading session on Thursday and reaching a high of $15.74 during the day while it closed the day at $15.53. The company report on November 23, 2022 that Neogen® to Participate in the Piper Sandler 34th Annual Healthcare Conference.

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Neogen Corporation (NASDAQ: NEOG) announced today that the Company will participate in the Piper Sandler 34th Annual Healthcare Conference in New York City on Wednesday, November 30, 2022.

John Adent, Neogen’s President and Chief Executive Officer, will present at 8:00 a.m. Eastern Time.

Neogen Corporation stock has also loss -5.88% of its value over the past 7 days. However, NEOG stock has declined by -15.87% in the 3 months of the year. Over the past six months meanwhile, it has lost -37.35% and lost -65.80% year-on date.

The market cap for NEOG stock reached $3.37 billion, with 216.11 million shares outstanding and 215.76 million shares in the current float. Compared to the average trading volume of 5.04M shares, NEOG reached a trading volume of 3002448 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 $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 2.00. 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.

William Blair have made an estimate for Neogen Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on November 22, 2022. While these analysts kept the previous recommendation, Piper Sandler raised their target price to Neutral. The new note on the price target was released on July 12, 2022, representing the official price target for Neogen Corporation stock.

The Average True Range (ATR) for Neogen Corporation is set at 0.64, with the Price to Sales ratio for NEOG stock in the period of the last 12 months amounting to 6.35. The Price to Book ratio for the last quarter was 1.89, with the Price to Cash per share for the same quarter was set at 1.60.

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 -5.88. With this latest performance, NEOG shares gained by 9.99% in over the last four-week period, additionally sinking by -37.35% over the last 6 months – not to mention a drop of -62.47% 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 52.44, with the RSI for the last a single of trading hit 48.95, and the three-weeks RSI is set at 52.32 for Neogen Corporation [NEOG]. The present Moving Average for the last 50 days of trading for this stock 14.00, while it was recorded at 15.74 for the last single week of trading, and 22.56 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 7.10 and a Current Ratio set at 9.10.

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 $3,030 million, or 93.50% 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 $291.33 million in NEOG stocks shares; and WASATCH ADVISORS INC, currently with $209.43 million in NEOG stock with ownership of nearly 98.483% of the company’s market capitalization.

Positions in Neogen Corporation stocks held by institutional investors increased at the end of December and at the time of the December reporting period, where 303 institutional holders increased their position in Neogen Corporation [NASDAQ:NEOG] by around 96,778,933 shares. Additionally, 83 investors decreased positions by around 7,701,583 shares, while 41 investors held positions by with 90,615,855 shares. The mentioned changes placed institutional holdings at 195,096,371 shares, according to the latest SEC report filing. NEOG stock had 112 new institutional investments in for a total of 9,999,185 shares, while 35 institutional investors sold positions of 1,320,361 shares during the same period.


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