Neogen Corporation [NASDAQ: NEOG] price surged by 4.83 percent to reach at $0.9. The company report on January 5, 2023 that Neogen Announces Second-Quarter 2023 Results.
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Revenue of $230.0 million, up 76.2% over the prior-year quarter.
A sum of 4937132 shares traded at recent session while its average daily volume was at 3.56M shares. Neogen Corporation shares reached a high of $19.865 and dropped to a low of $18.66 until finishing in the latest session at $19.55.
The one-year NEOG stock forecast points to a potential downside of -15.0. The average equity rating for NEOG stock is currently 2.00, trading closer to a bullish pattern in the stock market.
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 $17.00 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 0.65, with the Price to Sales ratio for NEOG stock in the period of the last 12 months amounting to 6.67. The Price to Book ratio for the last quarter was 1.36, with the Price to Cash per share for the same quarter was set at 1.28.
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 9.59. With this latest performance, NEOG shares gained by 31.38% in over the last four-week period, additionally sinking by -12.84% over the last 6 months – not to mention a drop of -47.62% 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 82.83, with the RSI for the last a single of trading hit 90.73, and the three-weeks RSI is set at 75.69 for Neogen Corporation [NEOG]. The present Moving Average for the last 50 days of trading for this stock 15.87, while it was recorded at 18.42 for the last single week of trading, and 20.13 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 3.30 and a Current Ratio set at 4.20.
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 $3,765 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 $366.75 million in NEOG stocks shares; and WASATCH ADVISORS INC, currently with $263.64 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 January and at the time of the January reporting period, where 292 institutional holders increased their position in Neogen Corporation [NASDAQ:NEOG] by around 94,807,488 shares. Additionally, 86 investors decreased positions by around 9,224,862 shares, while 46 investors held positions by with 88,555,117 shares. The mentioned changes placed institutional holdings at 192,587,467 shares, according to the latest SEC report filing. NEOG stock had 103 new institutional investments in for a total of 9,931,631 shares, while 34 institutional investors sold positions of 1,270,829 shares during the same period.