Neogen Corporation [NASDAQ: NEOG] stock went on a downward path that fall over -5.62% on Thursday, amounting to a one-week price decrease of less than -4.59%. The company report on March 30, 2023 that Neogen Announces Third-Quarter 2023 Results.
Revenue of $218.3 million, an increase of 70% over the prior-year quarter.
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Over the last 12 months, NEOG stock dropped by -45.38%. The one-year Neogen Corporation stock forecast points to a potential upside of 12.75. The average equity rating for NEOG stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $3.79 billion, with 216.13 million shares outstanding and 215.80 million shares in the current float. Compared to the average trading volume of 2.03M shares, NEOG stock reached a trading volume of 3912370 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 $20.00 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 0.72, with the Price to Sales ratio for NEOG stock in the period of the last 12 months amounting to 6.01. The Price to Book ratio for the last quarter was 1.21, with the Price to Cash per share for the same quarter was set at 1.27.
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 -4.59. With this latest performance, NEOG shares dropped by -4.96% in over the last four-week period, additionally plugging by 21.10% over the last 6 months – not to mention a drop of -45.38% 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 39.51, with the RSI for the last a single of trading hit 35.23, and the three-weeks RSI is set at 42.74 for Neogen Corporation [NEOG]. The present Moving Average for the last 50 days of trading for this stock 19.17, while it was recorded at 18.14 for the last single week of trading, and 18.08 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 Total Capital for NEOG is now 6.77, given the latest momentum, and Return on Invested Capital for the company is 5.59. Return on Equity for this stock inclined to 5.59, with Return on Assets sitting at 5.02. When it comes to the capital structure of this company, Neogen Corporation [NEOG] has a Total Debt to Total Equity ratio set at 0.16. Additionally, NEOG Total Debt to Total Capital is recorded at 0.16, with Total Debt to Total Assets ending up at 0.14. Long-Term Debt to Equity for the company is recorded at 0.00, with the Long-Term Debt to Total Capital now at 0.00.
Reflecting on the efficiency of the workforce at the company, Neogen Corporation [NEOG] managed to generate an average of $22,916 per employee. Receivables Turnover for the company is 5.51 with a Total Asset Turnover recorded at a value of 0.55.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 $4,063 million, or 93.50% of NEOG stock, in the hands of institutional investors. The top three institutional holders of NEOG stocks are: BLACKROCK INC. with ownership of 24,461,916, which is approximately 30.398% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 19,057,576 shares of the stock with an approximate value of $352.38 million in NEOG stocks shares; and NORGES BANK, currently with $340.23 million in NEOG stock with ownership of nearly 2052.021% of the company’s market capitalization.
195 institutional holders increased their position in Neogen Corporation [NASDAQ:NEOG] by around 62,702,627 shares. Additionally, 188 investors decreased positions by around 35,310,058 shares, while 63 investors held positions by with 121,717,875 shares. The mentioned changes placed institutional holdings at 219,730,560 shares, according to the latest SEC report filing. NEOG stock had 58 new institutional investments in for a total of 13,281,124 shares, while 68 institutional investors sold positions of 7,766,814 shares during the same period.