Neogen Corporation [NASDAQ: NEOG] closed the trading session at $16.79 on 04/19/23. The day’s price range saw the stock hit a low of $16.125, while the highest price level was $16.95. The company report on March 30, 2023 at 7:00 AM 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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The stocks have a year to date performance of 10.24 percent and weekly performance of -0.94 percent. The stock has been moved at 42.89 percent over the last six months. The stock has performed -7.39 percent around the most recent 30 days and changed -9.97 percent over the most recent 3-months.
If compared to the average trading volume of 1.81M shares, NEOG reached to a volume of 1890762 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 $19.00 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 0.66, with the Price to Sales ratio for NEOG stock in the period of the last 12 months amounting to 5.21. The Price to Book ratio for the last quarter was 1.16, with the Price to Cash per share for the same quarter was set at 0.82.
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 -0.94. With this latest performance, NEOG shares dropped by -7.39% in over the last four-week period, additionally plugging by 42.89% over the last 6 months – not to mention a drop of -42.24% 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 42.57, with the RSI for the last a single of trading hit 43.30, and the three-weeks RSI is set at 43.38 for Neogen Corporation [NEOG]. The present Moving Average for the last 50 days of trading for this stock 18.38, while it was recorded at 16.44 for the last single week of trading, and 17.66 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 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 3.80 and a Current Ratio set at 5.20.
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 $3,674 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 $319.98 million in NEOG stocks shares; and NORGES BANK, currently with $308.95 million in NEOG stock with ownership of nearly 2052.021% of the company’s market capitalization.
Positions in Neogen Corporation stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 189 institutional holders increased their position in Neogen Corporation [NASDAQ:NEOG] by around 62,620,227 shares. Additionally, 193 investors decreased positions by around 34,471,642 shares, while 58 investors held positions by with 121,728,518 shares. The mentioned changes placed institutional holdings at 218,820,387 shares, according to the latest SEC report filing. NEOG stock had 60 new institutional investments in for a total of 13,275,908 shares, while 69 institutional investors sold positions of 8,388,226 shares during the same period.