There is no way Neogen Corporation (NEOG) can keep these numbers up

Neogen Corporation (NASDAQ: NEOG) stock jumped 2.02% on Wednesday to $16.20 against a previous-day closing price of $15.88. With 2.03 million shares changed hands, the volume of the stock remained lighter than its average volume of 7.05 million shares. During the session, the Diagnostics & Research company that operates in wider Healthcare sector, reached to the highest price of $16.24 whereas the lowest price it dropped to was $15.90. The 52-week range on NEOG shows that it touched its highest point at $47.80 and its lowest point at $10.49 during that stretch. It currently has a 1-year price target of $14.00. Beta for the stock currently stands at 0.73.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NEOG was up-trending over the past week, with a rise of 1.00%, but this was up by 34.55% over a month. Three-month performance dropped to -22.56% while six-month performance fell -38.41%. The stock lost -63.66% in the past year, while it has lost -64.33% so far this year. A look at the trailing 12-month EPS for NEOG yields 0.34 with Next year EPS estimates of -0.07. For the next quarter, that number is -0.08. This implies an EPS growth rate of -21.30% for this year and 36.40% for next year. EPS is expected to grow by 10.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 0.90%.

Float and Shares Shorts:

At present, 216.11 million NEOG shares are outstanding with a float of 215.76 million shares on hand for trading. On Oct 13, 2022, short shares totaled 12.84 million, which was 5.94% higher than short shares on Sep 14, 2022. In addition to Mr. John Edward Adent as the firm’s Pres, CEO & Director, Mr. Steven J. Quinlan serves as its VP & CFO.

Institutional Ownership:

Through their ownership of 56.29% of NEOG’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 53.04% of NEOG, in contrast to 38.14% held by mutual funds. Shares owned by individuals account for 0.77%. As the largest shareholder in NEOG with 8.58% of the stake, The Vanguard Group, Inc. holds 18,541,055 shares worth 18,541,055. A second-largest stockholder of NEOG, BlackRock Fund Advisors, holds 16,897,241 shares, controlling over 7.82% of the firm’s shares. Wasatch Advisors, Inc. is the third largest shareholder in NEOG, holding 13,485,361 shares or 6.24% stake. With a 3.01% stake in NEOG, the iShares Core S&P Mid Cap ETF is the largest stakeholder. A total of 6,496,744 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 2.58% of NEOG stock, is the second-largest Mutual Fund holder. It holds 5,576,301 shares valued at 73.61 million. Vanguard Total Stock Market Index holds 2.30% of the stake in NEOG, owning 4,971,220 shares worth 65.62 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NEOG since 2 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With NEOG analysts setting a high price target of $14.00 and a low target of $14.00, the average target price over the next 12 months is $14.00. Based on these targets, NEOG could drop -13.58% to reach the target high and fall by -13.58% to reach the target low. Reaching the average price target will result in a decline of -13.58% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. NEOG will report FY 2023 earnings on 07/18/2023. Analysts have provided yearly estimates in a range of -$0.11 being high and -$0.11 being low. For NEOG, this leads to a yearly average estimate of -$0.11. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Neogen Corporation surprised analysts by -$0.06 when it reported $0.05 EPS against a consensus estimate of $0.10. The surprise factor in the prior quarter was $0.03. Based on analyst estimates, the high estimate for the next quarter is -$0.08 and the low estimate is -$0.08. The average estimate for the next quarter is thus -$0.08.

Summary of Insider Activity:

Insiders traded NEOG stock several times over the past three months with 4 Buys and 0 Sells. In these transactions, 36,000 shares were bought while 0 shares were sold. The number of buy transactions has increased to 12 while that of sell transactions has risen to 2 over the past year. The total number of shares bought during that period was 69,636 while 3,636 shares were sold.

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