Neogen Corporation (NASDAQ: NEOG) stock jumped 3.34% on Wednesday to $17.00 against a previous-day closing price of $16.45. With 1.87 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.43 million shares. During the session, the Diagnostics & Research company that operates in wider Healthcare sector, reached to the highest price of $17.03 whereas the lowest price it dropped to was $16.04. The 52-week range on NEOG shows that it touched its highest point at $26.95 and its lowest point at $10.49 during that stretch. It currently has a 1-year price target of $19.00. Beta for the stock currently stands at 0.99.
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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 0.35%, but this was up by 1.19% over a month. Three-month performance dropped to -10.67% while six-month performance rose 10.03%. The stock lost -35.68% in the past year, while it has gained 11.62% so far this year. A look at the trailing 12-month EPS for NEOG yields 0.03 with Next year EPS estimates of -0.01. For the next quarter, that number is -0.04. This implies an EPS growth rate of -21.30% for this year and 92.90% 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, 216.22 million NEOG shares are outstanding with a float of 215.80 million shares on hand for trading. On Apr 27, 2023, short shares totaled 12.88 million, which was 5.96% higher than short shares on Mar 30, 2023. In addition to Mr. John Edward Adent as the firm’s Pres, CEO & Director, Mr. Douglas E. Jones serves as its COO & VP.
Institutional Ownership:
Through their ownership of 101.13% of NEOG’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 53.58% of NEOG, in contrast to 49.42% held by mutual funds. Shares owned by individuals account for 0.77%. As the largest shareholder in NEOG with 10.16% of the stake, BlackRock Fund Advisors holds 21,972,111 shares worth 21,972,111. A second-largest stockholder of NEOG, Norges Bank Investment Management, holds 18,400,920 shares, controlling over 8.51% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in NEOG, holding 17,944,477 shares or 8.30% stake. With a 8.51% stake in NEOG, the Government Pension Fund – Global is the largest stakeholder. A total of 18,400,919 shares are owned by the mutual fund manager. The iShares Core S&P Mid Cap ETF, which owns about 3.12% of NEOG stock, is the second-largest Mutual Fund holder. It holds 6,745,135 shares valued at 116.15 million. Vanguard Small Cap Index Fund holds 2.35% of the stake in NEOG, owning 5,089,639 shares worth 87.64 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Feb 27, 2023, NEOG reported revenue of $140.09M and operating income of $18.03M. The EBITDA in the recently reported quarter was $18.03M and diluted EPS was $0.14.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NEOG since 0 analysts follow the stock currently. 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 $19.00 and a low target of $19.00, the average target price over the next 12 months is $19.00. Based on these targets, NEOG could surge 11.76% to reach the target high and rise by 11.76% to reach the target low. Reaching the average price target will result in a growth of 11.76% 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.
Summary of Insider Activity:
Insiders traded NEOG stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 11 while that of sell transactions has risen to 1 over the past year. The total number of shares bought during that period was 68,600 while 750 shares were sold.
