Neogen Corporation (NASDAQ: NEOG) stock fell -1.88% on Monday to $20.37 against a previous-day closing price of $20.76. With 1.1 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.67 million shares. During the session, the Diagnostics & Research company that operates in wider Healthcare sector, reached to the highest price of $20.81 whereas the lowest price it dropped to was $20.22. The 52-week range on NEOG shows that it touched its highest point at $24.09 and its lowest point at $10.49 during that stretch. It currently has a 1-year price target of $26.00. Beta for the stock currently stands at 1.04.
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 2.77%, but this was down by -9.67% over a month. Three-month performance dropped to -1.93% while six-month performance rose 10.23%. The stock gained 25.97% in the past year, while it has gained 33.75% so far this year. A look at the trailing 12-month EPS for NEOG yields -0.08 with Next year EPS estimates of 0.75. For the next quarter, that number is 0.14. This implies an EPS growth rate of -127.10% for this year and 28.21% 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 -17.10%.
Float and Shares Shorts:
At present, 216.53 million NEOG shares are outstanding with a float of 216.11 million shares on hand for trading. On Aug 30, 2023, short shares totaled 13.88 million, which was 6.42% higher than short shares on Jul 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.
Through their ownership of 102.79% of NEOG’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 59.62% of NEOG, in contrast to 46.33% held by mutual funds. Shares owned by individuals account for 0.77%. As the largest shareholder in NEOG with 10.39% of the stake, BlackRock Fund Advisors holds 22,474,414 shares worth 22,474,414. 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 17,824,039 shares or 8.24% 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 3.23% of NEOG stock, is the second-largest Mutual Fund holder. It holds 6,980,042 shares valued at 161.38 million. Vanguard Small Cap Index Fund holds 2.34% of the stake in NEOG, owning 5,068,155 shares worth 117.18 million.
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 $28.00 and a low target of $24.00, the average target price over the next 12 months is $26.00. Based on these targets, NEOG could surge 37.46% to reach the target high and rise by 17.82% to reach the target low. Reaching the average price target will result in a growth of 27.64% 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 1 Buys and 1 Sells. In these transactions, 1,500 shares were bought while 1,500 shares were sold. The number of buy transactions has increased to 7 while that of sell transactions has risen to 6 over the past year. The total number of shares bought during that period was 41,500 while 3,785 shares were sold.