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.
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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 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.
Institutional Ownership:
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.
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 $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.
