Stocks of Neogen Corporation (NASDAQ:NEOG) traded higher last session on Wall Street, down -0.36% to $16.50.
According to the data, Neogen Corporation (NASDAQ:NEOG) has 2 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $14.00 and a low of $14.00, we find $14.00. Given the previous closing price of $16.56, this indicates a potential downside of -15.46 percent. NEOG stock price is now 19.08% away from the 50-day moving average and -28.73% away from the 200-day moving average. The market capitalization of the company currently stands at $3.50B.
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A total of 1 analysts have issued a hold rating and 1 have given it a buy rating. Brokers who have rated the stock have averaged $14.00 as their price target over the next twelve months.
On July 12, 2022, Piper Sandler recently initiated its ‘Neutral’ rating on the stock quoting a target price of $25, while ‘Guggenheim’ rates the stock as ‘Neutral’.
In other news, Quinlan Steven J., VP & CFO bought 5,000 shares of the company’s stock on Oct 11. The stock was bought for $58,150 at an average price of $11.63. Upon completion of the transaction, the VP & CFO now directly owns 32,722 shares in the company, valued at $0.54 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 03, Director BOEHM WILLIAM T bought 2,000 shares of the business’s stock. A total of $27,770 was incurred on buying the stock at an average price of $13.88. This leaves the insider owning 23,242 shares of the company worth $0.38 million. Insiders disposed of 3,636 shares of company stock worth roughly $59994.0 over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in NEOG stock. A new stake in Neogen Corporation shares was purchased by POINT72 ASSET MANAGEMENT, L.P. during the first quarter worth $46,168,000. JUPITER ASSET MANAGEMENT LTD invested $10,839,000 in shares of NEOG during the first quarter. In the first quarter, MURCHINSON LTD. acquired a new stake in Neogen Corporation valued at approximately $8,159,000. PERTENTO PARTNERS LLP acquired a new stake in NEOG for approximately $8,051,000. LMR PARTNERS LLP purchased a new stake in NEOG valued at around $7,793,000 in the second quarter. In total, there are 435 active investors with 93.40% ownership of the company’s stock.
During the past 12 months, Neogen Corporation has had a low of $10.49 and a high of $47.80. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 9.10, and a quick ratio of 7.10. The fifty day moving average price for NEOG is $13.86 and a two-hundred day moving average price translates $23.15 for the stock.
The latest earnings results from Neogen Corporation (NASDAQ: NEOG) was released for Aug, 2022. According to the Diagnostics & Research Company, earnings per share came in at $0.05, missing analysts’ expectations of $0.14 by -0.09. This compares to $0.16 EPS in the same period last year. The net profit margin was 6.90% and return on equity was 4.20% for NEOG. The company reported revenue of $132.35 million for the quarter, compared to $128.31 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 3.15 percent. For the current quarter, analysts expect NEOG to generate $233.79M in revenue.
Neogen Corporation(NEOG) Company Profile
Neogen Corporation, together with its subsidiaries, develops, manufactures, and markets various products for food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment offers diagnostic test kits and related products to detect dangerous and unintended substances in food and animal feed, including foodborne pathogens, spoilage organisms, natural toxins, food allergens, genetic modifications, ruminant by-products, meat speciation, drug residues, pesticide residues, and general sanitation concerns; and AccuPoint Advanced rapid sanitation test to detect the presence of adenosine triphosphate, a chemical found in living cells. This segment offers its products primarily to food and feed producers and processors; grain producers and processors; producers of cookies, crackers, candy, ice cream, and other processed foods; meat and poultry processors, seafood processors, fruit and vegetable producers, and dairies; laboratories; and producers of pharmaceuticals, cosmetics, and veterinary vaccines. The Animal Safety segment provides veterinary instruments, pharmaceuticals, vaccines, topicals, parasiticides, diagnostic products, rodenticides, cleaners, disinfectants, insecticides, and genomics testing services for the animal safety market. This segment offers various products for researchers to detect biologically active substances. Its drug detection immunoassay test kits are used for the detection of abused and therapeutic drugs in farm and racing animals; detection of drug residues in meat and meat products; and human forensic toxicology drug screening applications. In addition, this segment’s products are used to maintain sanitary conditions and limit the potential hazards of bacteria, fungi, and viruses. Neogen Corporation was incorporated in 1981 and is headquartered in Lansing, Michigan.
