In yesterday’s Wall Street session, Neogen Corporation (NASDAQ:NEOG) shares traded at $22.58, down -2.63% from the previous session.
3 analysts cover Neogen Corporation (NASDAQ:NEOG), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $22.00 and a low of $19.00, we find $20.50. Given the previous closing price of $23.19, this indicates a potential downside of -11.6 percent. NEOG stock price is now 10.58% away from the 50-day moving average and 27.69% away from the 200-day moving average. The market capitalization of the company currently stands at $4.70B.
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The stock has received a hold rating from 1 analysts and a buy rating from 2. Brokers who have rated the stock have averaged $20.50 as their price target over the next twelve months.
With the price target of $22, Wells Fargo recently initiated with Overweight rating for Neogen Corporation (NASDAQ: NEOG).
In other news, Jones Douglas Edward, Chief Operating Officer bought 2,500 shares of the company’s stock on Jan 13. The stock was bought for $44,775 at an average price of $17.91. Upon completion of the transaction, the Chief Operating Officer now directly owns 11,860 shares in the company, valued at $0.27 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 11, VP & CFO Quinlan Steven J. bought 5,000 shares of the business’s stock. A total of $58,150 was incurred on buying the stock at an average price of $11.63. This leaves the insider owning 32,722 shares of the company worth $0.74 million. Insiders disposed of 2,285 shares of company stock worth roughly $51595.299999999996 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 CHAMPLAIN INVESTMENT PARTNERS, LLC during the first quarter worth $69,778,000. BLAIR WILLIAM & CO/IL invested $54,289,000 in shares of NEOG during the first quarter. In the first quarter, ACK ASSET MANAGEMENT LLC acquired a new stake in Neogen Corporation valued at approximately $35,902,000. GREAT LAKES ADVISORS, LLC acquired a new stake in NEOG for approximately $11,505,000. GRANAHAN INVESTMENT MANAGEMENT, LLC purchased a new stake in NEOG valued at around $6,724,000 in the second quarter. In total, there are 457 active investors with 93.50% ownership of the company’s stock.
On Tuesday morning Neogen Corporation (NASDAQ: NEOG) stock kicked off with the opening price of $22.94. During the past 12 months, Neogen Corporation has had a low of $10.49 and a high of $23.47. As of last week, the company has a debt-to-equity ratio of 0.28, a current ratio of 5.20, and a quick ratio of 3.80. The fifty day moving average price for NEOG is $20.54 and a two-hundred day moving average price translates $17.73 for the stock.
The latest earnings results from Neogen Corporation (NASDAQ: NEOG) was released for May, 2023. According to the Diagnostics & Research Company, earnings per share came in at $0.03, beating analysts’ expectations of -$0.03 by 0.06. This compares to $0.05 EPS in the same period last year. The net profit margin was -2.00% and return on equity was -0.80% for NEOG. The company reported revenue of $218.25 million for the quarter, compared to $128.24 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 70.19 percent. For the current quarter, analysts expect NEOG to generate $234.1M in revenue.
