On Jan. 07, Quinlan Steven J. divested U.S. $788,526 in shares of Neogen Corporation. The VP, CFO sold 9,333 shares at a price per share of $84.49. The transaction decreased this specific insider’s holdings to 13,470 shares worth around $1.13 million at present.
Guggenheim launched its Neogen Corporation [NEOG] rating to the equivalent of a Neutral, in a research note dated May 23, 2019. Some new analysts also started their coverage, with Guggenheim’s analysts assigning the shares to “a Neutral” rating in a research note to investors issued in late May. In addition, there was a new coverage from CL King on July 14, 2017. The research firm rated NEOG “a Neutral”.
Is Neogen Corporation [NASDAQ:NEOG] a Good Buy Right Now?
It should be noted that NEOG technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 56% Buy in the past month. Data from Neogen Corporation’s Trend Spotter indicated that the signals were Strongest. The stock current average is 0.23 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.21 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.35 million shares.
NEOG Price Performance
On Wall Street, Neogen Corporation [NASDAQ:NEOG] finished Thursday’s session up 0.45% at $84.19. The stock went up to $84.67 at the same session while its lowest single day price was $83.1405. In the last five days, it saw a rise of about 5.32%, Neogen Corporation shares gained by almost 6.17% since the beginning of the year. However, the share price has dropped to as low as 0.20% below its one year high. On 01/07/21, the company shares recorded $84.67, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $77.35. The company’s shares have inclined by 29.54% in the past year. The 50-day SMA achieved is $76.01 while the 200-day SMA is $72.75. Volume dropped to 0.27 million from 0.43 million in the previous session.
Neogen Corporation [NEOG] Valuation Measures
Notably, Neogen Corporation [NEOG] stock cannot be classified as a good candidate in the listing of underestimated low-priced Diagnostics & Research companies to purchase soonest possible with the prevailing 12-month PE ratio of 74.31. The measure means the stock is exchanging at a premium as compared to the 37.81x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 10.43 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 7.07 which means NEOG serve an unattractive investment opportunity compared to its competitors.
NEOG Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 83.33 level, and in case of violation of this particular level, it will cause more drop to 82.47 level. On the upper level, 85.53 is still the key resistance. The stock may increase to the subsequent resistance at 84.86. The Relative Strength Index (RSI) pinned on the 14-day chart is 71.01, implying a overbought technical stance while the MACD stands at 1.82, meaning price will increase in the next trading period. Percent R indicator moved to 4.12%, implying bullish price movement. Stochastic %K at 90.00% suggest selling the stock.
What is the short interest in Neogen Corporation?
Short interest in the Neogen Corporation stock has surged, increasing by 10000.0 shares to total 1.36 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 1.37 million, data from Yahoo Finance shows. The decrease of -0.74% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 4.13% of the overall float for the stock.
Neogen Corporation’s Biggest Shareholders: Who Owns Neogen Corporation [NEOG]?
Filings by BlackRock Fund Advisors showed that the firm now holds a total of 7,270,489 shares or roughly 13.71% of the outstanding NEOG shares. This means their shares have reduced by -112,788 from the 7,270,489 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, Brown Capital Management LLC updated stake is worth $487,613,599. Details in the latest 13F filings reveal that The Vanguard Group, Inc. disposed off their -2.95% stake valued at $392,395,202 while Fred Alger Management LLC added theirs at $144,849,904. During the last quarter, The Vanguard Group, Inc. liquidated -160,584 of its shares in Neogen Corporation while Fred Alger Management LLC bought 8,837 shares. The Conestoga Capital Advisors LLC’s holdings currently number 1,830,422 shares at $154103228.18. According to the firm’s last 13F report, Wasatch Advisors, Inc. shares in the company at filing stood at 1,814,071 shares, roughly $134,640,350.
NEOG Earnings Forecast For The Current Quarter
Neogen Corporation [NEOG] is expected to report strong earnings results for the quarter ending on Feb 2021. Consensus estimates give the company expected revenues of $106.75M and an earnings per share of $0.26 for Feb 2021. Looking further ahead, the company is expected to report revenue of $117.3M at an EPS of $0.33 for May 2021. The estimates represent 8.80% and 12.29% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
NEOG Earnings Estimates For The Current Year
For the financial year, Neogen Corporation [NASDAQ:NEOG] is expected to bring in revenue of $448.33M. The returns are nearly $30.16 million higher than the company’s actual revenue recorded in the fiscal year 2020. In terms of EPS for the 2021, estimate put it at 1.18, higher than that of FY20 by $0.05. Estimates put this year’s earnings growth at 4.40%, 11.90% for the next, and at an annual 10.00% over the next 5-year period. As for sales, forecasts are for an increase of 7.20% in the current fiscal year and a further 8.80% over the following year.
What are analyst thoughts on Neogen Corporation?
Looking forward to the Neogen Corporation share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Neogen Corporation stock at $88.00 within the next 12 months, which represents almost 4.33 per cent growth from its previous closing price of $84.19. The highest analysts’ target for Neogen Corporation stock projections is $88.00 and the lowest one is $88.00. Still, 3 analysts sharing their consensus rating for NEOG stock in 2021 agree that it is an Overweight.