Neogen Corporation (NASDAQ:NEOG) has a beta value of 0.63 and has seen 0.61 million shares traded in the recent trading session. The company, currently valued at $3.32B, closed the recent trade at $15.40 per share which meant it gained $0.11 on the day or 0.75% during that session. The NEOG stock price is -210.39% off its 52-week high price of $47.80 and 1.69% above the 52-week low of $15.14. If we look at the company’s 10-day average daily trading volume, we find that it stood at 9.24 million shares traded. The 3-month trading volume is 5.46 million shares.
Neogen Corporation (NASDAQ:NEOG) trade information
Sporting 0.75% in the green today, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 09/20/22 when the NEOG stock price touched $15.40 or saw a rise of 8.93%. Year-to-date, Neogen Corporation shares have moved -66.33%, while the 5-day performance has seen it change -7.33%. Over the past 30 days, the shares of Neogen Corporation (NASDAQ:NEOG) have changed -27.23%. Short interest in the company has seen 34.44 million shares shorted with days to cover at 5.36.
Wall Street analysts have a consensus price target for the stock at $20.00, which means that the shares’ value could jump 23.0% from the levels at last check today. The projected low price target is $20.00 while the price target rests at a high of $20.00. In that case, then, we find that the latest price level in today’s session is -29.87% off the targeted high while a plunge would see the stock gain -29.87% from the levels at last check today.
Neogen Corporation (NEOG) estimates and forecasts
Figures show that Neogen Corporation shares have underperformed across the wider relevant industry. The company’s shares have lost -56.14% over the past 6 months, with this year growth rate of -4.76%, compared to 2.40% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2022 fiscal year revenue. Growth estimates for the current quarter are -25.00% and 40.00% for the next quarter. Revenue growth from the last financial year stood is estimated to be 33.40%.
2 analysts offering their estimates for the company have set an average revenue estimate of $135.74 million for the current quarter. 2 have an estimated revenue figure of $184.75 million for the next quarter concluding in Nov 2022.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 0.90% over the past 5 years. Earnings growth for 2022 is a modest -21.30% while over the next 5 years, the company’s earnings are expected to increase by 10.00%.
Neogen Corporation is expected to release its next earnings report on September 27 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Neogen Corporation (NASDAQ:NEOG)’s Major holders
Insiders own 0.18% of the company shares, while shares held by institutions stand at 56.12% with a share float percentage of 56.23%. Investors are also buoyed by the number of investors in a company, with Neogen Corporation having a total of 420 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 11.85 million shares worth more than $182.37 million. As of Jun 29, 2022, Blackrock Inc. held 10.99% of shares outstanding.
The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 10.39 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $159.93 million and represent 9.63% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Brown Capital Management Small Company Fund and iShares Core S&P Midcap ETF. As of Jun 29, 2022, the former fund manager holds about 4.31% shares in the company for having 4.65 million shares of worth $71.57 million while later fund manager owns 3.18 million shares of worth $48.97 million as of Aug 30, 2022, which makes it owner of about 2.95% of company’s outstanding stock.