Neogen Corp. (NASDAQ:NEOG) has a beta value of 1.13 and has seen 2.83 million shares traded in the recent trading session. The company, currently valued at $2.96B, closed the recent trade at $13.67 per share which meant it lost -$0.71 on the day or -4.94% during that session. The NEOG stock price is -76.23% off its 52-week high price of $24.09 and -1.98% below the 52-week low of $13.94. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.7 million shares traded. The 3-month trading volume is 1.91 million shares.
Neogen Corp. (NASDAQ:NEOG) trade information
Sporting -4.94% in the red today, the stock has traded in the red over the last five days, when the NEOG stock price touched $13.67 or saw a rise of 6.56%. Year-to-date, Neogen Corp. shares have moved -32.02%, while the 5-day performance has seen it change -5.66%. Over the past 30 days, the shares of Neogen Corp. (NASDAQ:NEOG) have changed -16.49%. Short interest in the company has seen 16.22 million shares shorted with days to cover at 12.58.
Neogen Corp. (NEOG) estimates and forecasts
Figures show that Neogen Corp. shares have underperformed across the wider relevant industry. The company’s shares have lost -20.20% over the past 6 months, with this year growth rate of -3.57%, compared to 17.90% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2024 fiscal year revenue. Growth estimates for the current quarter are 16.70% and 21.40% for the next quarter. Revenue growth from the last financial year stood is estimated to be 14.10%.
2 analysts offering their estimates for the company have set an average revenue estimate of $230.01 million for the current quarter. 2 have an estimated revenue figure of $249.54 million for the next quarter concluding in May 2024.
Earnings growth for 2024 is a modest 137.50% while over the next 5 years, the company’s earnings are expected to increase by 10.00%.
NEOG Dividends
Neogen Corp. is expected to release its next earnings report on April 09 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Neogen Corp. (NASDAQ:NEOG)’s Major holders
Insiders own 0.12% of the company shares, while shares held by institutions stand at 108.08% with a share float percentage of 108.20%. Investors are also buoyed by the number of investors in a company, with Neogen Corp. having a total of 444 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 25.04 million shares worth more than $544.59 million. As of Jun 29, 2023, Blackrock Inc. held 11.58% of shares outstanding.
The other major institutional holder is Norges Bank Investment Management, with the holding of over 18.4 million shares as of Dec 30, 2022. The firm’s total holdings are worth over $280.25 million and represent 8.51% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are iShares Core S&P Midcap ETF and Vanguard Small-Cap Index Fund. As of Sep 29, 2023, the former fund manager holds about 2.85% shares in the company for having 6.15 million shares of worth $114.1 million while later fund manager owns 5.02 million shares of worth $109.27 million as of Jun 29, 2023, which makes it owner of about 2.32% of company’s outstanding stock.
