As of Wednesday close, Neogen Corporation’s (NASDAQ:NEOG) stock was down -$0.76, moving down -3.19 percent to $23.08. The average number of shares traded per day over the past five days has been 1,267,100 shares. 3 times new highs have been achieved over the past 5 days, with a $0.81 gain in that time frame. In the last twenty days, the average volume was 1,282,285, while in the previous 50 days, it was 1,683,556.
Since last month, NEOG stock rose 0.57%. Shares of the company fell to $21.65 on 07/25/23, the lowest level in the past month. A 52-week high of $24.09 was reached on 08/15/23 after having rallying from a 52-week low of $10.49. Since the beginning of this year, NEOG’s stock price has risen by 51.54% or $7.85, and marked a new high 27 times. However, the stock has declined by -4.21% since its 52-week high.
NEOG stock investors should be aware that Neogen Corporation (NEOG) stock had its last reported insider trading activity 216 days ago on Jan 13. Jones Douglas Edward, the Chief Operating Officer of the company, purchased of 2,500 shares for $17.91 on Jan 13. It resulted in a $44,775 investment by the insider. Quinlan Steven J. added 5,000 shares at an average price of $11.63 on Oct 11. The insider now owns 32,722 shares following the transaction. On Oct 03, Director BOEHM WILLIAM T bought 2,000 shares at $13.88 apiece. The transaction was valued at $27,770.
Valuation Metrics
The stock’s beta is 1.02. Besides these, the trailing price-to-sales (P/S) ratio of 5.96, the price-to-book (PB) ratio of 1.60.
Financial Health
In the three months ended May 30, Neogen Corporation’s quick ratio stood at 3.80, while its current ratio was 5.20, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending May 30 was 0.28, and the total debt-to-equity ratio was 0.28. On the profitability front, the trailing twelve-month gross margin is 49.40% percent. In the year ended May 30, EBITDA margin amounted to 15.31%, whereas operating margins totaled 2.80%. Based on annual data, NEOG earned $405.95 million in gross profit and brought in $822.45 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 5.30%. Return on equity (ROE) for the past 12 months was -0.80%.
In Neogen Corporation’s quarter-end financial report for May 30, it reported total debt of $884.7 million against cash and short-term investments of $116.08 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. NEOG’s revenue rose 41.24% during the quarter, while net income inched up to $218.26 million. While analysts expected Neogen Corporation to report -$0.03 quarterly earnings, the actual figure was $0.03 per share. During the quarter, the company generated $54.58 million in EBITDA. The liabilities of Neogen Corporation were 1.42 billion at the end of its most recent quarter ended May 30. The value of shareholders’ equity is $216.31 million.
Technical Picture
This quick technical analysis looks at Neogen Corporation’s (NEOG) price momentum. With a historical volatility rate of 35.28%, the RSI 9-day stood at 55.02% on 16 August.
With respect to its five-day moving average, the current Neogen Corporation price is up by +3.64% percent or $0.81. At present, NEOG shares trade +1.94% above its 20-day simple moving average and +26.19% percent above its 100-day simple moving average. However, the stock is currently trading approximately +25.43% above its SMA50 and +80.59% above its SMA200.
Stochastic coefficient K was 77.23% and Stochastic coefficient D was 69.10%, while ATR was 0.72. Given the Stochastic reading of 53.47% for the 14-day period, the RSI (14) reading has been calculated as 56.64%. As of today, the MACD Oscillator reading stands at 0.65, while the 14-day reading stands at 0.68.
Analyst Ratings
Wells Fargo launched its rating on Neogen Corporation (NASDAQ: NEOG) to an Overweight in a note to investors on June 16, 2023. Neogen Corporation (NEOG) has been rated Overweight by analysts. According to 0 brokerage firms, NEOG is a sell, and 1 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Neogen Corporation stock as buy, with 2 recommending it as overweight.
With a median target price of $26.00, the current consensus forecast for the stock is $24.00 – $28.00. Based on these forecasts, analysts predict Neogen Corporation (NEOG) will achieve an average price target of $26.00.
