The stock of Neogen Corporation (NASDAQ:NEOG) hit a new 52-week high and has $66.43 target or 5.00% above today’s $63.27 share price. The 5 months bullish chart indicates low risk for the $2.39 billion company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $66.43 price target is reached, the company will be worth $119.50M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 58,450 shares traded hands. Neogen Corporation (NASDAQ:NEOG) has risen 29.86% since April 21, 2016 and is uptrending. It has outperformed by 24.53% the S&P500.
Analysts await Neogen Corporation (NASDAQ:NEOG) to report earnings on December, 19. They expect $0.28 earnings per share, up 16.67% or $0.04 from last year’s $0.24 per share. NEOG’s profit will be $10.58 million for 56.49 P/E if the $0.28 EPS becomes a reality. After $0.26 actual earnings per share reported by Neogen Corporation for the previous quarter, Wall Street now forecasts 7.69% EPS growth.
Neogen Corporation (NASDAQ:NEOG) Ratings Coverage
Out of 2 analysts covering Neogen (NASDAQ:NEOG), 0 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 0 are positive. Neogen has been the topic of 3 analyst reports since August 26, 2015 according to StockzIntelligence Inc. The stock of Neogen Corporation (NASDAQ:NEOG) earned “Buy” rating by Zacks on Wednesday, August 26. The firm has “Hold” rating given on Tuesday, September 22 by Zacks. On Tuesday, December 22 the stock rating was downgraded by Craig Hallum to “Hold”.
According to Zacks Investment Research, “Neogen Corporation develops, manufactures, and markets a diverse line of products dedicated to food and animal safety. The company’s food safety segment consists primarily of diagnostic test kits and related products, including dehydrated culture media, marketed to food producers and processors to aid in the detection of foodborne bacteria, natural toxins, food allergens, drug residues, pesticide residues, plant disease infections and levels of general sanitation.”
Insitutional Activity: The institutional sentiment decreased to 0.86 in Q2 2016. Its down 0.09, from 0.95 in 2016Q1. The ratio dived, as 14 funds sold all Neogen Corporation shares owned while 64 reduced positions. 15 funds bought stakes while 59 increased positions. They now own 32.41 million shares or 0.83% less from 32.68 million shares in 2016Q1.
Neuberger Berman Grp Ltd Liability Corp owns 478,934 shares or 0.04% of their US portfolio. Sheets Smith Wealth reported 4,125 shares or 0.07% of all its holdings. North Point Portfolio Managers Corp Oh holds 2.31% or 209,074 shares in its portfolio. First Tru Advsrs L P holds 15,296 shares or 0% of its portfolio. Private Trust Na holds 0.65% or 44,338 shares in its portfolio. Finemark Comml Bank & owns 1,469 shares or 0.01% of their US portfolio. Loomis Sayles Lp has 0.06% invested in the company for 402,734 shares. Brown Mngmt Ltd Liability holds 4.49% of its portfolio in Neogen Corporation (NASDAQ:NEOG) for 5.05 million shares. Mutual Of America Mgmt Limited Liability Company holds 47,882 shares or 0.06% of its portfolio. Bnp Paribas Arbitrage Sa holds 11,714 shares or 0% of its portfolio. Capstone Asset Management has 0.02% invested in the company for 14,126 shares. Clean Yield Group Incorporated owns 5,037 shares or 0.12% of their US portfolio. California Public Employees Retirement Sys has 0.01% invested in the company for 118,450 shares. Tiverton Asset Mngmt Ltd Company, a Delaware-based fund reported 224,250 shares. Raymond James Service Advsrs Inc last reported 0.01% of its portfolio in the stock.
Insider Transactions: Since July 29, 2016, the stock had 0 insider buys, and 15 sales for $8.78 million net activity. $1.12 million worth of Neogen Corporation (NASDAQ:NEOG) shares were sold by BRADLEY EDWARD. The insider CALK RICHARD E JR sold 5,425 shares worth $311,764. 8,619 shares with value of $476,076 were sold by HERBERT JAMES L on Monday, August 8. 3,000 shares were sold by Quinlan Steven J., worth $173,786 on Wednesday, November 9. YEUTTER CLAYTON K also sold $265,500 worth of Neogen Corporation (NASDAQ:NEOG) on Thursday, November 10. MORRICAL TERRI A had sold 9,600 shares worth $519,706 on Wednesday, September 28. On Wednesday, August 10 the insider PARNELL JACK C sold $284,347.
More important recent Neogen Corporation (NASDAQ:NEOG) news were published by: Prnewswire.com which released: “Neogen named Commercialization Partner of the Year” on November 08, 2016, also Prnewswire.com published article titled: “Neogen selected by Scottish Gov’t for beef herd improvement program”, Seekingalpha.com published: “Neogen Corporation’s (NEOG) CEO Jim Herbert on Q4 2016 Results – Earnings Call …” on July 19, 2016. More interesting news about Neogen Corporation (NASDAQ:NEOG) was released by: Economictimes.Indiatimes.com and their article: “US-based Neogen Corporation acquires Sterling test house” with publication date: June 02, 2015.
NEOG Company Profile
Neogen Corporation, incorporated on June 30, 1981, develops, makes and markets a range of services and products dedicated to food and animal safety. The Firm operates through two divisions: Food Safety and Animal Safety. The Food Safety segment produces and markets diagnostic test kits and related products used by food producers and processors to detect harmful natural toxins, foodborne bacteria, allergens and levels of general sanitation. The Animal Safety segment is primarily engaged in the production and marketing of products dedicated to animal health, including a range of consumable products marketed to veterinarians and animal health product distributors. The Animal Safety segment also provides genetic identification services. Additionally, the Animal Safety segment produces and markets rodenticides, disinfectants and insecticides to assist in the control of rodents and disease in and around agricultural, food production and other facilities. The Firm is involved in environmental remediation and monitoring activities at its Randolph, Wisconsin manufacturing facility.
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