The stock of Neogen Corporation (NASDAQ:NEOG) hit a new 52-week high and has $67.51 target or 7.00% above today’s $63.09 share price. The 6 months bullish chart indicates low risk for the $2.38B company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $67.51 price target is reached, the company will be worth $166.60 million 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 94,619 shares traded hands. Neogen Corporation (NASDAQ:NEOG) has risen 32.78% since April 25, 2016 and is uptrending. It has outperformed by 26.76% 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 $10.56M for 56.33 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 firm has “Hold” rating given on Tuesday, September 22 by Zacks. The rating was downgraded by Zacks to “Buy” on Wednesday, August 26. The rating was downgraded by Craig Hallum to “Hold” on Tuesday, December 22.
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 is negative, 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.
Arbor Cap Ltd owns 54,193 shares or 1.61% of their US portfolio. American Intll Gp holds 0% of its portfolio in Neogen Corporation (NASDAQ:NEOG) for 27,296 shares. Creative Planning holds 0% of its portfolio in Neogen Corporation (NASDAQ:NEOG) for 3,432 shares. Renaissance Technology Limited Liability Com last reported 174,200 shares in the company. Barclays Pcl holds 1,332 shares or 0% of its portfolio. Norris Perne And French Llp Mi has invested 0.14% of its portfolio in Neogen Corporation (NASDAQ:NEOG). Comml Bank Of New York Mellon Corporation owns 487,999 shares or 0.01% of their US portfolio. Raymond James Financial Advisors owns 23,716 shares or 0.01% of their US portfolio. Tiverton Asset Management Ltd Liability has 224,250 shares for 0.79% of their US portfolio. Sei Invests last reported 0% of its portfolio in the stock. The New York-based Pinebridge Ltd Partnership has invested 0.01% in Neogen Corporation (NASDAQ:NEOG). Plante Moran Advsr Lc accumulated 0.31% or 7,505 shares. The Illinois-based Ubs Asset Americas has invested 0% in Neogen Corporation (NASDAQ:NEOG). Paradigm Asset Mgmt Ltd Liability owns 4,400 shares or 0% of their US portfolio. Moreover, Schwab Charles Investment Mgmt Incorporated has 0.01% invested in Neogen Corporation (NASDAQ:NEOG) for 132,039 shares.
Insider Transactions: Since July 29, 2016, the stock had 0 insider purchases, and 16 insider sales for $10.10 million net activity. Shares for $265,500 were sold by YEUTTER CLAYTON K on Thursday, November 10. $337,361 worth of Neogen Corporation (NASDAQ:NEOG) was sold by HERBERT JAMES L on Tuesday, August 9. Quinlan Steven J. sold 3,000 shares worth $183,842. 9,600 Neogen Corporation (NASDAQ:NEOG) shares with value of $519,706 were sold by MORRICAL TERRI A. BRADLEY EDWARD also sold $1.12M worth of Neogen Corporation (NASDAQ:NEOG) shares. 5,425 shares with value of $311,764 were sold by CALK RICHARD E JR on Wednesday, August 24. PARNELL JACK C had sold 5,000 shares worth $284,347 on Wednesday, August 10.
More notable recent Neogen Corporation (NASDAQ:NEOG) news were published by: Prnewswire.com which released: “Neogen selected by Scottish Gov’t for beef herd improvement program” on October 27, 2016, also Medgadget.com with their article: “Veterinary Biochemistry Analyzers Market: Increasing incidences of disease …” published on June 07, 2016, 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) were released by: Economictimes.Indiatimes.com and their article: “US-based Neogen Corporation acquires Sterling test house” published on June 02, 2015 as well as Prnewswire.com‘s news article titled: “Neogen named Commercialization Partner of the Year” with publication date: November 08, 2016.
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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