Stock Buzzer: Time to Reconsider Neogen Corporation After Reaching All Time High?

Stock Buzzer: Time to Reconsider Neogen Corporation After Reaching All Time High?

The stock of Neogen Corporation (NASDAQ:NEOG) reached all time high today, Nov, 24 and still has $66.10 target or 5.00% above today’s $62.95 share price. This indicates more upside for the $2.38B company. This technical setup was reported by Barchart.com. If the $66.10 PT is reached, the company will be worth $119.00 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock increased 1.50% or $0.93 on November 23, hitting $62.95. About 143,105 shares traded hands or 8.11% up from the average. Neogen Corporation (NASDAQ:NEOG) has risen 30.06% since April 22, 2016 and is uptrending. It has outperformed by 24.65% 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 $10.59M for 56.21 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 rating was downgraded by Zacks on Wednesday, August 26 to “Buy”. The stock of Neogen Corporation (NASDAQ:NEOG) has “Hold” rating given on Tuesday, September 22 by Zacks. As per Tuesday, December 22, the company rating was downgraded by Craig Hallum.

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 2016 Q2. Its down 0.09, from 0.95 in 2016Q1. The ratio fall, 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.
Wms Ltd accumulated 3.87% or 496,097 shares. Tci Wealth Advisors last reported 0% of its portfolio in the stock. Conestoga Cap Limited Liability Company accumulated 781,486 shares or 3.25% of the stock. Prudential Finance, a New Jersey-based fund reported 93,015 shares. Wesbanco Retail Bank owns 23,402 shares or 0.08% of their US portfolio. Geode Cap Management Lc last reported 0.01% of its portfolio in the stock. Finemark Bancorporation last reported 0.01% of its portfolio in the stock. Teton Inc owns 124,750 shares or 0.63% of their US portfolio. Suffolk Cap Limited Co has 56,759 shares for 0.41% of their US portfolio. Fred Alger has 0.14% invested in the company for 463,869 shares. Blackrock Inv Management last reported 0.01% of its portfolio in the stock. Us Bankshares De has 0.01% invested in the company for 36,968 shares. Ranger Investment Management Limited Partnership accumulated 1.81% or 520,866 shares. Kanaly Tru holds 0% of its portfolio in Neogen Corporation (NASDAQ:NEOG) for 59 shares. Ameriprise Financial Inc, a Minnesota-based fund reported 324,560 shares.

Insider Transactions: Since July 29, 2016, the stock had 0 insider buys, and 16 sales for $10.10 million net activity. 36,000 Neogen Corporation (NASDAQ:NEOG) shares with value of $2.20M were sold by HERBERT JAMES L. On Friday, July 29 the insider BRADLEY EDWARD sold $1.12M. 9,600 Neogen Corporation (NASDAQ:NEOG) shares with value of $519,706 were sold by MORRICAL TERRI A. Quinlan Steven J. sold $165,448 worth of stock. Another trade for 5,000 shares valued at $284,347 was made by PARNELL JACK C on Wednesday, August 10. 5,425 shares were sold by CALK RICHARD E JR, worth $311,764. YEUTTER CLAYTON K sold $265,500 worth of stock.

More 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 Equitiesfocus.com published the news titled: “Neogen Corporation (NASDAQ:NEOG) Quarterly EPS From Continuing Operations …” on November 24, 2016. Seekingalpha.com‘s news article titled: “Neogen Corporation’s (NEOG) CEO Jim Herbert on Q4 2016 Results – Earnings Call …” with publication date: July 19, 2016 was also an interesting one.

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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