Will Neogen Corporation (NEOG) Run Out of Steam Soon?

March 14, 2018 - By Maria Brooks

Investors sentiment increased to 1.48 in Q3 2017. Its up 0.43, from 1.05 in 2017Q2. It improved, as 10 investors sold Neogen Corporation shares while 53 reduced holdings. 31 funds opened positions while 62 raised stakes. 33.03 million shares or 0.90% more from 32.73 million shares in 2017Q2 were reported.
Wesbanco Bancorp Inc invested in 23,000 shares. Fred Alger Mngmt stated it has 460,627 shares. Tiaa Cref Mgmt Limited Liability has invested 0.01% in Neogen Corporation (NASDAQ:NEOG). First Republic Investment Management reported 4,584 shares. Contravisory Inv Mgmt has invested 0.08% in Neogen Corporation (NASDAQ:NEOG). Ameritas Prtnrs Inc has 3,146 shares for 0.01% of their portfolio. Pinebridge Invs Lp, a New York-based fund reported 4,740 shares. Financial Bank Of America Corporation De accumulated 322,245 shares or 0% of the stock. Zebra Mgmt reported 4,072 shares stake. Invesco Ltd holds 0.01% or 212,746 shares in its portfolio. Koch Industries Incorporated stated it has 0.06% in Neogen Corporation (NASDAQ:NEOG). Azimuth Cap Ltd Liability Co has 0.07% invested in Neogen Corporation (NASDAQ:NEOG) for 11,508 shares. Barclays Public Limited Company owns 862 shares or 0% of their US portfolio. 86,240 are held by Fairfield Bush & Comm. Carnegie Cap Asset Mgmt Lc owns 93,125 shares or 0.87% of their US portfolio.

Since September 20, 2017, it had 0 buys, and 17 insider sales for $13.87 million activity. The insider BRADLEY EDWARD sold 5,401 shares worth $424,518. Another trade for 2,000 shares valued at $120,294 was sold by Quinlan Steven J.. The insider HERBERT JAMES L sold 14,513 shares worth $1.14 million. Another trade for 11,398 shares valued at $854,964 was made by MORRICAL TERRI A on Wednesday, September 27.

The stock of Neogen Corporation (NASDAQ:NEOG) reached all time high today, Mar, 14 and still has $67.56 target or 6.00 % above today’s $63.74 share price. This indicates more upside for the $3.28B company. This technical setup was reported by Barchart.com. If the $67.56 PT is reached, the company will be worth $197.04 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 0.13% or $0.08 during the last trading session, reaching $63.74. About 76,144 shares traded. Neogen Corporation (NASDAQ:NEOG) has risen 27.20% since March 14, 2017 and is uptrending. It has outperformed by 10.50% the S&P500.

Analysts await Neogen Corporation (NASDAQ:NEOG) to report earnings on March, 22 before the open. They expect $0.24 EPS, up 20.00 % or $0.04 from last year’s $0.2 per share. NEOG’s profit will be $12.37M for 66.40 P/E if the $0.24 EPS becomes a reality. After $0.33 actual EPS reported by Neogen Corporation for the previous quarter, Wall Street now forecasts -27.27 % negative EPS growth.

Neogen Corporation (NASDAQ:NEOG) Ratings Coverage

Among 4 analysts covering Neogen (NASDAQ:NEOG), 0 have Buy rating, 0 Sell and 4 Hold. Therefore 0 are positive. Neogen had 6 analyst reports since August 26, 2015 according to SRatingsIntel. Craig Hallum downgraded Neogen Corporation (NASDAQ:NEOG) on Tuesday, December 22 to “Hold” rating. Roth Capital maintained the shares of NEOG in report on Thursday, January 4 with “Hold” rating. On Wednesday, August 26 the stock rating was downgraded by Zacks to “Buy”. The firm earned “Hold” rating on Tuesday, September 22 by Zacks.

Neogen Corporation, together with its subsidiaries, develops, makes, and markets various products for food and animal safety worldwide. The company has market cap of $3.28 billion. It operates through two divisions, Food Safety and Animal Safety. It has a 63.42 P/E ratio. The Food Safety segment primarily offers diagnostic test kits and complementary to detect dangerous and/or unintended substances in human food and animal feed, such as foodborne pathogens, spoilage organisms, natural toxins, food allergens, genetic modifications, ruminant by-products, meat speciation, drug residues, pesticide residues, and general sanitation concerns; and AccuPoint Advanced rapid sanitation test for adenosine triphosphate, a chemical found in living cells.

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