NEOG Stock Summary and Trading Ideas (Neogen | NASDAQ:NEOG)

Neogen Corporation, headquartered in Lansing, Michigan, develops, manufactures, and markets various products for food and animal safety. In food safety (70% of post-merger sales), Neogen performs diagnostics to detect unintended substances in food and animal feed, such as pathogens, allergens, and drug residues, for food and feed processing companies. In animal safety (20% of post-merger sales), Neogen sells veterinary instruments, pharmaceuticals, disinfectants, and genomics tests for animals, including cattle, horses, and canines. Sales in the United States account for 60% of total revenue, while international markets, including Canada, Europe, Asia, and Latin America, account for the remaining 40%.

Neogen trades on the NASDAQ stock market under the symbol NEOG.

As of April 19, 2024, NEOG stock price declined to $11.61 with 1,692,865 million shares trading.

NEOG has a beta of 1.39, meaning it tends to be more sensitive to market movements. NEOG has a correlation of 0.14 to the broad based SPY ETF.

NEOG has a market cap of $2.51 billion. This is considered a Mid Cap stock.

Last quarter Neogen reported $229 million in Revenue and $.12 earnings per share. This fell short of revenue expectation by $-1 million and missed earnings estimates by -$.02.

In the last 3 years, NEOG stock traded as high as $48.85 and as low as $10.49.

The top ETF exchange traded funds that NEOG belongs to (by Net Assets): VTI, VB, IJH, IWM, VXF.

NEOG has underperformed the market in the last year with a price return of -28.7% while the SPY ETF gained +21.2%. NEOG has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -31.7% and -17.5%, respectively, while the SPY returned +4.3% and -3.5%, respectively.

NEOG support price is $11.61 and resistance is $12.25 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that NEOG stock will trade within this expected range on the day.