Can Buying Neogen Corp. (NASDAQ: NEOG) Still Be Worthwhile?

Neogen Corp. (NASDAQ:NEOG) does about 2.23M shares in volume on a normal day but saw 2210152 shares change hands in Monday trading. The company now has a market cap of 3.50B USD. Its current market price is $16.15, marking an increase of 0.25% compared to the previous close of $16.11. The 52 week high reached by this stock is $24.09 whilst the lowest price level in 52 weeks is $11.46.

Neogen Corp. (NEOG) has a 20-day trading average at $14.02 and the current price is -32.97% off the 52-week high compared with 40.92% distance from its 52-week low. The 50-day simple moving average of the closing price is $13.22 and its 200-day simple moving average is $16.45. If we look at the stock’s price movements over the week, volatility stands at 6.69%, which decreases to 4.07% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 75.99 to suggest the stock is overbought.

The consensus objective for the share price is $17.00, suggesting that the stock has a potential upside of 5.0% over the period.

The company shares received a number of brokerage firm price updates over the past month, with the latest being on June 16, 2023 when Wells Fargo initiated the stock to “Overweight” and issued a price target of $22. Piper Sandler initiated its price target at $25.

Neogen Corp. (NEOG) stock is up 17.71% over the week and 29.93% over the past month. Its price is -19.69% year-to-date and -14.37% over the past year.

To reach the target analysts have set, the stock logically needs to grow 5.0 percent from here.

The company has a return on investment of 0.04% and return on equity of 0.05%. The price to earnings ratio (P/E ratio) amounts to 2243.06 while the forward price to earnings ratio is 1076.67. The beta has a value of 1.18. Price to book ratio is 1.11 and price to sales ratio is 3.76.