Neogen Corporation (NEOG) on Focus After Forming Double Top

July 16, 2018 - By Victoria Pittman

Neogen Corporation (NASDAQ:NEOG) Logo

Investors sentiment increased to 6.71 in Q1 2018. Its up 5.22, from 1.49 in 2017Q4. It is positive, as 13 investors sold Neogen Corporation shares while 15 reduced holdings. 27 funds opened positions while 161 raised stakes. 90.94 million shares or 167.86% more from 33.95 million shares in 2017Q4 were reported.
Chemical Bankshares holds 12,149 shares. Bancorporation Of Montreal Can owns 9,973 shares for 0% of their portfolio. Wellington Grp Limited Liability Partnership owns 86,100 shares for 0% of their portfolio. North Point Managers Oh invested 2.8% of its portfolio in Neogen Corporation (NASDAQ:NEOG). Bb&T, North Carolina-based fund reported 6,757 shares. Virtu Fincl owns 0.01% invested in Neogen Corporation (NASDAQ:NEOG) for 3,529 shares. 117,451 were accumulated by Alliancebernstein Limited Partnership. Parallax Volatility Advisers Limited Partnership has 0% invested in Neogen Corporation (NASDAQ:NEOG). Fdx Advisors invested 0.01% in Neogen Corporation (NASDAQ:NEOG). Raymond James And Associate holds 0% of its portfolio in Neogen Corporation (NASDAQ:NEOG) for 4,961 shares. Kbc Grp Incorporated Nv, Belgium-based fund reported 1,380 shares. Timber Creek Cap Mgmt Lc holds 0.02% or 433 shares in its portfolio. Aperio Gru Limited, California-based fund reported 22,711 shares. Bell Bankshares stated it has 3,679 shares. Cambridge Invest Advsrs has 0.02% invested in Neogen Corporation (NASDAQ:NEOG).

Since January 26, 2018, it had 0 buys, and 16 sales for $10.42 million activity. Quinlan Steven J. sold $359,092 worth of stock or 5,000 shares. HERBERT JAMES L sold $1.37M worth of stock. 6,000 shares were sold by PAPESH G BRUCE, worth $358,320. $706,950 worth of Neogen Corporation (NASDAQ:NEOG) shares were sold by BRADLEY EDWARD. MORRICAL TERRI A sold $1.00 million worth of stock or 14,800 shares. Another trade for 6,000 shares valued at $374,818 was sold by REED THOMAS H.

The chart of Neogen Corporation (NEOG) shows a double top with $86.69 target or 7.00 % above today’s $81.02 share price. The 7 months chart pattern indicates low risk for the $4.18 billion company. It was reported on Jul, 16 by If the $86.69 price target is reached, the company will be worth $292.53 million more. Double tops are rare but powerful chart patterns.

The stock decreased 1.21% or $0.99 during the last trading session, reaching $81.02. About 136,412 shares traded. Neogen Corporation (NASDAQ:NEOG) has risen 56.69% since July 16, 2017 and is uptrending. It has outperformed by 44.12% the S&P500.

Analysts await Neogen Corporation (NASDAQ:NEOG) to report earnings on July, 17 before the open. They expect $0.30 EPS, up 25.00 % or $0.06 from last year’s $0.24 per share. NEOG’s profit will be $15.47M for 67.52 P/E if the $0.30 EPS becomes a reality. After $0.32 actual EPS reported by Neogen Corporation for the previous quarter, Wall Street now forecasts -6.25 % negative EPS growth.

Neogen Corporation, together with its subsidiaries, develops, makes, and markets various products for food and animal safety worldwide. The company has market cap of $4.18 billion. It operates through two divisions, Food Safety and Animal Safety. It has a 71.95 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.

Neogen Corporation (NASDAQ:NEOG) Institutional Positions Chart

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