Neogen Stock (NASDAQ:NEOG), Trade Ideas

Neogen

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%.

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NEOG

STCN

Although U.S. stocks closed lower on Wednesday, there were a few notable insider trades.

Insiders Buying Rocket Companies And 2 Other Stocks

Although U.S. stocks closed mostly higher on Thursday, there were a few notable insider trades.

Insiders Buying SMART Global Holdings And 2 Other Stocks

Earnings

For the quarter ended February 2024, Neogen (NASDAQ: NEOG) reported revenue of $228.81 million, up 4.8% over the same period last year. EPS came in at $0.12, compared to $0.12 in the year-ago quarter.

Here&#39;s What Key Metrics Tell Us About Neogen (NEOG) Q3 Earnings

Neogen Corp

NeoGames SA

NeoGenomics Inc

Although U.S. stocks closed lower on Wednesday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#39;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"> Benzinga&#39;s insider transactions </a> platform.
<h3>Rocket Companies </h3>
<ul>
<li>The Trade: Rocket Companies, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rkt#NYSE">RKT</a>) Director Matthew Rizik <a href="https://www.benzinga.com/quote/RKT/analyst-ratings"> acquired a total of 1,116 shares </a> an average price of $11.69. To acquire these shares, it cost around $13,050.</li>
<li>What&rsquo;s Happening: On March 18, B of A Securities analyst Mihir Bhatia maintained Rocket Companies with an Underperform and raised the price target from $7 to $8.</li>
<li>What Rocket Companies Does: Rocket Companies is a financial services company that was originally founded as Rock Financial in 1985 and is currently based in Detroit.</li>
</ul>
<h3>Neogen </h3>
<ul>
<li>The Trade: Neogen Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/neog#NASDAQ">NEOG</a>) Chief Operating Officer Douglas Edward Jones acquired a total of 10,000 shares at an average price of $12.36. To acquire these shares, it cost around $123,590.</li>
<li>What&rsquo;s Happening: On April 9, Neogen reported worse than expected third-quarter FY2024 earnings and cut 2024 guidance.</li>
<li>What Neogen Does: Neogen Corporation, headquartered in Lansing, Michigan, develops, manufactures, and markets various products for food and animal safety.</li>
</ul>
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
<h3>Steel Connect </h3>
<ul>
<li>The Trade: Steel Connect, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/stcn#NASDAQ">STCN</a>) 10% owner WF Asset Corp <a href="https://www.benzinga.com/sec/insider-trades/"> bought a total of 42,309 shares </a> at an average price of $9.22. To acquire these shares, it cost around $390,000.</li>
<li>What&rsquo;s Happening: On March 15, Steel Connect reported second-quarter revenues of $43 million.</li>
<li>What Steel Connect Does: Steel Connect Inc is a diversified holding company. The company&#39;s operating segment include Direct Marketing and Supply Chain.</li>
</ul>
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Piper Sandler analyst David Westenberg maintains Neogen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEOG#NASDAQ">NEOG</a>) with a Neutral and lowers the price target from $19 to $17.

Price Target

Analyst Ratings

Piper Sandler Maintains Neutral on Neogen, Lowers Price Target to $17

Although U.S. stocks closed mostly higher on Thursday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#39;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"> Benzinga&#39;s insider transactions </a> platform.
<h3>Lennar </h3>
<ul>
<li>The Trade: Lennar Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/len#NYSE">LEN</a>) Director Amy Banse <a href="https://www.benzinga.com/quote/LEN/analyst-ratings"> acquired a total of 2,438 shares </a> an average price of $157.00. To acquire these shares, it cost around $247,275.</li>
<li>What&rsquo;s Happening: LP Building Solutions and Lennar reported a nationwide supply agreement.</li>
<li>What Lennar Does: Lennar is one of the largest public homebuilders in the United States. The company&#39;s homebuilding operations target first-time, move-up, and active adult homebuyers mainly under the Lennar brand name.</li>
</ul>
<h3>SMART Global </h3>
<ul>
<li>The Trade: SMART Global Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sgh#NASDAQ">SGH</a>) President and CEO Mark Adams acquired a total of 10,000 shares at an average price of</li>
<li>$18.79. To acquire these shares, it cost around $187,896.</li>
<li>What&rsquo;s Happening: On April 9, The company reported quarterly earnings of 27 cents per share, beating the analyst consensus estimate of 25 cents by 8%.</li>
<li>What SMART Global Does: SMART Global Holdings Inc is a designer and manufacturer of electronic products focused on memory and computing technology areas.</li>
</ul>
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
<h3>Neogen </h3>
<ul>
<li>The Trade: Neogen Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/neog#NASDAQ">NEOG</a>) Director James C Borel <a href="https://www.benzinga.com/sec/insider-trades/"> bought a total of 7,500 shares </a> at an average price of $13.06. To acquire these shares, it cost around $97,986.</li>
<li>What&rsquo;s Happening: On April 9, Neogen reported worse than expected third-quarter FY2024 earnings and cut 2024 guidance.</li>
<li>What Neogen Does: Neogen Corporation, headquartered in Lansing, Michigan, develops, manufactures, and markets various products for food and animal safety.</li>
</ul>
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Neogen Farm Fluid MAX Disinfectant Launches Across Great Britain Livestock & Poultry Markets

For the quarter ended February 2024, Neogen (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/neog#NASDAQ">NEOG</a>) reported revenue of $228.81 million, up 4.8% over the same period last year. EPS came in at $0.12, compared to $0.12 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $229.94 million, representing a surprise of -0.49%. The company delivered an EPS surprise of -14.29%, with the consensus EPS estimate being $0.14.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company&#39;s financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock&#39;s price performance.
Here is how Neogen performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
<ul>
<li>Revenues- Food Safety: $157.75 million versus $163 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +4.1% change.</li>
<li>Revenues- Animal Safety: $71.06 million versus the three-analyst average estimate of $66.92 million. The reported number represents a year-over-year change of +6.5%.</li>
<li>Revenues- Food Safety- Culture Media &amp; Other: $81.17 million versus $82.48 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +4.1% change.</li>
<li>Revenues- Animal Safety- Life Sciences: $1.37 million versus the two-analyst average estimate of $1.55 million. The reported number represents a year-over-year change of -4.7%.</li>
<li>Revenues- Animal Safety- Animal Care &amp; Other: $10.07 million versus the two-analyst average estimate of $9.42 million.</li>
<li>Revenues- Food Safety- Rodent Control, Insect Control &amp; Disinfectants: $10.14 million versus $10.72 million estimated by two analysts on average.</li>
<li>Revenues- Animal Safety- Rodent Control, Insect Control &amp; Disinfectants: $23.06 million compared to the $22.07 million average estimate based on two analysts.</li>
<li>Revenues- Food Safety- Bacterial &amp; General Sanitation: $40.40 million compared to the $42.50 million average estimate based on two analysts. The reported number represents a change of +2.4% year over year.</li>
<li>Revenues- Food Safety- Natural Toxins, Allergens &amp; Drug Residues: $19.74 million versus $21.11 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +2.8% change.</li>
<li>Revenues- Animal Safety- Veterinary Instruments &amp; Disposables: $17.98 million compared to the $14.03 million average estimate based on two analysts. The reported number represents a change of +16.5% year over year.</li>
</ul>
Shares of Neogen have returned -11.2% over the past month versus the Zacks S&amp;P 500 composite&#39;s +1.7% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
<a href="https://www.zacks.com/stock/news/2252922/here-s-what-key-metrics-tell-us-about-neogen-neog-q3-earnings?cid=CS-BENZ-FT-fundamental_analysis|nfm-2252922">To read this article on Zacks.com click here.</a>

Here's What Key Metrics Tell Us About Neogen (NEOG) Q3 Earnings

Shares of Tilray Brands, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tlry#NASDAQ">TLRY</a>) fell sharply during Tuesday&rsquo;s session after the company missed third-quarter estimates and said it no longer expects to generate positive adjusted free <a href="https://www.benzinga.com/markets/cannabis/24/04/38160302/cannabis-giant-tilray-reports-30-yoy-increase-in-q3-net-revenue-updates-fy-2024-guidance">cash flow for the full fiscal year 2024</a>.
Tilray Brands reported financial results on Tuesday for its third quarter ended Feb. 29, 2024, revealing $188.3 million in net revenue, representing a 30% year-over-year increase. Net loss decreased to $105 million in the third quarter compared to a net loss of $1.2 billion in the prior year quarter.
Tilray Brands shares dipped 22.2% to $2.0152 on Tuesday.
Here are some other stocks moving in today&#39;s mid-day session.
<h3>Gainers</h3>
<ul>
<li>Laser Photonics Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lase#NASDAQ">LASE</a>) shares climbed 168% to $3.82 after the company announced it secured an order for its LaserTower COMPACT marking and engraving system from L3Harris Technologies.</li>
<li>BioSig Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bsgm#NASDAQ">BSGM</a>) shares surged 123% to $2.77 after jumping over 96% on Monday.</li>
<li>Mobile Global Esports Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mgam#NASDAQ">MGAM</a>) jumped 100% to $0.2440.</li>
<li>Acrivon Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/acrv#NASDAQ">ACRV</a>) climbed 62.4% to $9.60. The company announced a $130 million private placement financing.</li>
<li>Selina Hospitality PLC (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/slna#NASDAQ">SLNA</a>) gained 47% to $0.0588. Selina management reaffirmed its confidence in its strategy and highlighted alignment with shareholders through equity ownership in the company.</li>
<li>MediaCo Holding Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mdia#NASDAQ">MDIA</a>) shares jumped 37.3% to $4.15 after falling 22% on Monday. On April 4, an SEC filing showed Standard General L.P. reported a 95.2% stake in the company, as of April 1.</li>
<li>Motorsport Games Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msgm#NASDAQ">MSGM</a>) surged 34% to $2.73.</li>
<li>Rail Vision Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rvsn#NASDAQ">RVSN</a>) gained 29% to $2.02 after the company announced that it secured an order for its AI-powered Switch Yard System from a Class 1 freight rail company in North America.</li>
<li>Anghami Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/angh#NASDAQ">ANGH</a>) surged 28.5% to $1.44.</li>
<li>Biophytis S.A. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bpts#NASDAQ">BPTS</a>) rose 24.9% to $0.3959 after reporting FY23 results.</li>
<li>Syros Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/syrs#NASDAQ">SYRS</a>) climbed 21.1% to $5.45. Syros received Fast Track Designation from the FDA for tamibarotene for the treatment of newly diagnosed unfit AML with RARA gene overexpression.</li>
<li>MyMD Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mymd#NASDAQ">MYMD</a>) shares climbed 19.9% to $3.1175 after jumping 22% on Monday.</li>
<li>Assure Holdings Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ionm#NASDAQ">IONM</a>) rose 19.7% to $0.7150.</li>
<li>Anghami Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/angh#NASDAQ">ANGH</a>) gained 17.6% to $1.3190 after dipping over 3% on Monday.</li>
<li>CaliberCos Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cwd#NASDAQ">CWD</a>) gained 16.8% to $1.04.</li>
<li>MSP Recovery, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lifw#NASDAQ">LIFW</a>) rose 16% to $1.81.</li>
<li>Niu Technologies (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/niu#NASDAQ">NIU</a>) gained 14.4% to $2.06. Niu Technologies recently reported a year-over-year increase in first-quarter sales volume results.</li>
<li>TuanChe Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tc#NASDAQ">TC</a>) rose 14.4% to $2.23.</li>
<li>Taysha Gene Therapies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsha#NASDAQ">TSHA</a>) gained 14% to $3.0650 after Piper Sandler initiated coverage on the stock with an Overweight rating and a price target of $9.</li>
<li>Lyell Immunopharma, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lyel#NASDAQ">LYEL</a>) climbed 10.5% to $2.42.</li>
<li>BlackBerry Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bb#NYSE">BB</a>) gained 9% to $3.1340. The company announced a collaboration with Advanced Micro Devices, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amd#NASDAQ">AMD</a>), designed to revolutionize next-generation robotic systems by enabling new levels of low latency and jitter, as well as repeatable determinism.</li>
<li>XPeng Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xpev#NYSE">XPEV</a>) rose 8.7% to $8.02.</li>
<li>Moderna, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrna#NASDAQ">MRNA</a>) climbed 8.3% to $113.81.</li>
<li>NIO Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nio#NYSE">NIO</a>) gained 7.7% to $4.7050. NIO filed its 2023 annual report on Form 20-F.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>Vincerx Pharma, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vinc#NASDAQ">VINC</a>) shares dipped 74% to $1.2450 after the company presented preliminary Phase 1 data for VIP236 and updates on pipeline progress at the AACR Annual Meeting 2024.</li>
<li>Destiny Tech100 Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dxyz#NASDAQ">DXYZ</a>) fell 34.1% to $65.81 after jumping over 68% on Monday.</li>
<li>Eco Wave Power Global AB (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wave#NASDAQ">WAVE</a>) fell 31.6% to $2.8701. Eco Wave Power Global shares jumped 219% on Monday after the company announced that it was selected by an international energy company to conduct wave energy feasibility studies for the U.S. coastline.</li>
<li>Eco Wave Power Global AB (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wave#NASDAQ">WAVE</a>) shares fell 30.2% to $2.91. Eco Wave. Power global shares jumped 219% on Monday after the company announced that it was selected by an international energy company to conduct wave energy feasibility studies for the U.S. coastline.</li>
<li>HUB Cyber Security Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hubc#NASDAQ">HUBC</a>) fell 22.6% to $1.0399.</li>
<li>Focus Universal Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fcuv#NASDAQ">FCUV</a>) fell 20.8% to $0.2781. Focus Universal, on Monday, announced Warren Wang as Chief Strategy Officer.</li>
<li>Cognyte Software Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cgnt#NASDAQ">CGNT</a>) dipped 17.7% to $6.92 after the company reported fourth-quarter results and issued FY25 guidance.</li>
<li>Kineta, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ka#NASDAQ">KA</a>) fell 17.1% to $0.4490. Kineta reported initial clinical response data at the AACR 2024 of its ongoing Phase 1/2 VISTA-101 clinical trial.</li>
<li>VivoPower International PLC (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vvpr#NASDAQ">VVPR</a>) fell 16.5% to $4.6786. VivoPower recently announced its Tembo subsidiary has now met all the milestones to obtain the final follow-on strategic direct equity investment into Tembo, at a pre-money valuation of $120 million.</li>
<li>Team, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tisi#NYSE">TISI</a>) fell 16.4% to $6.75. Team named Pamela J. McGinnis to its Board of Directors.</li>
<li>Harmonic Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hlit#NASDAQ">HLIT</a>) declined 15.4% to $11.11 after announcing CEO succession. Harmonic said it sees first-quarter revenue of $121 million to $123 million.</li>
<li>GCT Semiconductor Holding, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gcts#NYSE">GCTS</a>) fell 15.3% to $5.93.</li>
<li>UTime Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wto#NASDAQ">WTO</a>) fell 13.2% to $0.2603. UTime shares jumped 62% on Monday after the company completed a private placement.</li>
<li>Hanryu Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hryu#NASDAQ">HRYU</a>) shares fell 12% to $0.2508 after jumping over 31% on Monday.</li>
<li>DigiAsia Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/faas#NASDAQ">FAAS</a>) fell 11.2% to $6.90 surging over 20% on Monday.</li>
<li>Binah Capital Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bcg#NASDAQ">BCG</a>) fell 10.9% to $8.42.</li>
<li>Inozyme Pharma, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/inzy#NASDAQ">INZY</a>) dipped 10.3% to $5.27. Needham analyst Joseph Stringer reiterated Inozyme Pharma with a Buy and maintained a $23 price target.</li>
<li>Guardion Health Sciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ghsi#NASDAQ">GHSI</a>) shares declined 10% to $8.01.</li>
<li>Aurora Cannabis Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/acb#NASDAQ">ACB</a>) fell 9.3% to $6.36.</li>
<li>MicroStrategy Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mstr#NASDAQ">MSTR</a>) dipped 8.3% to $1,388.07.</li>
<li>InMode Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/inmd#NASDAQ">INMD</a>) shares fell 8% to $18.20. InMode is projected to release its financial results for the first quarter before the opening bell on Thursday, May 2, 2024.</li>
<li>Neogen Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/neog#NASDAQ">NEOG</a>) shares dipped 6.2% to $13.49 after the company reported worse than expected third-quarter FY2024 earnings and cut 2024 guidance.</li>
<li>Maxeon Solar Technologies, Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/maxn#NASDAQ">MAXN</a>) fell 5.8% to $2.5699. Maxeon Solar said it sees preliminary fourth-quarter revenue of $229 million versus market estimates of $235.959 million.</li>
<li><a href="https://www.benzinga.com/money/coinbase-alternative/">Coinbase</a> Global, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/coin#NASDAQ">COIN</a>) fell 5.6% to $242.71. JMP Securities analyst Devin Ryan maintained Coinbase Glb with a Market Outperform and raised the price target from $300 to $320.</li>
<li>Comfort Systems USA, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fix#NYSE">FIX</a>) fell 5% to $306.15.</li>
</ul>
&nbsp;
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Why Tilray Brands Shares Are Trading Lower By Around 22%? Here Are Other Stocks Moving In Tuesday's Mid-Day Session

On Tuesday,&nbsp;Neogen Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEOG#NASDAQ">NEOG</a>) shares are trading lower after the company reported worse-than-expected third-quarter 2024 earnings and&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">cut 2024 guidance</a>.
The company reported sales of $228.8 million, up 4.8% year over year, missing the consensus of $230.01 million.&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38157237/neogen-announces-third-quarter-2024-results" rel="noreferrer noopener">Core revenue growth was 6.2%</a>.
Neogen&#8217;s third quarter adjusted EPS was $0.12 flat Y/Y but below the consensus of $0.14.
Gross margin was 51.1% in the third quarter of fiscal 2024, compared to 49.5% in the same quarter a year ago. This increase is primarily due to increased sales of higher-margin products in the Company&#8217;s Food Safety segment.
Third-quarter Adjusted EBITDA was $52.7 million, representing an Adjusted EBITDA Margin of 23.0%, compared to $51.3 million and a margin of 23.5% a year ago.&nbsp;
This drop in margin was primarily due to higher operating expenses compared to the prior-year period, reflecting additions to accommodate the integration of the former 3M Food Safety Division.
Guidance:&nbsp;Neogen cuts its fiscal year 2024 sales guidance to $910 million—$920 million, down from&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36555499/why-is-food-and-animal-safety-focused-neogen-stock-tumbling-today" rel="noreferrer noopener">prior guidance of $935 million—$955 million</a>&nbsp;versus the consensus of $938.16 million.
The lower guidance reflects a slower-than-anticipated recovery of order fulfillment rates, impacting the ability to meet end-market demand.&nbsp;
Neogen lowers adjusted EBITDA guidance to $210 million-$215 million versus prior guidance of $230 million-$240 million.
William Blair&nbsp;writes that the revised guidance will lower investor confidence in the company&#8217;s ability to meet its original pro forma targets, a key tenet of their bullish thesis.&nbsp;
While there are a few positives (Petrifilm seems to be leading growth and animal safety rebounded after quarters of declines), William Blair says the small miss combined with another period of lowered expectations will put the stock further in the penalty box, especially since key metrics like EBITDA are sequentially worsening rather than improving despite the high margin contributions of the 3M business.&nbsp;
While acknowledging the stock is likely stuck for a few quarters, the analyst&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/NEOG/analyst-ratings" rel="noreferrer noopener">maintains the Outperform rating</a>&nbsp;given the stock&#8217;s low valuation at 13 times the fiscal 2025 EBITDA estimate and potential for improving fundamentals in the coming quarters.
Price Action:&nbsp;NEOG shares are down 5.23% at $13.63 on the last check Tuesday.

Analyst Color

Guidance

General

Food And Animal Safety-Focused Neogen Cuts Guidance, Stock Falls

U.S. stocks traded higher this morning, with the Dow Jones index gaining over 50 points on Tuesday.
Following the market opening Tuesday, the Dow traded up 0.20% to 38,972.32 while the NASDAQ rose 0.40% to 16,319.23. The S&amp;P 500 also rose, gaining, 0.32% to 5,219.29.
Check This Out: <a href="https://www.benzinga.com/news/24/04/38159820/robinhood-to-rally-around-51-here-are-10-top-analyst-forecasts-for-tuesday"> Robinhood To Rally Around 51%? Here Are 10 Top Analyst Forecasts For Tuesday </a>
&nbsp;
<h3>Leading and Lagging Sectors</h3>
&nbsp;
Communication services shares jumped by 0.8% on Tuesday.
In trading on Tuesday, financial shares rose by just 0.1%.
&nbsp;
<h3>Top Headline</h3>
&nbsp;
Neogen Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/neog#NASDAQ">NEOG</a>) reported worse than expected third-quarter earnings and cut 2024 guidance.
Neogen posted adjusted earnings of 12 cents per share, missing market expectations of 14 cents per share. The company&rsquo;s quarterly sales came in at $228.812 million versus estimates of $230.011 million.
&nbsp;
<h3>Equities Trading UP</h3>
&nbsp;
Laser Photonics Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lase#NASDAQ">LASE</a>) shares shot up 174% to $3.9250 after the company announced it secured an order for its LaserTower COMPACT marking and engraving system from L3Harris Technologies.
Shares of Acrivon Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/acrv#NASDAQ">ACRV</a>) got a boost, surging 54% to $9.11. The company announced a $130 million private placement financing.
MediaCo Holding Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mdia#NASDAQ">MDIA</a>) shares were also up, gaining 40% to $4.22.
&nbsp;
<h3>Equities Trading DOWN</h3>
&nbsp;
Vincerx Pharma, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vinc#NASDAQ">VINC</a>) shares dropped 68% to $1.5092 after the company presented preliminary Phase 1 data for VIP236 and updates on pipeline progress at the AACR Annual Meeting 2024.
Shares of Eco Wave Power Global AB (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wave#NASDAQ">WAVE</a>) were down 30% to $2.96. Eco Wave Power Global shares jumped 219% on Monday.
HUB Cyber Security Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hubc#NASDAQ">HUBC</a>) was down, falling 18% to $1.10.
Also Check This Out:<a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38162993/bitcoin-falls-below-71-000-data-wormhole-core-among-top-losers"> Bitcoin Falls Below $71,000 Data; Wormhole, Core Among Top Losers </a>
&nbsp;
<h3>Commodities</h3>
&nbsp;
In commodity news, oil traded down 0.1% to $86.35 while gold traded up 0.9% at $2,371.40.
Silver traded up 1.1% to $28.125 on Tuesday, while copper rose 0.6% to $4.30.
&nbsp;
<h3>Euro zone</h3>
&nbsp;
European shares were mostly lower today. The eurozone&rsquo;s STOXX 600 fell 0.2%, London&rsquo;s FTSE 100 rose 0.1% while Spain&rsquo;s IBEX 35 Index fell 0.2% The German DAX fell 0.7% French CAC 40 fell 0.5% while Italy&rsquo;s FTSE MIB Index fell 0.5%.
French trade deficit shrank to &euro;5.2 billion in February 2024 versus a revised &euro;7.2 billion gap in the prior month. Retail sales in the UK gained 3.2% from a year ago in March.
&nbsp;
<h3>Asia Pacific Markets</h3>
&nbsp;
Asian markets closed mostly higher on Tuesday, with Japan&rsquo;s Nikkei 225 gaining 1.08%, Hong Kong&rsquo;s Hang Seng Index gaining 0.57%, China&rsquo;s Shanghai Composite gaining 0.05% and India&rsquo;s S&amp;P BSE Sensex falling 0.08%.
Foreign exchange reserves in Hong Kong fell to $423.6 billion in March from $425.2 billion in the prior month. Japanese machine tool orders fell 8.5% year-over-year to JPY 135,647 million in March compared to a 8% decline in the prior month, while consumer confidence index in Japan rose to 39.5 in March versus a revised reading of 39.0 in the prior month.
&nbsp;
<h3>Economics</h3>
&nbsp;
The NFIB Small Business Optimism Index declined for a third straight month to a reading of 88.5 in March, compared to market estimates of 90.2.
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38155367/jim-cramer-was-upset-at-this-hostile-takeover-but-they-fixed-the-situation-stocks-been-a"> Jim Cramer Was Upset At This Hostile Takeover, But &#39;They Fixed The Situation. Stock&#39;s Been A Horse&#39; </a>

Eurozone

Commodities

Global

Dow Gains Over 50 Points; Neogen Posts Downbeat Earnings

<h3>Gainers</h3>
<ul>
<li>Acrivon Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACRV#NASDAQ">ACRV</a>) stock moved upwards by 72.3% to $10.19 during Tuesday's pre-market session. The market value of their outstanding shares is at $230.5 million. </li>
<li>Biophytis (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BPTS#NASDAQ">BPTS</a>) stock rose 40.64% to $0.45. The market value of their outstanding shares is at $5.1 million. </li>
<li>MyMD Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYMD#NASDAQ">MYMD</a>) stock rose 33.85% to $3.44. The company's market cap stands at $7.1 million. </li>
<li>Addex Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADXN#NASDAQ">ADXN</a>) stock rose 24.48% to $27.2. The company's market cap stands at $28.8 million. </li>
<li>Brainstorm Cell (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BCLI#NASDAQ">BCLI</a>) shares rose 21.06% to $0.88. The market value of their outstanding shares is at $60.4 million. </li>
<li>Inspire Veterinary (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IVP#NASDAQ">IVP</a>) shares moved upwards by 20.64% to $0.06. The market value of their outstanding shares is at $1.7 million. As per the press release, Q4 earnings came out yesterday. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Vincerx Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VINC#NASDAQ">VINC</a>) shares declined by 64.7% to $1.69 during Tuesday's pre-market session. The market value of their outstanding shares is at $36.1 million. </li>
<li>BioSig Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BSGM#NASDAQ">BSGM</a>) stock declined by 21.96% to $0.97. The company's market cap stands at $9.0 million. </li>
<li>Neogen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEOG#NASDAQ">NEOG</a>) shares declined by 16.63% to $11.99. The market value of their outstanding shares is at $2.5 billion. As per the press release, Q3 earnings came out today. </li>
<li>Tilray Brands (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) stock decreased by 15.45% to $2.19. The market value of their outstanding shares is at $1.6 billion. As per the press release, Q3 earnings came out today. </li>
<li>YS Biopharma Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YS#NASDAQ">YS</a>) stock decreased by 15.25% to $0.75. The market value of their outstanding shares is at $140.4 million. </li>
<li>Etao International Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETAO#NASDAQ">ETAO</a>) stock fell 11.99% to $3.82. The market value of their outstanding shares is at $19.5 million. 
See Also: <a href="http://www.benzinga.com/money/best-healthcare-stocks/" title="www.benzinga.com/money/best-healthcare-stocks/">www.benzinga.com/money/best-healthcare-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ADXN

BCLI

ETAO

12 Health Care Stocks Moving In Tuesday's Pre-Market Session

U.S. stock futures were mixed this morning, with the Nasdaq futures gaining by around 0.2% on Tuesday.
Shares of Maxeon Solar Technologies, Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/maxn#NASDAQ">MAXN</a>) fell sharply in <a href="https://www.benzinga.com/quote/MAXN">today&rsquo;s pre-market trading</a>.
Maxeon Solar said it sees preliminary fourth-quarter revenue of $229 million versus market estimates of $235.959 million.
Maxeon Solar Technologies shares dipped 16.8% to $2.27 in pre-market trading.
Here are some big stocks recording losses in today&rsquo;s pre-market trading session.
<ul>
<li>Neogen Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/neog#NASDAQ">NEOG</a>) shares dipped 17% to $11.93 in pre-market trading after the company reported worse than expected third-quarter FY2024 earnings and cut 2024 guidance.</li>
<li>Tilray Brands, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tlry#NASDAQ">TLRY</a>) shares fell 12.7% to $2.26 in pre-market trading after the company missed third-quarter estimates and said it no longer expects to generate positive adjusted free cash flow for the full fiscal year 2024.</li>
<li>DigiAsia Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/faas#NASDAQ">FAAS</a>) shares dipped 9.9% to $7.00 pre-market trading after surging over 20% on Monday.</li>
<li>InMode Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/inmd#NASDAQ">INMD</a>) shares fell 9.5% to $17.91 in pre-market trading. InMode is projected to release its financial results for the first quarter before the opening bell on Thursday, May 2, 2024.</li>
<li>GCT Semiconductor Holding, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gcts#NASDAQ">GCTS</a>) shares fell 4% to $6.72 in pre-market trading after dipping 14% on Monday. GCT Semiconductor and Aramco, last week, signed an MOU to accelerate the development of the 4G and 5G ecosystem in Saudi Arabia.</li>
<li>Rocket Companies, Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rkt#NYSE">RKT</a>) shares declined 4% to $13.29 in pre-market trading after gaining around 7% on Monday.</li>
<li>ChargePoint Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/chpt#NYSE">CHPT</a>) fell 3.3% to $1.79 in pre-market trading. Goldman Sachs analyst Mark Delaney downgraded ChargePoint from Neutral to Sell and lowered the price target from $2 to $1.5.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/04/38154721/investor-optimism-improves-fear-greed-index-remains-in-greed-zone"> Investor Optimism Improves; Fear &amp; Greed Index Remains In &#39;Greed&#39; Zone </a>
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a>

CHPT

Maxeon Solar Technologies, Neogen And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session

WIIM

Neogen shares are trading lower after the company reported worse than expected Q3 FY2024 earnings and cut 2024 guidance.

Health Care

Neogen Lowers FY2024 Adjusted EBITDA Guidance To $210M-$215M Vs. Prior Guidance Of $230M-$240M

The Company is updating its full-year&nbsp;outlook&nbsp;to reflect a slower-than-anticipated recovery of order fulfillment rates, which are impacting the ability to consistently meet end-market demand. The Company continues to expect capital expenditures to be approximately&nbsp;$130 million, including approximately&nbsp;$100 million&nbsp;related specifically to the integration of the former&nbsp;3M&nbsp;Food Safety Division.

Neogen Cuts FY2024 Sales Guidance To $910M-$920M Down From Prior Guidance Of $935M-$955M And Compared To Consensus Of $938.16M

Neogen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEOG#NASDAQ">NEOG</a>) reported quarterly earnings of $0.12 per share which missed the analyst consensus estimate of $0.14 by 14.29 percent. The company reported quarterly sales of $228.812 million which missed the analyst consensus estimate of $230.011 million by 0.52 percent. This is a 4.84 percent increase over sales of $218.255 million the same period last year.

Earnings Misses

Neogen Q3 2024 Adj EPS $0.12 Misses $0.14 Estimate, Sales $228.812M Miss $230.011M Estimate

Neogen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEOG#NASDAQ">NEOG</a>) reported quarterly earnings of $0.12 per share which missed the analyst consensus estimate of $0.14 by 14.29 percent. This is unchanged from the same period last year. The company reported quarterly sales of $228.81 million which missed the analyst consensus estimate of $230.01 million by 0.52 percent. This is a 4.84 percent increase over sales of $218.25 million the same period last year.

Neogen Q3 Adjusted EPS $0.12 Misses $0.14 Estimate, Sales $228.81M Miss $230.01M Estimate

<h3>Companies Reporting Before The Bell</h3>
&bull; Tilray Brands (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) is projected to report quarterly loss at $0.05 per share on revenue of $198.62 million.
&bull; Cognyte Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGNT#NASDAQ">CGNT</a>) is likely to report quarterly loss at $0.27 per share on revenue of $80.11 million.
&bull; Neogen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEOG#NASDAQ">NEOG</a>) is estimated to report quarterly earnings at $0.14 per share on revenue of $230.01 million.
<h3>Companies Reporting After The Bell</h3>
&bull; Nauticus Robotics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KITT#NASDAQ">KITT</a>) is likely to report quarterly loss at $0.14 per share on revenue of $6.10 million.
&bull; Neuraxis (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/NRXS#AMEX">NRXS</a>) is expected to report earnings for its fourth quarter.
&bull; Greenidge Generation Hldg (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GREE#NASDAQ">GREE</a>) is likely to report earnings for its fourth quarter.
&bull; Aehr Test Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEHR#NASDAQ">AEHR</a>) is expected to report quarterly loss at $0.03 per share on revenue of $7.61 million.
&bull; SMART Glb Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGH#NASDAQ">SGH</a>) is expected to report quarterly earnings at $0.25 per share on revenue of $283.79 million.
&bull; WD-40 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDFC#NASDAQ">WDFC</a>) is likely to report quarterly earnings at $1.11 per share on revenue of $140.51 million.
&bull; Pricesmart (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSMT#NASDAQ">PSMT</a>) is likely to report quarterly earnings at $1.24 per share on revenue of $1.28 billion.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

AEHR

GREE

KITT

NRXS

PSMT

WDFC

Earnings Scheduled For April 9, 2024

The CNN Money Fear and Greed index showed further improvement in the overall market sentiment, with the index remaining in the &quot;Greed&quot; zone on Monday.
U.S. stocks closed little changed on Monday, ahead of key inflation data. Data on consumer and producer price indexes for March will be released this week.
On Monday, the rate on the benchmark 10-year Treasury note rose around 4 basis points to 4.42%.
Shares of Perion Network Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/peri#NASDAQ">PERI</a>) tumbled more than 40% on Monday after the company slashed its FY24 revenue guidance.
Most sectors on the S&amp;P 500 closed on a negative note, with energy, information technology and health care stocks recording the biggest losses on Monday. However, real estate and consumer discretionary bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 11 points to 38,892.80 on Monday. The S&amp;P 500 slipped 0.04% at 5,202.39, while the Nasdaq Composite rose 0.03% at 16,253.96 during Monday&rsquo;s session.
Investors are awaiting earnings results from SMART Global Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sgh#NASDAQ">SGH</a>), PriceSmart, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/psmt#NASDAQ">PSMT</a>) and Neogen Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/neog#NASDAQ">NEOG</a>) today.
At a current reading of 65.9, the index remained in the &quot;Greed&quot; zone on Monday, versus a prior reading of 62.3.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
&nbsp;
Read Next: <a href="https://www.benzinga.com/news/24/04/38148718/top-4-tech-telecom-stocks-that-may-crash-in-q2"> Top 4 Tech &amp; Telecom Stocks That May Crash In Q2 </a>

PERI

Investor Optimism Improves; Fear & Greed Index Remains In 'Greed' Zone

With U.S. stock futures trading slightly higher this morning on Tuesday, some of the stocks that may grab investor focus today are as follows:
Wall Street expects Neogen Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/neog#NASDAQ">NEOG</a>) to report quarterly earnings at 14 cents per share on revenue of $230.01 million before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Neogen shares gained 0.2% to close at $14.38 on Monday.
Maxeon Solar Technologies, Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/maxn#NASDAQ">MAXN</a>) said it sees preliminary fourth-quarter revenue of $229 million versus market estimates of $235.959 million. Maxeon Solar shares fell 6.6% to $2.55 in the after-hours trading session.
Analysts are expecting PriceSmart, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/psmt#NASDAQ">PSMT</a>) to post quarterly earnings at $1.25 per share on revenue of $1.28 billion. The company will release earnings after the markets close. PriceSmart shares gained 0.5% to $83.98 in the after-hours trading session.
Check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
Angi Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/angi#NASDAQ">ANGI</a>) named Jeff Kip as CEO, succeeding Joey Levin. &ldquo;Through multiple roles, Jeff Kip has been a student of the Angi business, first as CFO of IAC, then serving as CEO of Angi&rsquo;s International business for nearly eight years and most recently as President of Angi,&rdquo; said Joey Levin, CEO of IAC and Chairman of Angi. &ldquo;During his tenure with Angi, he engineered the integration of multiple different product and technology platforms across six countries, driving the International business to healthy growth with expanding margins - an inspiring blueprint for Angi&rsquo;s future.&rdquo; Angi shares gained 0.4% to $2.31 in the after-hours trading session.
Analysts expect SMART Global Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sgh#NASDAQ">SGH</a>) to post quarterly earnings at 25 cents per share on revenue of $283.79 million after the closing bell. SMART Global shares fell 0.5% to $25.72 in after-hours trading.
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38147653/top-2-real-estate-stocks-that-could-blast-off-this-month"> Top 2 Real Estate Stocks That Could Blast Off This Month </a>

ANGI

Neogen, Maxeon Solar Technologies And 3 Stocks To Watch Heading Into Tuesday

The most oversold stocks in the health care sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#39;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#39;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the <a href="https://www.benzinga.com/topic/rsi"> RSI is below 30</a>, according to <a href="https://pro.benzinga.com/"> Benzinga Pro</a>.
Here&rsquo;s the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3>Mesoblast Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meso#NASDAQ">MESO</a>)</h3>
<ul>
<li>On Jan. 19, the FDA granted Rare Pediatric Disease Designation to Mesoblast&#39;s Revascor&reg; for treating children with congenital heart disease. The company&rsquo;s stock fell around 16% over the past month and has a <a href="https://www.benzinga.com/quote/MESO">52-week low of $1.61 </a>.</li>
<li>RSI Value: 29.61</li>
<li>MESO Price Action: Shares of Mesoblast rose 1.1% to close at $1.79 on Thursday.</li>
</ul>
<h3>MultiPlan Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mpln#NYSE">MPLN</a>)</h3>
<ul>
<li>On Jan. 4, MultiPlan named Travis Dalton as President and CEO on March 1, 2024. The company&rsquo;s stock fell around 40% over the past month. It <a href="https://www.benzinga.com/quote/MPLN"> has a 52-week low </a> of $0.61.</li>
<li>RSI Value: 25.95</li>
<li>MPLN Price Action: Shares of MultiPlan closed at $1.02 on Thursday.</li>
</ul>
<h3>Neogen Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/neog#NASDAQ">NEOG</a>)</h3>
<ul>
<li>On Jan. 9, Neogen reported second-quarter FY24 sales of $229.6 million, down 0.2% Y/Y, missing the consensus of $232.87 million. Core revenue declined 0.9%. The company revised its FY24 revenue guidance to $935 million-$955 million, versus prior guidance of $955 million-$985 million and consensus of $960.65 million. The company&rsquo;s stock fell around 21% over the past month and has a 52-week <a href="https://www.benzinga.com/quote/NEOG"> low of $14.44.</a></li>
<li>RSI Value: 29.75</li>
<li>NEOG Price Action: Shares of Neogen fell 1% to close at $16.20 on Thursday.</li>
</ul>
<h3>Humana Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hum#NYSE">HUM</a>)</h3>
<ul>
<li>On Jan. 25, Humana reported a fourth-quarter adjusted EPS loss of 11 cents, a turnaround from EPS income of $1.97 a year ago, missing the consensus of 5 cents. Humana announced its initial fiscal year 2024 EPS outlook of &lsquo;approximately $14.87&rsquo; on a GAAP basis, &lsquo;and approximately $16.00&rsquo; on an adjusted basis (versus consensus of $28.91). The company&rsquo;s shares lost around 14% over the past five days. The company&rsquo;s 52-week low is $342.69.</li>
<li>RSI Value: 19.43</li>
<li>HUM Price Action: Shares of Humana fell 11.7% to close at $355.36 on Thursday.</li>
</ul>
&nbsp;
Read More: <a href="https://www.benzinga.com/news/24/01/36797052/kla-reports-q2-results-joins-visa-western-digital-and-other-big-stocks-moving-lower-in-fridays-pre-m"> KLA Reports Q2 Results, Joins Visa, Western Digital And Other Big Stocks Moving Lower In Friday&#39;s Pre-Market Session </a>

MESO

MPLN

Top 4 Health Care Stocks That May Explode This Month

Piper Sandler analyst David Westenberg maintains Neogen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEOG#NASDAQ">NEOG</a>) with a Neutral and raises the price target from $17.5 to $19.

Piper Sandler Maintains Neutral on Neogen, Raises Price Target to $19

Notable earnings before Tuesday's open

Neogen Q3 2024 Earnings Preview

Neogen Non-GAAP EPS of $0.12, revenue of $228.81M

Today, several major companies are expected to report earnings: Aehr Test Systems (AEHR), Neogen (NEOG), Pricesmart (PSMT), WD-40 Company (WDFC), S...

Options Volatility and Implied Earnings Moves Today, April 09, 2024

Neogen Corporation 2024 Q3 - Results - Earnings Call Presentation

Neogen Corporation (NEOG) Q3 2024 Earnings Call Transcript

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Neogen (NASDAQ:<a href="https://investorplace.com/stock-quotes/neog-stock-quote/">NEOG</a>) just reported results for the third quarter of 2024.<ul><li>Neogen reported earnings per share of 12 cents. This was below the analyst estimate for EPS of 14 cents.</li><li>The company reported revenue of $228.81 million.</li><li>This was 0.52% worse than the analyst estimate for revenue of $230.01 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/earning-results/2024/04/neog-stock-earnings-neogen-for-q3-of-2024/">NEOG Stock Earnings: Neogen Misses EPS, Misses Revenue for Q3 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

NEOG Stock Earnings: Neogen Misses EPS, Misses Revenue for Q3 2024

Battered By M&A Integration Issues, Neogen Has To Rebuild Investor Trust

Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on Argenx Se (ARGX – Research Report), Neogen (NEOG –...

Analysts' Opinions Are Mixed on These Healthcare Stocks: Argenx Se (ARGX), Neogen (NEOG) and Supernus Pharmaceuticals (SUPN)

Baron Health Care Fund Q1 2024 Shareholder Letter

ACLX

ARGX

AZNCF

EXAS

GPCR

ICLR

IMVT

IRTC

ISRG

LEGN

NTRA

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RGEN

SGRY

SUPN

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Press Releases

Neogen Announces Second-Quarter Earnings Release Date

Neogen to Participate in the 42nd Annual J.P. Morgan Healthcare Conference

Neogen Announces Second-Quarter 2024 Results

Neogen® Releases Provecta® Pro Flea & Tick Collar for Dogs**

Neogen® Releases SureKill® Gel Bait Pro Applicator

Neogen® Announces James Walter as Vice President, Global Operations

Neogen Announces Third-Quarter Earnings Release Date

Neogen Announces Third-Quarter 2024 Results

Neogen® Farm Fluid MAX Disinfectant Launches Across Great Britain Livestock & Poultry Markets