Neogen (NEOG)
Market Price (9/21/2026): $13.08 | Market Cap: $2.8 BilSector: Health Care | Industry: Health Care Supplies
Neogen (NEOG)
Market Price (9/21/2026): $13.08Market Cap: $2.8 BilSector: Health CareIndustry: Health Care Supplies
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Megatrend and thematic driversMegatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Advanced Diagnostics, and Personalized Diagnostics. | Trading close to highsDist 52W High is 0.0% Weak multi-year price returns2Y Excs Rtn is -55%, 3Y Excs Rtn is -111% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -22 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -2.5% Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 56x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 34x Stock price has recently run up significantly12M Rtn12 month market price return is 132% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.7%, Rev Chg QQuarterly Revenue Change % is -0.1% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.4% Key risksNEOG key risks include [1] the troubled integration of its 3M Food Safety acquisition, Show more. |
| Megatrend and thematic driversMegatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Advanced Diagnostics, and Personalized Diagnostics. |
| Trading close to highsDist 52W High is 0.0% |
| Weak multi-year price returns2Y Excs Rtn is -55%, 3Y Excs Rtn is -111% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -22 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -2.5% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 56x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 34x |
| Stock price has recently run up significantly12M Rtn12 month market price return is 132% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.7%, Rev Chg QQuarterly Revenue Change % is -0.1% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.4% |
| Key risksNEOG key risks include [1] the troubled integration of its 3M Food Safety acquisition, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Neogen (NEOG) stock has gained about 45% since 5/31/2026 because of the following key factors:
1. Neogen reported stronger-than-expected financial results for fiscal Q4 2026, which ended May 31, 2026. The company announced adjusted earnings per share (EPS) of $0.09, surpassing analyst consensus estimates of $0.06 by $0.03. Revenue reached $225.3 million, exceeding analyst expectations of $212.35 million. Core growth for the quarter improved to 4.3%, marking its highest rate for fiscal year 2026, with the Food Safety segment achieving a core growth of 5.8%—its best since fiscal year 2023. Additionally, gross margin increased to 47.8% from 41.2% in the prior year period, and adjusted EBITDA grew 12% year-over-year to $45.4 million. This strong performance contributed to a significant stock rally, with shares gaining +22.7% on July 30, 2026, the day following the earnings announcement.
2. The company provided an optimistic outlook and detailed strategic investment plans for fiscal year 2027. Management emphasized significant operational momentum and a commitment to disciplined execution and investment aimed at enhancing future growth and profitability. Neogen issued fiscal year 2027 guidance projecting total revenue between $880 million and $885 million and adjusted EBITDA of $180 million to $182 million. A key strategic move includes a planned 50% increase in fiscal 2027 research and development (R&D) spending, focusing on Petrifilm innovation, digital connectivity, licensed technologies, and next-generation pathogen detection. Furthermore, the company reported being on track to commence multi-quarter manufacturing transition of its Petrifilm product to the Lansing site in November 2026, with the first fully validated product expected by the end of August 2026, which was highlighted as a major derisking event.
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Neogen (NEOG) stock has gained about 45% since 5/31/2026 because of the following key factors:
1. Neogen reported stronger-than-expected financial results for fiscal Q4 2026, which ended May 31, 2026. The company announced adjusted earnings per share (EPS) of $0.09, surpassing analyst consensus estimates of $0.06 by $0.03. Revenue reached $225.3 million, exceeding analyst expectations of $212.35 million. Core growth for the quarter improved to 4.3%, marking its highest rate for fiscal year 2026, with the Food Safety segment achieving a core growth of 5.8%—its best since fiscal year 2023. Additionally, gross margin increased to 47.8% from 41.2% in the prior year period, and adjusted EBITDA grew 12% year-over-year to $45.4 million. This strong performance contributed to a significant stock rally, with shares gaining +22.7% on July 30, 2026, the day following the earnings announcement.
2. The company provided an optimistic outlook and detailed strategic investment plans for fiscal year 2027. Management emphasized significant operational momentum and a commitment to disciplined execution and investment aimed at enhancing future growth and profitability. Neogen issued fiscal year 2027 guidance projecting total revenue between $880 million and $885 million and adjusted EBITDA of $180 million to $182 million. A key strategic move includes a planned 50% increase in fiscal 2027 research and development (R&D) spending, focusing on Petrifilm innovation, digital connectivity, licensed technologies, and next-generation pathogen detection. Furthermore, the company reported being on track to commence multi-quarter manufacturing transition of its Petrifilm product to the Lansing site in November 2026, with the first fully validated product expected by the end of August 2026, which was highlighted as a major derisking event.
3. Positive analyst upgrades and increased price targets signaled growing confidence in Neogen's trajectory. Several research firms revised their ratings and price targets, contributing to the stock's upward trend. Specifically, Wall Street Zen upgraded Neogen from a "buy" rating to a "strong-buy" rating in September 2026. Piper Sandler also upgraded the stock from "neutral" to "overweight" and raised its price objective from $13.00 to $14.00 on August 26, 2026. The average 12-month price target among analysts covering the stock is $12.00, with some individual targets reaching $14.00. These endorsements from the analytical community reinforced investor sentiment and supported the stock's appreciation.
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Stock Movement Drivers
Fundamental Drivers
The 44.9% change in NEOG stock from 5/31/2026 to 9/20/2026 was primarily driven by a 45.0% change in the company's P/S Multiple.| (LTM values as of) | 5312026 | 9202026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.97 | 13.00 | 44.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 871 | 870 | 0.0% |
| P/S Multiple | 2.2 | 3.3 | 45.0% |
| Shares Outstanding (Mil) | 218 | 218 | 0.0% |
| Cumulative Contribution | 44.9% |
Market Drivers
5/31/2026 to 9/20/2026| Return | Correlation | |
|---|---|---|
| NEOG | 44.9% | |
| Market (SPY) | 0.9% | 31.1% |
| Sector (XLV) | 12.7% | -0.6% |
Fundamental Drivers
The 15.8% change in NEOG stock from 2/28/2026 to 9/20/2026 was primarily driven by a 17.3% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 9202026 | Change |
|---|---|---|---|
| Stock Price ($) | 11.23 | 13.00 | 15.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 880 | 870 | -1.1% |
| P/S Multiple | 2.8 | 3.3 | 17.3% |
| Shares Outstanding (Mil) | 217 | 218 | -0.1% |
| Cumulative Contribution | 15.8% |
Market Drivers
2/28/2026 to 9/20/2026| Return | Correlation | |
|---|---|---|
| NEOG | 15.8% | |
| Market (SPY) | 11.6% | 40.8% |
| Sector (XLV) | 5.5% | 20.1% |
Fundamental Drivers
The 126.1% change in NEOG stock from 8/31/2025 to 9/20/2026 was primarily driven by a 133.1% change in the company's P/S Multiple.| (LTM values as of) | 8312025 | 9202026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.75 | 13.00 | 126.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 895 | 870 | -2.7% |
| P/S Multiple | 1.4 | 3.3 | 133.1% |
| Shares Outstanding (Mil) | 217 | 218 | -0.3% |
| Cumulative Contribution | 126.1% |
Market Drivers
8/31/2025 to 9/20/2026| Return | Correlation | |
|---|---|---|
| NEOG | 126.1% | |
| Market (SPY) | 19.4% | 31.9% |
| Sector (XLV) | 24.1% | 16.0% |
Fundamental Drivers
The -43.8% change in NEOG stock from 8/31/2023 to 9/20/2026 was primarily driven by a -46.6% change in the company's P/S Multiple.| (LTM values as of) | 8312023 | 9202026 | Change |
|---|---|---|---|
| Stock Price ($) | 23.12 | 13.00 | -43.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 822 | 870 | 5.8% |
| P/S Multiple | 6.1 | 3.3 | -46.6% |
| Shares Outstanding (Mil) | 217 | 218 | -0.5% |
| Cumulative Contribution | -43.8% |
Market Drivers
8/31/2023 to 9/20/2026| Return | Correlation | |
|---|---|---|
| NEOG | -43.8% | |
| Market (SPY) | 75.6% | 14.8% |
| Sector (XLV) | 32.3% | 18.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| NEOG Return | 15% | -66% | 32% | -40% | -42% | 84% | -68% |
| Peers Return | 28% | -27% | 29% | -15% | 25% | 2% | 31% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 103% |
Monthly Win Rates [3] | |||||||
| NEOG Win Rate | 50% | 17% | 58% | 42% | 33% | 67% | |
| Peers Win Rate | 62% | 40% | 57% | 43% | 47% | 49% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 44% | |
Max Drawdowns [4] | |||||||
| NEOG Max Drawdown | -19% | -76% | -39% | -43% | -66% | -28% | |
| Peers Max Drawdown | -19% | -45% | -27% | -31% | -33% | -26% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: MRK, IDXX, ZTS, ELAN, WST. See NEOG Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/18/2026 (YTD)
How Low Can It Go
| Event | NEOG | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -57.3% | -18.8% |
| % Gain to Breakeven | 134.4% | 23.1% |
| Time to Breakeven | 286 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -19.7% | -6.7% |
| % Gain to Breakeven | 24.5% | 7.1% |
| Time to Breakeven | 63 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -25.7% | -33.7% |
| % Gain to Breakeven | 34.7% | 50.9% |
| Time to Breakeven | 70 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -24.9% | -19.2% |
| % Gain to Breakeven | 33.2% | 23.8% |
| Time to Breakeven | 217 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -19.7% | -12.2% |
| % Gain to Breakeven | 24.6% | 13.9% |
| Time to Breakeven | 32 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -31.4% | -17.9% |
| % Gain to Breakeven | 45.8% | 21.8% |
| Time to Breakeven | 273 days | 123 days |
In The Past
Neogen's stock fell -57.3% during the 2025 US Tariff Shock. Such a loss loss requires a 134.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
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| Event | NEOG | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -57.3% | -18.8% |
| % Gain to Breakeven | 134.4% | 23.1% |
| Time to Breakeven | 286 days | 79 days |
| 2020 COVID-19 Crash | ||
| % Loss | -25.7% | -33.7% |
| % Gain to Breakeven | 34.7% | 50.9% |
| Time to Breakeven | 70 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -24.9% | -19.2% |
| % Gain to Breakeven | 33.2% | 23.8% |
| Time to Breakeven | 217 days | 105 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -31.4% | -17.9% |
| % Gain to Breakeven | 45.8% | 21.8% |
| Time to Breakeven | 273 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -32.2% | -53.4% |
| % Gain to Breakeven | 47.5% | 114.4% |
| Time to Breakeven | 93 days | 1085 days |
In The Past
Neogen's stock fell -57.3% during the 2025 US Tariff Shock. Such a loss loss requires a 134.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Neogen (NEOG)
Neogen Corporation is a global company dedicated to enhancing food and animal safety. It develops, manufactures, and markets a diverse range of products and services primarily through two core segments: Food Safety and Animal Safety. Its overarching goal is to help detect and prevent dangerous or unintended substances in various food sources and to support animal health and welfare.
In its Food Safety segment, Neogen provides critical diagnostic test kits and related solutions. These products are designed to identify a wide array of contaminants in food and animal feed, including foodborne pathogens, natural toxins, allergens, genetic modifications, and drug or pesticide residues. Additionally, they offer rapid sanitation tests for hygiene monitoring. Key customers for these solutions include food and feed processors, grain producers, dairies, and laboratories in industries ranging from processed foods to pharmaceuticals.
The Animal Safety segment offers a comprehensive suite of products for the animal safety market. This includes veterinary instruments, pharmaceuticals, vaccines, and a variety of cleaning, disinfecting, and pest control products to maintain sanitary conditions. Neogen also provides genomics testing services and specialized immunoassay test kits for detecting abused and therapeutic drugs in animals, with some applications extending to human forensic toxicology. These products serve a broad market, including researchers and various stakeholders in animal health and care.
AI Analysis | Feedback
Here are 1-3 brief analogies for Neogen:
- Labcorp for food safety diagnostics.
- IDEXX Laboratories for animal health, plus farm and vet supplies.
AI Analysis | Feedback
- Food & Feed Safety Diagnostic Test Kits: Kits designed to detect a wide range of dangerous or unintended substances in food and animal feed, including pathogens, allergens, and toxins.
- Rapid Sanitation Tests: Products like AccuPoint Advanced that quickly assess sanitation levels by detecting adenosine triphosphate (ATP).
- Veterinary Instruments: A variety of tools and equipment used in animal care and veterinary practices.
- Animal Pharmaceuticals & Vaccines: Medications and immunological agents for treating and preventing diseases in animals.
- Animal Hygiene & Pest Control Products: Products such as cleaners, disinfectants, insecticides, and rodenticides to maintain sanitary conditions and manage pests in animal environments.
- Animal Genomics Testing Services: Services providing genetic analysis for various animal safety and improvement applications.
- Drug Detection Test Kits: Immunoassay kits used to detect abused, therapeutic, or residual drugs in animals and for human forensic toxicology.
AI Analysis | Feedback
Based on the provided company description, Neogen Corporation primarily sells its products to other companies and organizations, rather than individuals. The background information describes various categories of business customers but does not list specific customer company names.
Neogen's major customer categories include:
- Food and Feed Processors: This broad category encompasses a wide range of businesses, including grain producers and processors, producers of various processed foods (such as cookies, crackers, candy, ice cream), meat and poultry processors, seafood processors, fruit and vegetable producers, and dairies.
- Laboratories and Producers of Related Products: This includes laboratories in general, as well as producers of pharmaceuticals, cosmetics, veterinary vaccines, and nutraceutical products that utilize Neogen's diagnostic and sanitation testing products.
- Animal Safety Market Participants: This segment serves researchers, professionals in the veterinary field, and facilities involved with farm and racing animals, for products ranging from veterinary instruments and pharmaceuticals to genomics testing and drug detection kits.
- Distributors and Retail Chains: Neogen sells its products directly to these entities, which then distribute or resell the products to end-users.
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Mike Nassif, Chief Executive Officer and President
Mike Nassif brings over two decades of global leadership experience across the healthcare, diagnostics, biopharma, and consumer goods sectors. Prior to joining Neogen, he served as Global President of Point of Care Diagnostics at Siemens Healthineers. He also held senior leadership roles at Baxter Healthcare, AB-InBev, and Johnson & Johnson, where he led business turnarounds, innovation strategies, digital transformations, and commercial operations on a global scale. Nassif was a Captain in the United States Army Corps of Engineers. He holds a Bachelor's in Civil Engineering from the United States Military Academy at West Point and an MBA in Finance from the Wharton School.
Bryan Riggsbee, Chief Financial Officer
Bryan Riggsbee has more than 25 years of financial leadership experience in the diagnostics and healthcare industries. He joined Neogen from bioMérieux, where he served as Chief Financial Officer of its North American business. Previously, he spent nearly a decade as CFO of Myriad Genetics, where he led finance, accounting, and investor relations, and helped expand the company's portfolio and international reach. His earlier career includes senior finance roles at LabCorp, GE, and KPMG. Riggsbee holds bachelor's degrees in political science from the University of North Carolina at Chapel Hill and in accounting from North Carolina State University, along with an MBA from Northwestern University's Kellogg School of Management. He is also a Certified Public Accountant (CPA).
Kevin Burke, Chief Human Resources Officer
Kevin Burke brings over two decades of global HR leadership experience across the manufacturing and life sciences sectors. Prior to Neogen, he held senior HR roles at Superior Industries, Valeo, Lear Corporation, and Dow Performance Silicones, where he led global talent management and organizational development initiatives. He holds a Bachelor of Arts in Organizational Communication, a Master's degree in Human Resources, and an MBA in General Management from Northwestern University's Kellogg School of Management.
Joe Freels, Senior Vice President and Chief Commercial Officer
Joe Freels has more than 20 years of leadership experience across diagnostics, life sciences, and global commercial operations. Before joining Neogen, he served as Senior Vice President of Global Commercial Operations at Cepheid, a Danaher Company, where he led worldwide commercial strategy and contributed to significant revenue and market share growth.
Dr. Tammi Ranalli, Senior Vice President and General Manager, Global Food Safety
Dr. Tammi Ranalli, who joined Neogen in January 2026, brings over 20 years of leadership experience across molecular and point-of-care diagnostics, product development, and global business operations. Most recently, she served as Senior Vice President of the Molecular Diagnostics and Point-of-Care Diagnostics Business Units at QuidelOrtho, managing a portfolio across infectious disease, cardiometabolic, and toxicology segments.
AI Analysis | Feedback
The key risks to Neogen Corporation (NEOG) primarily stem from its recent significant acquisition and the highly regulated and competitive nature of its operating sectors.
- Acquisition Integration Risks: Neogen faces substantial challenges related to the integration of the former 3M Food Safety business. This integration has resulted in persistent production inefficiencies, increased distribution and integration costs, and elevated inventory write-offs. The company has also recorded massive non-cash goodwill impairment charges, signifying that the acquired assets were not worth the initial valuation. These operational and financial difficulties have contributed to a decreased sales outlook and significant net losses, impacting overall profitability and financial flexibility. Furthermore, the integration process has been a subject of class-action lawsuits alleging misleading statements regarding its progress and negative financial impact.
- Intense Competition and Technological Obsolescence: Neogen operates in a dynamic and highly competitive market for both food and animal safety diagnostic solutions and genomics services. Competitors, including large multinational corporations and specialized firms, continually introduce technological advancements in rapid testing and leverage substantial research and development budgets. A failure to innovate, keep pace with emerging technologies, or effectively compete on pricing could erode Neogen's market share and profitability.
- Regulatory Changes and Product Liability: The food and animal safety industries are subject to stringent regulations. Changes in food safety standards, animal health regulations, or approval processes could significantly impact the demand for Neogen's products or require costly adaptations. Additionally, given that Neogen's products are designed to detect dangerous substances and ensure safety, there is a inherent risk of product liability claims, recalls, or reputational damage if a product fails or is alleged to cause harm. Recent events, such as a voluntary recall of a veterinary product due to microbial contamination and lawsuits alleging failure to warn about potential harm from a veterinary ointment, highlight these risks.
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Neogen Corporation (NEOG) operates in two main segments: Food Safety and Animal Safety. The company's management has provided estimates for its addressable markets within these segments.
Food Safety
Neogen estimates its addressable market for the food safety category to be approximately $5 billion globally. This segment includes products for detecting foodborne pathogens, spoilage organisms, natural toxins, food allergens, and general sanitation concerns. For broader context, the global food safety testing market was estimated at approximately USD 26.90 billion in 2025 and is projected to reach around USD 51.88 billion by 2034.
Animal Safety
For its Animal Safety segment, which encompasses veterinary instruments, pharmaceuticals, vaccines, diagnostic products, and genomics testing services, Neogen's management anticipates a Total Addressable Market (TAM) of around $6 billion globally. The global animal health market was estimated to be between USD 68.7 billion in 2025 and USD 73.10 billion in 2025, with projections to grow to approximately USD 156.0 billion by 2033 or USD 172.08 billion by 2035.
Overall Addressable Market
Combined, Neogen's management estimates its overall addressable market for food and animal safety solutions to be approximately $11 billion globally.
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Share Repurchases
- Neogen reported net repurchases of common shares amounting to USD -451.0 thousand in fiscal year 2025.
- Management has indicated openness to using proceeds from divestments for future share repurchases, alongside debt reduction.
Share Issuance
- The merger with 3M's Food Safety business, completed in September 2022, resulted in 3M shareholders receiving approximately 50.1% of the combined company, representing a significant share issuance.
- As of November 30, 2024, the company had 216,944,017 shares of Common Stock outstanding.
- Share issuance in fiscal year 2025 included exercises of options, restricted stock units (RSUs), and shares under an employee stock purchase plan.
Outbound Investments
- Neogen completed a significant merger with 3M's Food Safety business in September 2022, involving a payment of approximately $1 billion to 3M. This acquisition expanded Neogen's capabilities in food safety testing and global reach.
- In July 2025, Neogen divested its global Cleaners & Disinfectants business for $130 million, with $100 million of the net proceeds designated for debt reduction.
- Neogen announced in March 2026 its plan to divest its global animal genomics business to Zoetis for $160 million, with the net proceeds primarily intended for debt reduction.
Capital Expenditures
- Capital expenditures for fiscal year 2025 were projected at approximately $105 million, largely driven by integration activities following the 3M Food Safety acquisition.
- Capital expenditures are expected to decrease significantly to around $50 million in fiscal year 2026.
- A key focus of recent capital expenditures includes investments in R&D, sales/marketing, and essential product lines such as Petrifilm, including the establishment of a new Petrifilm production facility in Lansing, Michigan, anticipated to be fully operational by November 2026.
Peer Outperformance in Health Care Supplies
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| NEOG | Neogen | 2.2% | -358.9x | 131.7% | -32.7% | -68.8% | — |
| HAE | Haemonetics | 3.6% | 51.1x | 114.2% | 20.3% | 53.9% | +123pp |
| WST | West Pharmaceutical Services | 5.2% | 45.4x | 42.6% | -2.4% | -18.1% | +51pp |
| NVST | Envista | 3.6% | 39.8x | 11.6% | -15.3% | -43.1% | +26pp |
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Health Care Distributors | 6 | 16.2% | 43.2% | 90.1% | CAH 392% · MCK 346% · COR 168% |
| Managed Health Care | 8 | 40.4% | -5.3% | 2.3% | OSCR 84% · HQY 56% · ELV 17% |
| Health Care Services | 20 | 21.1% | 37.6% | -0.3% | HIMS 239% · RDNT 173% · DGX 76% |
| Health Care Facilities | 24 | 6.0% | 6.5% | -4.5% | NHC 271% · THC 261% · ENSG 129% |
| Health Care Equipment | 50 | -2.7% | -0.2% | -21.1% | POCI 11050% · UFPT 341% · GKOS 222% |
| Pharmaceuticals | 62 | -10.5% | 14.8% | -38.6% | LQDA 2472% · INDV 1099% · ETON 1051% |
| Health Care Supplies ← | 12 | 14.1% | -8.9% | -39.7% | LNTH 287% · HAE 54% · MMSI 20% |
| Life Sciences Tools & Services | 109 | 4.3% | -11.3% | -68.4% | SNWV 1757% · MEDP 231% · NTRA 199% |
| Health Care Technology | 21 | -25.8% | -52.6% | -79.2% | SPOK 68% · HSTM 3% · VEEV -13% |
| Biotechnology | 364 | 0.6% | -21.7% | -79.4% | CELZ 1280% · DNTH 1221% · ELVN 1069% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Neogen Stock (-9.3%): Genomics Divestiture Weighed Negatively By Market | 03/07/2026 | |
| Neogen Stock (+32%): Turnaround Thesis Ignites an Institutional Squeeze | 01/09/2026 | |
| Neogen Stock Surges 32% In A Single Day, Now Is Not The Time To Buy The Stock | 01/09/2026 | |
| Is Neogen Stock Outperforming Its Rivals? | 01/09/2026 | |
| Neogen Earnings Notes | 12/16/2025 | |
| With Neogen Stock Surging, Have You Considered The Downside? | 10/17/2025 | |
| Neogen (NEOG) Debt Comparison | 08/08/2025 | |
| Neogen (NEOG) Revenue Comparison | 08/08/2025 | |
| Neogen (NEOG) Operating Income Comparison | 08/08/2025 | |
| Neogen (NEOG) Operating Cash Flow Comparison | 08/08/2025 | |
| ARTICLES | ||
| 30 Small Cap Stocks Hit 52-Week Highs On Friday | 08/03/2026 | |
| Neogen Stock (+32%) : Food Safety Turnaround + Raised Guidance Ignites Squeeze | 01/09/2026 | |
| Neogen Stock To $7? | 01/09/2026 |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 109.14 |
| Mkt Cap | 27.7 |
| Rev LTM | 4,787 |
| Op Inc LTM | 1,091 |
| FCF LTM | 837 |
| FCF 3Y Avg | 672 |
| CFO LTM | 1,017 |
| CFO 3Y Avg | 890 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 8.3% |
| Rev Chg 3Y Avg | 5.1% |
| Rev Chg Q | 7.4% |
| QoQ Delta Rev Chg LTM | 1.8% |
| Op Inc Chg LTM | 9.4% |
| Op Inc Chg 3Y Avg | 5.7% |
| Op Mgn LTM | 16.1% |
| Op Mgn 3Y Avg | 21.9% |
| QoQ Delta Op Mgn LTM | 0.4% |
| CFO/Rev LTM | 24.9% |
| CFO/Rev 3Y Avg | 24.5% |
| FCF/Rev LTM | 18.6% |
| FCF/Rev 3Y Avg | 17.6% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Food Safety | 638 | 655 | 547 | 260 | 234 |
| Animal Safety | 257 | 269 | 276 | 267 | 234 |
| Corporate and Eliminations | 0 | 0 | |||
| Total | 895 | 924 | 822 | 527 | 468 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Animal Safety | 7 | 39 | 43 | 53 | 49 |
| Corporate and Eliminations | -83 | -63 | -66 | -33 | -8 |
| Food Safety | -986 | 82 | 60 | 39 | 34 |
| Total | -1,061 | 59 | 38 | 59 | 74 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Food Safety | 2,992 | 4,035 | 3,970 | 304 | 295 |
| Animal Safety | 323 | 343 | 339 | 307 | 244 |
| Corporate and Eliminations | 129 | 171 | 246 | 381 | 381 |
| Total | 3,444 | 4,549 | 4,554 | 993 | 920 |
Price Behavior
| Market Price | $13.00 | |
| Market Cap ($ Bil) | 2.8 | |
| First Trading Date | 02/10/1994 | |
| Distance from 52W High | 0.0% | |
| 50 Days | 200 Days | |
| DMA Price | $11.23 | $9.62 |
| DMA Trend | up | up |
| Distance from DMA | 15.7% | 35.1% |
| 3M | 1YR | |
| Volatility | 56.8% | 60.6% |
| Downside Capture | 27.49 | 65.92 |
| Upside Capture | 202.38 | 153.54 |
| Correlation (SPY) | 28.6% | 32.2% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.95 | 2.50 | 1.46 | 1.67 | 1.57 | 0.56 |
| Up Beta | -1.52 | 4.66 | 1.91 | 1.77 | 1.52 | -0.67 |
| Down Beta | 1.05 | -1.04 | 0.69 | 1.63 | 2.55 | 0.72 |
| Up Capture | 161% | 343% | 236% | 163% | 202% | 102% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 9 | 19 | 31 | 61 | 132 | 356 |
| Down Capture | 361% | 163% | 96% | 159% | 94% | 109% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 12 | 23 | 33 | 65 | 117 | 381 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NEOG | |
|---|---|---|---|---|
| NEOG | 138.9% | 60.4% | 1.65 | - |
| Sector ETF (XLV) | 24.4% | 16.1% | 1.16 | 14.9% |
| Equity (SPY) | 16.9% | 12.9% | 0.94 | 32.1% |
| Gold (GLD) | 19.1% | 29.3% | 0.60 | 10.1% |
| Commodities (DBC) | 46.3% | 20.6% | 1.73 | -10.5% |
| Real Estate (VNQ) | 4.9% | 13.6% | 0.10 | 21.1% |
| Bitcoin (BTCUSD) | -30.6% | 44.3% | -0.70 | 10.8% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NEOG | |
|---|---|---|---|---|
| NEOG | -20.3% | 50.3% | -0.28 | - |
| Sector ETF (XLV) | 6.4% | 15.2% | 0.24 | 26.2% |
| Equity (SPY) | 12.9% | 17.2% | 0.57 | 26.9% |
| Gold (GLD) | 19.1% | 18.8% | 0.83 | 6.0% |
| Commodities (DBC) | 11.2% | 19.5% | 0.45 | 1.1% |
| Real Estate (VNQ) | 1.1% | 18.8% | -0.05 | 28.7% |
| Bitcoin (BTCUSD) | 12.5% | 52.5% | 0.42 | 16.4% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NEOG | |
|---|---|---|---|---|
| NEOG | -4.7% | 42.3% | 0.03 | - |
| Sector ETF (XLV) | 10.6% | 16.7% | 0.51 | 36.4% |
| Equity (SPY) | 15.1% | 18.0% | 0.72 | 38.4% |
| Gold (GLD) | 12.1% | 16.4% | 0.61 | 4.2% |
| Commodities (DBC) | 8.3% | 18.1% | 0.37 | 8.4% |
| Real Estate (VNQ) | 4.4% | 20.7% | 0.18 | 33.1% |
| Bitcoin (BTCUSD) | 62.6% | 66.2% | 1.02 | 13.2% |
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Returns Analyses
Earnings Returns History
Updated 9/1/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/30/2026 | 22.7% | 21.3% | 24.9% |
| 4/9/2026 | -2.9% | -8.9% | -10.5% |
| 1/8/2026 | 31.6% | 27.2% | 46.3% |
| 10/9/2025 | 16.5% | 2.2% | 2.7% |
| 7/29/2025 | -10.9% | -13.7% | 3.9% |
| 4/9/2025 | -28.7% | -29.7% | -14.9% |
| 1/10/2025 | -5.4% | -11.2% | -20.3% |
| 10/10/2024 | -7.1% | -1.6% | 6.3% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 8 | 9 | 9 |
| # Negative | 16 | 15 | 15 |
| Median Positive | 2.6% | 2.2% | 6.3% |
| Median Negative | -5.2% | -5.7% | -10.4% |
| Max Positive | 31.6% | 27.2% | 46.3% |
| Max Negative | -28.7% | -29.7% | -20.3% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/30/2026 | 22.7% | 21.3% | 24.9% |
| 4/9/2026 | -2.9% | -8.9% | -10.5% |
| 1/8/2026 | 31.6% | 27.2% | 46.3% |
| 10/9/2025 | 16.5% | 2.2% | 2.7% |
| 7/29/2025 | -10.9% | -13.7% | 3.9% |
| 4/9/2025 | -28.7% | -29.7% | -14.9% |
| 1/10/2025 | -5.4% | -11.2% | -20.3% |
| 10/10/2024 | -7.1% | -1.6% | 6.3% |
| 7/30/2024 | 1.6% | -6.6% | -0.6% |
| 4/9/2024 | -9.3% | -16.5% | -13.7% |
| 1/9/2024 | -8.4% | -9.3% | -19.3% |
| 10/10/2023 | -6.8% | -5.7% | -3.4% |
| 7/27/2023 | -1.5% | 0.1% | 0.2% |
| 3/30/2023 | -5.6% | -4.7% | -6.9% |
| 1/5/2023 | 1.4% | 10.1% | 23.2% |
| 9/28/2022 | 1.1% | 0.8% | -12.7% |
| 7/27/2022 | -2.1% | -4.6% | -10.0% |
| 3/24/2022 | 0.6% | -0.6% | -8.5% |
| 12/22/2021 | -1.2% | 1.9% | -18.5% |
| 9/22/2021 | 3.5% | 6.3% | -0.0% |
| 7/21/2021 | -3.5% | -1.6% | -3.9% |
| 3/23/2021 | -0.4% | 1.7% | 11.1% |
| 12/22/2020 | -0.4% | -2.3% | 4.9% |
| 9/23/2020 | -4.9% | -1.5% | -10.4% |
| SUMMARY STATS | |||
| # Positive | 8 | 9 | 9 |
| # Negative | 16 | 15 | 15 |
| Median Positive | 2.6% | 2.2% | 6.3% |
| Median Negative | -5.2% | -5.7% | -10.4% |
| Max Positive | 31.6% | 27.2% | 46.3% |
| Max Negative | -28.7% | -29.7% | -20.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 05/31/2026 | 07/30/2026 | 10-K |
| 02/28/2026 | 04/09/2026 | 10-Q |
| 11/30/2025 | 01/08/2026 | 10-Q |
| 08/31/2025 | 10/09/2025 | 10-Q |
| 05/31/2025 | 07/30/2025 | 10-K |
| 02/28/2025 | 04/09/2025 | 10-Q |
| 11/30/2024 | 01/15/2025 | 10-Q |
| 08/31/2024 | 10/10/2024 | 10-Q |
| 05/31/2024 | 07/30/2024 | 10-K |
| 02/29/2024 | 04/09/2024 | 10-Q |
| 11/30/2023 | 01/09/2024 | 10-Q |
| 08/31/2023 | 10/10/2023 | 10-Q |
| 05/31/2023 | 08/15/2023 | 10-K |
| 02/28/2023 | 04/04/2023 | 10-Q |
| 11/30/2022 | 01/09/2023 | 10-Q |
| 08/31/2022 | 09/30/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 05/31/2026 | 07/30/2026 | 10-K |
| 02/28/2026 | 04/09/2026 | 10-Q |
| 11/30/2025 | 01/08/2026 | 10-Q |
| 08/31/2025 | 10/09/2025 | 10-Q |
| 05/31/2025 | 07/30/2025 | 10-K |
| 02/28/2025 | 04/09/2025 | 10-Q |
| 11/30/2024 | 01/15/2025 | 10-Q |
| 08/31/2024 | 10/10/2024 | 10-Q |
| 05/31/2024 | 07/30/2024 | 10-K |
| 02/29/2024 | 04/09/2024 | 10-Q |
| 11/30/2023 | 01/09/2024 | 10-Q |
| 08/31/2023 | 10/10/2023 | 10-Q |
| 05/31/2023 | 08/15/2023 | 10-K |
| 02/28/2023 | 04/04/2023 | 10-Q |
| 11/30/2022 | 01/09/2023 | 10-Q |
| 08/31/2022 | 09/30/2022 | 10-Q |
| 05/31/2022 | 07/27/2022 | 10-K |
| 02/28/2022 | 04/01/2022 | 10-Q |
| 11/30/2021 | 12/30/2021 | 10-Q |
| 08/31/2021 | 09/30/2021 | 10-Q |
| 05/31/2021 | 07/30/2021 | 10-K |
| 02/28/2021 | 03/31/2021 | 10-Q |
| 11/30/2020 | 12/29/2020 | 10-Q |
| 08/31/2020 | 09/30/2020 | 10-Q |
| 05/31/2020 | 07/30/2020 | 10-K |
| 02/29/2020 | 04/03/2020 | 10-Q |
| 11/30/2019 | 12/27/2019 | 10-Q |
| 08/31/2019 | 09/26/2019 | 10-Q |
Recent Forward Guidance
Updated 7/31/2026Latest: Q4 2026 Earnings Reported 7/30/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2027 Revenue | Reported | 207.00 Mil | 208.00 Mil | 209.00 Mil | ||||
| Q1 2027 Adjusted EBITDA | Reported | 37.00 Mil | ||||||
| 2027 Revenue | Reported | 880.00 Mil | 882.50 Mil | 885.00 Mil | 2.8% | Higher New | Actual: 858.50 Mil for 2026 | |
| 2027 Adjusted EBITDA | Reported | 180.00 Mil | 181.00 Mil | 182.00 Mil | 3.4% | Higher New | Actual: 175.00 Mil for 2026 | |
Prior: Q3 2026 Earnings Reported 4/9/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 857.00 Mil | 858.50 Mil | 860.00 Mil | 1.0% | Raised | Guidance: 850.00 Mil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 175.00 Mil | 0 | Affirmed | Guidance: 175.00 Mil for 2026 | |||
Q2 2026 Earnings Reported 1/8/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 845.00 Mil | 850.00 Mil | 855.00 Mil | 2.4% | Raised | Guidance: 830.00 Mil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 175.00 Mil | 2.9% | Raised | Guidance: 170.00 Mil for 2026 | |||
| 2026 Capital Expenditures | Reported | 50.00 Mil | 0 | Affirmed | Guidance: 50.00 Mil for 2026 | |||
Q1 2026 Earnings Reported 10/9/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 820.00 Mil | 830.00 Mil | 840.00 Mil | 0 | Affirmed | Guidance: 830.00 Mil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 165.00 Mil | 170.00 Mil | 175.00 Mil | 0 | Affirmed | Guidance: 170.00 Mil for 2026 | |
| 2026 Capital Expenditures | Reported | 50.00 Mil | 0 | Affirmed | Guidance: 50.00 Mil for 2026 | |||
Insider Activity
Updated 8/20/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Nassif, Mikheal | CEO | son | Buy | 8062026 | 11.81 | 370 | 4,370 | 12,684 | Form |
| 2 | Nassif, Mikheal | CEO | son | Buy | 2172026 | 10.94 | 23 | 252 | 7,702 | Form |
| 3 | Nassif, Mikheal | CEO | son | Buy | 2022026 | 10.00 | 24 | 240 | 6,810 | Form |
| 4 | Nassif, Mikheal | CEO | son | Buy | 2022026 | 9.86 | 25 | 246 | 6,475 | Form |
| 5 | Nassif, Mikheal | CEO | son | Buy | 1162026 | 9.33 | 137 | 1,279 | 5,900 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Nassif, Mikheal | CEO | son | Buy | 8062026 | 11.81 | 370 | 4,370 | 12,684 | Form |
| 2 | Nassif, Mikheal | CEO | son | Buy | 2172026 | 10.94 | 23 | 252 | 7,702 | Form |
| 3 | Nassif, Mikheal | CEO | son | Buy | 2022026 | 10.00 | 24 | 240 | 6,810 | Form |
| 4 | Nassif, Mikheal | CEO | son | Buy | 2022026 | 9.86 | 25 | 246 | 6,475 | Form |
| 5 | Nassif, Mikheal | CEO | son | Buy | 1162026 | 9.33 | 137 | 1,279 | 5,900 | Form |
| 6 | Nassif, Mikheal | CEO | son | Buy | 11072025 | 6.25 | 177 | 1,106 | 3,094 | Form |
Investor Activity (13F)
Updated Sep 21, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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