Neogen Corp (NEOG)

Neogen's stock has experienced volatility over the past six months. Key events impacting the stock include a decline in total revenue for Q1 FY2025, and Q1 fiscal 2026 revenue of $209.19 million with a return to profitability. The company announced a cost-reduction program, including a global headcount reduction of approximately 10%. Neogen has continued to launch new products, such as the Molecular Detection Assay 2 – Quantitative Salmonella (MDA2QSAL96) and the Petrifilm® Bacillus cereus Count Plate. Shareholders re-elected nominated directors but did not approve the compensation of Neogen's named executive officers in a non-binding vote.

Neogen expects a typical seasonal pattern for its revenue, with the first quarter generally being the lowest, followed by the third quarter, then the second quarter, and the fourth quarter being the highest. The company anticipated that the first half of fiscal year 2025 would show a wider seasonality than usual due to shipment constraints experienced in the second half of fiscal year 2024. Management also noted that the second quarter is expected to see a modest sequential step-up from the first quarter's baseline revenue, based on historical seasonality.

Neogen Corporation, founded in 1982 and headquartered in Lansing, Michigan, operates within the biotechnology and diagnostics sectors, focusing on food safety and animal health diagnostics with the mission to safeguard the world's food supply. The company's core business is divided into two primary segments: Food Safety and Animal Safety. The Food Safety segment provides diagnostic test kits and products to detect dangerous substances in food and feed, including solutions for pathogens, toxins, allergens, drug residues, and sanitation concerns. The Animal Safety segment focuses on animal health diagnostics, veterinary instruments, pharmaceuticals, biosecurity solutions, and genomics testing services.

Neogen Corporation serves a diverse global customer base, including food processors, agricultural producers, veterinarians, and government agencies. The company has a worldwide commercial presence in over 40 countries, including Canada, the United States, the United Kingdom, parts of Europe, Mexico, Brazil, India, and China.

Over the past year, Neogen has focused on product innovation and strategic initiatives, which generally contribute positively to its brand reputation. The company has introduced new diagnostic solutions and expanded its product portfolio through acquisitions. The launch of new food safety testing products demonstrates its commitment to enhancing safety standards. There is no explicit information indicating any significant negative events that have affected Neogen's brand reputation in the past year.

Neogen Corporation's ownership is a mix of institutional, retail, and individual investors. Approximately 57.94% of the company's stock is owned by Institutional Investors, 0.66% by Insiders, and 41.40% by Public Companies and Individual Investors. Major institutional owners and shareholders include BlackRock, Inc., Vanguard Group Inc, Clarkston Capital Partners, LLC, Gates Capital Management, Inc., iShares Core S&P Small-Cap ETF (IJR), Southpoint Capital Advisors LP, William Blair Investment Management, Llc, Dimensional Fund Advisors Lp, Norges Bank, and State Street Corp.