Latest news with #Neogen
Business Wire
a day ago
- Business
- Business Wire
Grant & Eisenhofer Files Class Action Lawsuit Against Neogen Corporation
NEW YORK--(BUSINESS WIRE)--Today, Grant & Eisenhofer P.A. filed a class action lawsuit on behalf of Operating Engineers Construction Industry and Miscellaneous Pension Fund against Neogen Corporation ('Neogen' or the 'Company'), Neogen's CEO John Adent, and Neogen's COO & CFO David Naemura (collectively, the 'Defendants'). The action alleges that Defendants defrauded investors by making materially false and/or misleading statements and failing to disclose materially adverse facts about the Company's acquisition and subsequent integration of the Food Safety Division of 3M Corporation ('3M'). The action is brought on behalf of all persons or entities who purchased or acquired Neogen common stock from January 5, 2023 through June 3, 2025, inclusive (the 'Class Period'). The action, brought in the United States District Court for the Western District of Michigan, is captioned Operating Eng'rs Constr. Indus. & Misc. Pension Fund v. Neogen Corp., et al., No. 1:25-cv-00802 (W.D. Mich.). Neogen is a food safety company that manufactures and markets products and services dedicated to food and animal safety. The Company's products include diagnostic test kits and other products to test for dangerous substances in human and animal food. Neogen also develops and supplies pharmaceuticals and medical instruments in the veterinary market. The complaint alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. Specifically, the lawsuit alleges that throughout the Class Period, Defendants misrepresented the status of the 3M integration and failed to disclose the negative impact of integration issues on the financial health of Neogen. Defendants issued a series of materially false and misleading statements which led investors to believe that the integration was progressing smoothly. Defendants downplayed integration 'inefficiencies' and assured investors that they were fully aware and committed to resolving the issues quickly. Investors slowly learned the truth through a series of disclosures beginning on January 10, 2025. That day, the Company revealed that GAAP net income in the second quarter was significantly negative due to a $461 million non-cash goodwill impairment charge related to the 3M acquisition and cut its FY25 revenue and EBITDA guidance. Neogen also revealed that, as of November 30, 2024, the Company had material weaknesses in its internal control over financial reporting. On this news, the price of the Company's common stock declined 5% to close at $12.36 per share. In its next financial quarter, on April 9, 2025, Neogen announced that quarterly revenue fell 3.4% to $221 million due to integration issues and again cut its FY25 guidance and noted that capital expenditures were expected to be $100 million as a result of lowered adjusted EBITDA and a pull-forward of integration-related capital expenditures into FY25. Neogen also announced that CEO Adent would be stepping down. On this news, the price of the Company's common stock plummeted 28% to close at $5.02 per share, on a volume spike of 47 million shares. Finally, on June 4, 2025, Neogen revealed that it expected 'EBITDA margin to probably be around the high-teens' which represented a considerable drop from the previous quarter's profit margin of 22%. On this news, the price of the Company's common stock fell an additional 17%, to close at $4.96 per share. Investors who purchased or acquired Neogen common stock during the Class Period are members of this proposed Class and may be able to seek appointment as lead plaintiff, which is a court-appointed representative of the Class, by complying with the relevant provisions of the Private Securities Litigation Reform Act of 1995 (the 'PSLRA'). See 15 U.S.C. Section 78u-4(a)(2)(A)(i)-(iv). If you wish to serve as lead plaintiff, you must move the Court by no later than September 16, 2025. You do not need to seek to become a lead plaintiff in order to share in any possible recovery. You may also retain counsel of your choice to represent you in this action. If you wish to discuss this action or have any questions concerning this notice or your rights, please contact Karin E. Fisch at Grant & Eisenhofer at 646-722-8500, or via email at kfisch@ You can also find more information at
Yahoo
4 days ago
- Business
- Yahoo
Neogen (NEOG): A Bull Case Theory
We came across a bullish thesis on Neogen on Cornerstone Value's Substack. As of 14ᵗʰ July, Neogen's share was trading at $5.22. NEOG's forward P/E was 8.85 according to Yahoo Finance. A chemical engineer studying a lab sample of a food product for safety regulations. Neogen (NEOG) is a market-leading food safety firm that has undergone significant operational hardship due to a failed transformative merger with 3M's Food Safety Division. The company's stock price has plummeted 85% over the past three years, creating a unique investment opportunity. Neogen's core business remains intact and growing, with a comprehensive range of products that touch all nodes in the food production value chain. The company's historical performance has been impressive, with 19,000% TSR over thirty years for a 19% CAGR through 2021. The recent merger integration has been disastrous, with numerous operational challenges, including 3M's mishandling of its unit divestment, poor merger integrations, and legacy business restructuring. These issues, combined with macro headwinds such as FX and tariff-related impacts, have cast doubt on the company's ability to operate at scale. However, with the new management team and board, there are signs of a turnaround, including a strategic review of its non-core Animal Safety portfolio, which could lead to a sale of $130m in revenue. The company's valuation is attractive, with a 20x exit P/E, which is conservative compared to its historical multiples. The investment case for Neogen is highly asymmetric, with a potential for significant upside. Even in a bearish scenario, the downside appears limited, given that the business can overcome near-term merger integration hurdles. The company's growth story remains intact, with mid-single-digit core growth, which is currently obfuscated by operational and macro issues. With the alleviation of these issues, there is potential for a material re-rate in the stock. The catalysts for the investment case include growth unmasked, strategic divestment, and post-merger renormalization, making Neogen a highly researchable and well-catalyzed investment opportunity. Previously, we covered a on Illumina, Inc. by Stock Analysis Compilation in June 2025, which highlighted the company's dominance in genetic sequencing and strong long-term growth drivers. The company's stock price has appreciated by approximately 11.80% since our coverage. This is because the thesis played out. The thesis still stands as secular adoption remains intact. Cornerstone Value shares a similar outlook but emphasizes post-merger turnaround at Neogen. Neogen is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 15 hedge fund portfolios held NEOG at the end of first quarter which was 15 in the previous quarter. While we acknowledge the risk and potential of NEOG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to Blackrock. Disclosure: None. Sign in to access your portfolio
Business Upturn
12-07-2025
- Business
- Business Upturn
Neogen Chemicals board approves Rs 200 crore fundraise via NCDs
Neogen Chemicals Limited has announced that its Board of Directors approved a fundraise of up to ₹200 crore through the issuance of fully paid, secured, listed, rated, redeemable, rupee-denominated non-convertible debentures (NCDs) on a private placement basis. These NCDs will have a tenure of up to 36 months and will be listed on BSE. Interest will be paid monthly, and the issuance will be secured by a subservient charge via hypothecation and mortgage. In a related development, Neogen received a compliance notice from BSE and NSE for non-mention of Regulation 17(1A) during the re-appointment of an independent director aged over 75 years. Although the re-appointment had already been approved via a special resolution at the 34th AGM held on September 5, 2023, both exchanges levied fines amounting to ₹3,61,080 each. The company has paid the fines and initiated corrective action through a postal ballot to reaffirm shareholder approval for the director's continuation. Neogen emphasized that the matter had no operational or financial impact on the company apart from the penalties. The official filings and disclosures are available on the company's website and stock exchange portals. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Globe and Mail
08-07-2025
- Business
- Globe and Mail
Neogen Announces Fourth-Quarter Earnings Release Date
Neogen® Corporation (NASDAQ: NEOG) will issue its fourth-quarter earnings release before the opening of the market on Tuesday, July 29, 2025. Executives from the company will host a webcast and conference call later that morning, beginning at 8:00 a.m. Eastern time, to discuss the financial results. The conference call can be accessed by dialing: Toll-Free - North America: 1-800-549-8228 International: (+1) 646-564-2877 Conference ID: 65461 The live webcast can be accessed through Neogen's Investor Relations webpage, under the 'Events & Presentations' subheading. A replay of the conference call and webcast will be available shortly following the conclusion of the call and can be accessed by dialing: Toll-Free - North America: 1-877-674-7070 International: (+1) 416-764-8692 Passcode: 65461 # It will also be available on Neogen's Investor Relations website at About Neogen Neogen Corporation is committed to fueling a brighter future for global food security through the advancement of human and animal well-being. Harnessing the power of science and technology, Neogen has developed comprehensive solutions spanning the Food Safety, Livestock, and Pet Health & Wellness markets. A world leader in these fields, Neogen has a presence in over 140 countries with a dedicated network of scientists and technical experts focused on delivering optimized products and technology for its customers.
Business Wire
08-07-2025
- Business
- Business Wire
Neogen Announces Fourth-Quarter Earnings Release Date
LANSING, Mich.--(BUSINESS WIRE)--Neogen® Corporation (NASDAQ: NEOG) will issue its fourth-quarter earnings release before the opening of the market on Tuesday, July 29, 2025. Executives from the company will host a webcast and conference call later that morning, beginning at 8:00 a.m. Eastern time, to discuss the financial results. The conference call can be accessed by dialing: Toll-Free - North America: 1-800-549-8228 International: (+1) 646-564-2877 Conference ID: 65461 The live webcast can be accessed through Neogen's Investor Relations webpage, under the 'Events & Presentations' subheading. A replay of the conference call and webcast will be available shortly following the conclusion of the call and can be accessed by dialing: Toll-Free - North America: 1-877-674-7070 International: (+1) 416-764-8692 Passcode: 65461 # It will also be available on Neogen's Investor Relations website at About Neogen Neogen Corporation is committed to fueling a brighter future for global food security through the advancement of human and animal well-being. Harnessing the power of science and technology, Neogen has developed comprehensive solutions spanning the Food Safety, Livestock, and Pet Health & Wellness markets. A world leader in these fields, Neogen has a presence in over 140 countries with a dedicated network of scientists and technical experts focused on delivering optimized products and technology for its customers.
