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Neogen Corp - Stock Quote NEOG

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Morningstar's Neogen Corp Stock Analysis

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Neogen's Costs Creep Up in Fiscal Q3; Our Long-Term Estimates and FVE Are Unchanged

Aaron Degagne Equity Analyst

Analyst Note

| Aaron Degagne |

Narrow-moat Neogen reported fiscal third-quarter earnings that were negatively affected by one-time merger costs and inflationary headwinds; we believe the market’s negative reaction (with shares down over 8%) is somewhat shortsighted, and we maintain our $26 fair value estimate. However, even after the stock’s precipitous decline, Neogen shares still look moderately overvalued in our view.

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Neogen Corp's Company Profile

Business Description

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 global 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%.

620 Lesher Place
Lansing, MI, 48912
T +1 517 372-9200
Sector Healthcare
Industry Diagnostics & Research
Most Recent Earnings Feb 28, 2022
Fiscal Year End May 31, 2022
Stock Type Slow Growth
Employees 1,841