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Neogen Corp

Neogen Corp

NEOG
$10.27USD↓-0.58%-0.06 today

MARKET CAP

2.2B

P/E (TTM)

36.7x

FWD P/E

33.6x

DAY RANGE

$10 – $10

52W RANGE

$5
$11

AI Summary

Stalk
StalkMedium

NEOG is in an early Stage 1 consolidation with structural repair underway, as signaled by the Bullish Pivot Point pattern. Medium-term bias is Bullish with moderate confidence, supported by rising 9/21 EMAs and a base-building structure. Short-term conditions are overbought and price is extended above the EMAs, warranting patience. Engagement should be deferred until a pullback into the rising EMA zone, respecting the potential for a Stage 2 breakout while guarding against overextension.

  • ↑Food Safety segment revenue rose 4% YoY to $156.7 M in Q3 FY26
  • ↑Adjusted EBITDA margin reached 22.8%, marking one of the highest levels in recent history
  • ↓Animal Safety segment revenue declined 8.7% YoY to $54.5 M in Q3 FY26
Full analysis →

The case for & against

Bull & Bear analysis

Bearish

Neogen Corporation (NASDAQ: NEOG) is a leader in the food safety and animal health sectors, specializing in innovative solutions for food safety diagnostics and animal health management. The company is presently focused on enhancing operational efficiencies and adapting its product offerings in the face of ongoing market challenges, particularly in the animal safety segment. Neogen operates through two main business lines: Food Safety, providing robust pathogen testing solutions, and Animal Safety, which offers diagnostic and therapeutic products for livestock. The company is amidst a strategic transformation to streamline operations and bolster its capabilities amid a challenging macroeconomic environment, making it an essential player in ensuring the safety of food supplies.

Bull says

  • ↑Food Safety segment revenue rose 4% YoY to $156.7 M in Q3 FY26
  • ↑Adjusted EBITDA margin reached 22.8%, marking one of the highest levels in recent history
  • ↑Genomics divestiture set to reduce $800 M gross debt and boost leverage profile
  • ↑New R&D scale line for Petri film expected to expand product offerings
  • ↑Analysts forecast $824.9 M revenue by 2029 with $32.50 average price target
  • ↑Strong balance sheet signals: high book-to-price ratio and positive liquidity

Bear says

  • ↓Animal Safety segment revenue declined 8.7% YoY to $54.5 M in Q3 FY26
  • ↓Negative growth and profitability factors indicate challenges sustaining returns
  • ↓$800 M gross debt raises leverage risk amid tightening credit conditions
  • ↓Fading currency tailwinds threaten near-term revenue stability
  • ↓Operational inefficiencies in sample collection weigh on margins
  • ↓Unfavorable factor scores reflect weak earnings yield and interest-rate sensitivity

Investment themes with NEOG

Health Care Equipment & Supplies↑ +0.40%

Clinical instruments and devices powering patient care

ABT · ISRG · SYK
Pets↑ +0.66%

Products and services for pet owners

CHWY · FRPT · ZTS

Earnings Call · Q3 2026 · Mgmt. Guidance

Updated 04-10-2026neutral

Transcript signals

Bull points

  • We delivered third quarter revenue of $211.2 million, representing a 0.1% increase on a core basis.
  • We continue to be optimistic about our ability to drive improvement for sample collection margins through a combination of growth and potential automation investments in the upcoming fiscal year.
  • Adjusted EBITDA was $48.2 million in the quarter, representing a margin of 22.8%, an improvement of almost 110 basis points on a sequential basis from the second quarter, despite lower revenue.

Bear points

  • supply chain disruptions within our animal safety segment had a significant impact on our results in the quarter.
  • supplier-related disruptions had a significant impact on the results in our animal safety business.
  • We faced higher scrap rates on certain sample collection products due to a quality issue at a third-party supplier, which has now been addressed.
Read full transcript analysis ›