Welcome to our dedicated page for Neogen news (Ticker: NEOG), a resource for investors and traders seeking the latest updates and insights on Neogen stock.
Neogen Corporation (NASDAQ: NEOG) generates a steady flow of news related to food safety, animal safety, and global food security. As a Lansing, Michigan-based manufacturer of diagnostics and related products, Neogen regularly issues updates on its financial performance, segment trends, and strategic actions that affect the Food Safety and Animal Safety markets.
On this page, readers can follow earnings releases where Neogen reports revenue, segment performance, gross margin, and non-GAAP measures such as adjusted EBITDA. These updates often break out results for the Food Safety and Animal Safety segments, discuss core revenue trends versus divestitures and discontinued product lines, and provide commentary on product categories like pathogen detection, indicator testing, culture media, biosecurity, and genomics.
Neogen’s news flow also includes announcements about leadership changes, such as the appointment of a new President and Chief Executive Officer, Chief Financial Officer, and senior commercial and business unit leaders. Board transitions, including director retirements and new director appointments, are disclosed through both press releases and related SEC filings.
Sector-specific items appear in Neogen’s news as well, including collaborations in equine health and vaccine offerings such as BotVax B for botulism Type B in horses. The company also announces participation in investor conferences and the timing of quarterly earnings calls and webcasts.
By reviewing the NEOG news feed on this page, investors and observers can track how Neogen describes its progress in food safety, livestock, and pet health and wellness, as well as its strategic transformation efforts, restructuring actions, and capital allocation decisions over time.
NEOGEN Corporation (NASDAQ: NEOG) has acquired CAPInnoVet, Inc., a provider of pet medications, expanding its reach into the $12B+ retail parasiticide market. This strategic acquisition aims to integrate CAPInnoVet into NEOGEN's Animal Safety segment, which focuses on veterinary instruments, pharmaceuticals, and diagnostic products. The deal is expected to enhance NEOGEN's offerings and leverage synergies in the pet healthcare sector. Specific terms of the transaction remain undisclosed.
NEOGEN Corporation has launched the Reveal® Q+ test for detecting delta-9-tetrahydrocannabinol (Δ9-THC) levels in hemp plants. This innovative test provides precise THC levels from 0.1% to 1.6%, enabling hemp farmers to monitor crops on-site easily with the Raptor® Solo Integrated Analysis Platform. NEOGEN's President, John Adent, emphasized the significant benefits for farmers, allowing quicker, cost-effective testing without the need for external labs. As hemp cultivation grows in popularity post-2018 Farm Bill, this product enhances crop management and reduces risks of crop destruction due to THC exceeding legal limits.
Neogen Corporation (NASDAQ: NEOG) reported strong financial performance for Q4 and fiscal year 2021, with Q4 revenues rising 17% to $127.4 million and total revenues for the year increasing 12% to $468.5 million. Net income for Q4 was $15.8 million ($0.15 per share), and $60.9 million ($0.57 per share) for the year. Despite these gains, gross margins declined due to rising supply chain costs, and operating expenses increased by 18% in Q4. Key drivers included a robust Food Safety segment, with notable growth in microbial testing solutions and international sales. The company faces challenges from increased costs and competitive pressures.
NEOGEN Corporation announced an extension of its strategic partnership with Gencove on June 28, 2021, to enhance animal genomic testing. Initially formed in January 2020, this multi-year global agreement will enable NEOGEN to offer SkimSeek™ low-pass sequencing technology. This collaboration aims to deliver increased genomics data accuracy and flexibility for customers in the agricultural sector, particularly in bovine, canine, poultry, and swine industries. The partnership underscores NEOGEN's commitment to innovative genomics solutions for agricultural professionals.
NEOGEN Corporation (NASDAQ: NEOG) has announced a partnership with the Center for Aquaculture Technologies (CAT) to enhance genotyping services for aquaculture producers. This collaboration aims to leverage advanced sequencing and genotyping technologies to improve selection accuracy and performance in breeding programs. NEOGEN's President, John Adent, emphasized the role of this partnership in strengthening the global food chain. The companies have previously cooperated on cost-effective genomic solutions, including the GeneSeek 50K Genomic Profiler for key aquaculture species.
NEOGEN Corporation's Soleris Direct Yeast and Mold test has secured the Performance Tested Methods Certification from the AOAC Research Institute for assessing yeasts and molds in dried cannabis flower. This certification enhances the test's existing approvals for various food products. NEOGEN's President and CEO, John Adent, highlighted the test's role in addressing safety concerns within the cannabis industry. The Soleris system utilizes an automated optical process to detect microbial contamination swiftly, ensuring product safety across food and personal care sectors.
NEOGEN Corporation (Nasdaq: NEOG) has received initial expedited registration from the U.S. EPA for its NEOGEN® Viroxide Super™ disinfectant, aimed at combating the spread of COVID-19. This peroxygen-based disinfectant is effective against various viruses and bacteria, including Staphylococcus aureus and canine parvovirus. Designed for diverse applications, it offers a simple preparation process with a color change indicating readiness. NEOGEN's broader suite of biosecurity products also supports disease prevention efforts across agricultural markets.
NEOGEN Corporation (NASDAQ: NEOG) announced a two-for-one stock split, approved by its Board of Directors. This will enable each shareholder of record on May 26, 2021, to receive an additional share for each share held, with new shares distributed on June 4, 2021. Currently, NEOGEN has about 53.7 million shares outstanding, which will increase to approximately 107.4 million following the split. This marks the company's sixth stock split in its 39-year history, highlighting the Board's confidence in NEOGEN's long-term growth and enhancing stock liquidity for investors.
NEOGEN Corporation (NASDAQ: NEOG) has launched the enhanced AccuPoint® Advanced sanitation monitoring system, designed for user-friendly operation and improved result analysis. This new generation system features a modern handheld device with an ergonomic design, Wi-Fi connectivity for secure data transfer, and a photodiode multiplier lens for precise measurements. The AccuPoint Advanced NG is the only system that utilizes a flat tip sampler for effective ATP recovery and incorporates RFID technology for efficient testing. This system is recognized as a gold standard in sanitation monitoring within food production facilities.
NEOGEN Corporation (NASDAQ: NEOG) has launched its NEOGEN Analytics environmental monitoring program (EMP) for food and beverage manufacturers, offering a full year of service at no cost. The EMP facilitates remote monitoring, automates reporting, and enhances food safety compliance. This initiative is in response to increased demands for transparency in food safety, accelerated by the COVID-19 pandemic. The program aims to eliminate manual data entry errors and improve operational efficiencies, ultimately providing better resource allocation and increased customer satisfaction.