Neogen Corp Stock Price, News & Analysis

Neogen Corporation (NASDAQ: NEOG) has launched its upgraded Ideal® D3™ detectable needles, which are now six times more detectable than standard needles. The patent-pending D3X design features stronger side walls to reduce bending and a highly visible red extraction collar that enhances safety by making broken needles easier to retrieve. CEO John Adent emphasized that these improvements increase efficiency and food safety for production farmers. Neogen continues to support animal care with innovative solutions.

Neogen Corporation (NASDAQ: NEOG) has launched its Synergize disinfectant in Europe, the Middle East, and Africa, expanding its biosecurity products trusted in North America for over 20 years. Synergize is effective against various pathogens, including bacteria, fungi, and viruses, and is approved by regulatory bodies such as the U.S. EPA and UK DEFRA. The product will debut at the EuroTier exhibition in Hannover, Germany. Neogen aims to enhance global biosecurity measures, ensuring the safety of the food chain.

Neogen Corporation has renewed its partnership with the National FFA to support the 2023 Supervised Agricultural Experience (SAE) Grants. Under the agreement, Neogen will donate $2 for every bottle of Prozap StandGuard Pour-On sold, with a total contribution cap of $250,000. The program aims to provide $1,000 grants to FFA members, fostering agricultural education and leadership. Neogen emphasizes its commitment to supporting future leaders in agriculture, showcasing its dedication to community involvement and youth development.

Neogen Corporation (NASDAQ: NEOG) has launched K-Blue Luminescent ONE, a ready-to-use chemiluminescent substrate that enhances efficiency in immunoassay production. This innovative substrate simplifies workflows by eliminating mixing errors and reducing plastic waste, with high sensitivity from nanograms to picograms. K-Blue Luminescent ONE complies with strict regulatory standards and is developed under an ISO 9001-certified system, ensuring excellent consistency. With 30 years of experience in ELISA tests, Neogen continues to provide reliable solutions in food and animal safety.

Neogen Corporation (NASDAQ: NEOG) announced the AOAC International's acceptance of its Megazyme Rapid Integrated Total Dietary Fiber (RINTDF) method as the Standard Method 2022.01. This method offers accurate measurement of all dietary fiber types, including soluble and insoluble fiber. Neogen's President and CEO, John Adent, expressed the significance of this accreditation for food safety and quality standardization. The RINTDF method integrates features from several previous AOAC methods and aligns with the CODEX Alimentarius dietary fiber definition used globally.

Neogen Corporation has launched COMPANION™ RTU, a ready-to-use disinfectant aimed at improving biosecurity in veterinary settings. This formulation simplifies the sanitization process as it requires no mixing, ensuring accurate concentration and saving time for animal health providers. COMPANION RTU effectively eliminates various pathogens, including those causing Canine Parvovirus and COVID-19. The product is suitable for use in a range of environments and does not damage surfaces or equipment. This addition enhances Neogen's comprehensive biosecurity offerings.

Neogen Corporation (NASDAQ: NEOG) has launched the Encompass™ platform to enhance genomic data management for beef and dairy producers. This new platform, developed in collaboration with IYOTAH Solutions, integrates genomic data with herd management software, providing Igenity customers with improved data visualization and decision-making capabilities. Neogen aims to drive sustainable animal protein production through innovative solutions that streamline data management, allowing producers to identify actionable opportunities and reduce inefficiencies.

Neogen Corporation has announced the retirement of Steve Quinlan as Chief Financial Officer effective May 31, 2023. Quinlan, who has served since 2011, played a vital role in the company's growth, increasing revenue from $172.6 million in 2011 to $527 million in 2022. He will assist in the transition to new CFO David Naemura, effective January 2, 2023. Naemura brings significant public company experience, having previously served as CFO for Vontier Corporation and others, positioning him well for Neogen's future in food safety.

Neogen Corporation (NASDAQ: NEOG) reported a 3% revenue growth to $132.3 million for Q1 FY2023, with a 6% increase post-currency adjustments. The company successfully integrated 3M's Food Safety business, which closed on September 1. Net income stood at $5.2 million, affected by $13.7 million in expenses related to the acquisition, leading to a diluted EPS of $0.05. Gross margins improved to 47.0%. Revenue streams varied: Food Safety grew by 3%, while Animal Safety also increased by 3%, driven by animal care products. International sales rose by 2%, with significant growth in Brazil and the UK.