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.
Headquartered in Lansing, Michigan, Neogen Corporation (NASDAQ: NEOG) is a prominent player in the global food and animal safety sectors. The company develops, manufactures, and markets comprehensive solutions designed to ensure the safety and quality of food and animal products. Neogen’s vast portfolio serves a range of industries, including food processors, veterinary services, and agricultural businesses, spanning over 140 countries worldwide.
Neogen’s operations are divided into two primary segments: Food Safety and Animal Safety. The Food Safety division, which accounts for approximately 70% of the company’s post-merger sales, includes diagnostic test kits, dehydrated culture media, and other tools used to detect pathogens, allergens, drug residues, and sanitization issues in food and feed processing. In the Animal Safety segment, contributing 20% of post-merger sales, Neogen markets veterinary instruments, pharmaceuticals, disinfectants, and genomics testing for various animals, including cattle, horses, and dogs.
Neogen has robust sales in the United States, which account for 60% of its total revenue, while international markets such as Canada, Europe, Asia, and Latin America make up the remaining 40%. The company's financial stability is underscored by its innovative product lines and strategic global partnerships, promoting long-term growth and market penetration.
Recently, Neogen has made significant strides in integrating the former 3M Food Safety business. The integration process, which includes the exit of transition service agreements and the incorporation of new product lines, is progressing well. In Q2 2023, Neogen reported revenues of $229.6 million, with a slight decline compared to the previous year, primarily due to transitional costs and market conditions. However, the company has shown resilience with core growth in its Food Safety segment, particularly in Asia, and easing destocking issues in its Animal Safety segment.
Neogen’s latest ventures include the launch of Neogen® Farm Fluid MAX, a dual-action disinfectant designed for challenging farm conditions, and the Neogen Molecular Detection Assay 2 – Salmonella Enteritidis/Salmonella Typhimurium, which provides rapid pathogen detection in poultry samples. The company also announced a strategic genomics partnership with Performance Food Group to enhance food traceability and quality assurance.
With a commitment to innovation and quality, Neogen Corporation continues to drive advancements in food and animal safety, contributing to global food security and public health. For investors and stakeholders, Neogen remains a reliable entity, navigating market challenges with strategic foresight and technological prowess.
Neogen (NASDAQ: NEOG) has announced it will release its fourth-quarter earnings report on Tuesday, July 30, 2024, before the market opens. A webcast and conference call will follow at 8:00 a.m. Eastern time, where executives will discuss the financial results. Interested parties can access the call by dialing (800) 836-8184 (U.S.) or +1 (646) 357-8785 (international) and requesting the Neogen Fourth Quarter 2024 Earnings Call. The live webcast will be available on Neogen's Investor Relations webpage under the 'Events & Presentations' subheading. A replay of the conference call and webcast will be available shortly after the event via the same Investor Relations webpage or by dialing (888) 660-6345 (U.S.) or +1 (646) 517-4150 (international) and using the entry code 82704.
Neogen announced the launch of its Petrifilm® Automated Feeder on June 27, 2024. This system is designed to enhance the efficiency of high-throughput food safety testing by reducing manual tasks. The feeder automates the loading and counting of Petrifilm Plates, processing up to 300 plates in 33 minutes, a significant improvement from the previous 4-hour manual process. The system integrates seamlessly with existing Petrifilm Plate Reader Advanced equipment and lab workflows, helping labs meet food safety standards more efficiently. Preliminary trials have shown a high return on investment and improved lab productivity.
Neogen (NASDAQ: NEOG) announced that its Molecular Detection System has been selected by the USDA Food Safety and Inspection Service (FSIS) as the primary method for detecting Salmonella and Listeria monocytogenes in meat, poultry, and egg products. The USDA FSIS has trusted Neogen's system for over five years due to its reliability and efficiency. The new contract also includes Listeria spp. and the Neogen Molecular Detection Assay 2 for Salmonella Enteritidis and Salmonella Typhimurium. Neogen's system utilizes LAMP technology for fast and accurate pathogen detection and can conduct up to 96 tests simultaneously across various sample types. This recognition underscores Neogen's commitment to global food security.
Neogen has launched CelluSmart technology through Megazyme for measuring cellulosic ethanol in biofuel production. This innovation improves upon the NREL procedure with a yeast-degrading cocktail, enhancing the production of low-carbon fuels. Cellulosic ethanol can reduce greenhouse gas emissions by 60% compared to petroleum-based fuels, promoting progress toward climate goals. CelluSmart technology can help ethanol producers lower carbon intensity scores, potentially opening new markets such as sustainable aviation fuel. The technology is incorporated into ASTM Method E-3417-24, fulfilling EPA's approval requirements for a method from a voluntary consensus standards body.
Neogen (NASDAQ: NEOG), a leader in food safety solutions, announced its participation in the Goldman Sachs 45th Annual Global Healthcare Conference. This event will take place in Miami, Florida, on June 12, 2024. The company's involvement in such a prestigious event highlights its standing in the healthcare sector and offers an opportunity to present its latest innovations and business strategies to a global audience.
Neogen (NASDAQ: NEOG) announced its participation in the 44th Annual William Blair Growth Stock Conference on June 4, 2024, in Chicago, Illinois. John Adent, the company's President and CEO, will present at 8:00 a.m. Central Time. The presentation materials will be available on Neogen's Investor Relations website on the same day. Investors and interested parties can access the webcast and materials through the Events & Presentations section at neogen.com/investor-relations/events-presentations.
Neogen (NASDAQ: NEOG) will participate in the Bank of America 2024 Health Care Conference in Las Vegas, Nevada, on May 15, 2024.
Neogen (NEOG) will participate in the 2024 RBC Capital Markets Global Healthcare Conference in New York. John Adent, the CEO, will present on May 14, 2024, at 4:05 PM Eastern Time. Investors can access the webcast and presentation materials on Neogen's Investor Relations website.
Neogen® (NASDAQ: NEOG) is celebrating 40 years of Petrifilm, a groundbreaking solution that has revolutionized microbiological testing in the food safety industry. With over 2.85 billion plates used worldwide and 105+ global validations, Petrifilm has significantly increased productivity, reduced testing time, and saved space in laboratories. Neogen remains committed to providing high-quality, innovative solutions to maintain its position as a global leader in food safety.
Neogen® introduced the Neogen Molecular Detection Assay 2 – Salmonella Enteritidis/Salmonella Typhimurium (MDA2SEST) to add to their pathogen testing platform, helping enhance food safety in the poultry industry. The new assay offers improved accuracy, reduced time to results, and a streamlined workflow. It detects specific Salmonella serotypes, aiding in reducing foodborne illness. The product has been approved by the AOAC® Research Institute, and it is part of the award-winning Neogen Molecular Detection System platform.
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