Neogen Corp Stock Research

Market Summary

USD18.52+1.07

Market Closed

6.13%

NEOG Stock Price

NEOG RSI Chart

NEOG Valuation

Market Cap

4.0B

Price/Earnings (Trailing)

-246.65

Price/Sales (Trailing)

6.35

EV/EBITDA

91.26

Price/Free Cashflow

-679.89

NEOG Price/Sales (Trailing)

NEOG Profitability

EBT Margin

-0.30%

Return on Equity

-0.52%

Return on Assets

-0.36%

Free Cashflow Yield

-0.15%

NEOG Fundamentals

NEOG Revenue

Revenue (TTM)

630.7M

Revenue Y/Y

76.25%

Revenue Q/Q

73.81%

NEOG Earnings

Earnings (TTM)

-16.2M

Earnings Y/Y

-486.41%

Earnings Q/Q

-903.24%

Price Action

52 Week Range

10.4931.83

(Low)(High)

Last 7 days

1.7%

Last 30 days

0.9%

Last 90 days

21.6%

Trailing 12 Months

-39.9%

NEOG Financial Health

Current Ratio

4.22

NEOG Investor Care

Shares Dilution (1Y)

100.81%

Diluted EPS (TTM)

0.05

Peers (Alternatives to Neogen)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
DHR	183.6B	31.5B	2.72%	-13.99%	25.46	5.83	6.85%	12.06%
ABT	177.5B	43.7B	0.43%	-13.32%	25.6	4.07	1.34%	-1.95%
MDT	107.3B	30.8B	-1.78%	-26.78%	26.38	3.49	-3.19%	-17.38%
IDXX	41.5B	3.4B	6.60%	-8.59%	61.04	12.31	4.73%	-8.83%
WST	25.7B	2.9B	8.86%	-15.64%	43.82	8.89	1.95%	-11.47%
MID-CAP
PEN	10.6B	847.1M	7.86%	25.46%	-5.3K	12.54	13.32%	-137.89%
LNTH	5.7B	935.1M	12.97%	49.27%	202.4	6.08	119.91%	139.38%
NEOG	4.0B	630.7M	0.87%	-39.95%	-246.65	6.35	25.40%	-128.45%
QDEL	3.7B	-	4.25%	-20.78%	3.27	1.42	-	-
SMALL-CAP
VIVO	1.5B	301.6M	2.29%	56.91%	-550.1	4.93	-3.75%	-104.51%
CYRX	1.2B	237.3M	8.94%	-31.25%	-25.59	4.89	6.59%	84.02%
HSKA	1.0B	257.3M	14.46%	-29.40%	-50.89	3.93	1.41%	-1632.49%
AWH	45.5M	7.9M	3.13%	-64.81%	-1.47	5.78	23.02%	-7.81%
QTNT	766.7K	37.4M	-50.00%	-99.61%	-0.01	0.02	-2.49%	10.49%

Financials for Neogen

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	18.7%	631	531	527	514	503
Gross Profit	21.2%	297	245	243	236	232
Operating Expenses	35.6%	274	202	184	175	162
S&GA Expenses	17.3%	103	87.00	85.00	84.00	81.00
R&D Expenses	14.3%	20.00	18.00	17.00	17.00	17.00
EBITDA	-37.9%	43.00	69.00	84.00	85.00	-
EBITDA Margin	-47.7%	0.07*	0.13*	0.16*	0.17*	-
Earnings Before Taxes	-104.2%	-1.88	45.00	60.00	61.00	71.00
EBT Margin	-103.5%	0.00*	0.08*	0.11*	0.12*	-
Net Income	-144.5%	-16.23	36.00	48.00	49.00	57.00
Net Income Margin	-137.5%	-0.03*	0.07*	0.09*	0.10*	-
Free Cahsflow	-119.2%	-5.89	31.00	68.00	70.00	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	366.9%	4,563	977	993	981	968
Current Assets	5.8%	643	608	627	610	611
Cash Equivalents	-6.6%	100	107	44.00	43.00	51.00
Inventory	5.4%	136	129	122	113	107
Net PPE	22.4%	148	121	111	105	101
Goodwill	1415.3%	2,122	140	143	150	143
Liabilities	1456.5%	1,457	94.00	106	106	101
Current Liabilities	127.7%	153	67.00	78.00	66.00	63.00
LT Debt, Non Current	Infinity%	924	-	-	-	-
Shareholder's Equity	251.5%	3,106	884	887	876	865
Retained Earnings	-7.1%	551	593	588	573	568
Additional Paid-In Capital	718.8%	2,561	313	310	308	305
Accumulated Depreciation	-	105	-	-	-	-
Shares Outstanding	100.4%	216	108	108	108	108
Float	-	4,325	-	-	-	-

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-119.2%	-5.89	31.00	68.00	70.00	75.00
Share Based Compensation	12.1%	8.00	7.00	7.00	7.00	7.00
Cashflow From Investing	1348.2%	142	10.00	-97.23	-111	-157
Cashflow From Financing	-1271.8%	-78.16	7.00	7.00	19.00	28.00

Risks for NEOG

What is the probability of a big loss on NEOG?

63.9%

Probability that Neogen stock will be more than 20% underwater in next one year

40.8%

Probability that Neogen stock will be more than 30% underwater in next one year.

33.9%

Probability that Neogen stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does NEOG drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Neogen was unfortunately bought at previous high price.

Drawdowns

Returns for NEOG

Cumulative Returns on NEOG

4.0%

10-Year Cumulative Returns

0.1%

7-Year Cumulative Returns

-11.2%

5-Year Cumulative Returns

-17.9%

3-Year Cumulative Returns

What are the long-term rolling returns for NEOG?

FIve years rolling returns for Neogen.

Annualized Returns

Which funds bought or sold NEOG recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-23	MetLife Investment Management, LLC	added	27.06	1,038,770	3,735,710	0.03%
2023-03-17	American Portfolios Advisors	reduced	-3.17	-22,975	29,421	-%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	added	86.34	2,339,510	4,606,510	-%
2023-03-08	SHEETS SMITH WEALTH MANAGEMENT	reduced	-1.33	31,945	450,945	0.07%
2023-03-08	Capital Asset Advisory Services LLC	sold off	-100	-152,000	-	-%
2023-03-06	Rockefeller Capital Management L.P.	reduced	-93.48	-6,000	-	-%
2023-03-02	OLIVER LAGORE VANVALIN INVESTMENT GROUP	reduced	-45.85	-3,431	4,569	-%
2023-02-28	Voya Investment Management LLC	reduced	-68.16	-2,268,590	1,206,410	-%
2023-02-27	Parallax Volatility Advisers, L.P.	reduced	-98.07	-116,502	2,498	-%
2023-02-24	NATIXIS	reduced	-79.47	-133,311	36,689	-%

Latest Funds Activity

Are funds buying NEOG calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own NEOG

No. of Funds

Neogen News

Schedule 13G FIlings of Neogen

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	susquehanna securities, llc	3.8%	8,291,607	SC 13G/A
Feb 14, 2023	norges bank	8.52%	18,422,570	SC 13G/A
Feb 09, 2023	vanguard group inc	8.82%	19,057,576	SC 13G/A
Feb 08, 2023	wasatch advisors inc	-	0	SC 13G/A
Jan 23, 2023	blackrock inc.	11.3%	24,460,988	SC 13G/A
Sep 16, 2022	susquehanna securities, llc	5.4%	11,733,386	SC 13G
Sep 09, 2022	wasatch advisors inc	-	0	SC 13G/A
Sep 01, 2022	norges bank	5.79%	6,248,066	SC 13G
Feb 14, 2022	brown capital management llc	11.04%	11,899,239	SC 13G/A
Feb 11, 2022	wasatch advisors inc	-	0	SC 13G

NEOG Fair Value

Neogen fair value in different scenarios

The table shows the Fair Value estimates for Neogen for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	7.53 -59.34%	8.51 -54.05%	10.79 -41.74%	12.88 -30.45%	14.49 -21.76%
Current Inflation	7.18 -61.23%	8.01 -56.75%	9.94 -46.33%	11.69 -36.88%	13.02 -29.70%
Very High Inflation	6.75 -63.55%	7.42 -59.94%	8.95 -51.67%	10.31 -44.33%	11.34 -38.77%

Historical Neogen Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Neogen

View All Filings

Date Filed	Form Type	Document
Mar 30, 2023	8-K	Current Report
Feb 14, 2023	SC 13G/A	Major Ownership Report
Feb 14, 2023	SC 13G/A	Major Ownership Report
Feb 09, 2023	SC 13G/A	Major Ownership Report
Feb 08, 2023	SC 13G/A	Major Ownership Report
Jan 30, 2023	4	Insider Trading
Jan 23, 2023	SC 13G/A	Major Ownership Report
Jan 18, 2023	4	Insider Trading
Jan 09, 2023	10-Q	Quarterly Report
Jan 05, 2023	8-K	Current Report

Latest Insider Trading transactions for NEOG

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-01-26	BOEHM WILLIAM T	acquired	23,430	15.62	1,500	-
2023-01-26	BOEHM WILLIAM T	sold	-15,060	20.08	-750	-
2023-01-13	Jones Douglas Edward	bought	44,775	17.91	2,500	chief operating officer
2022-10-11	Quinlan Steven J.	bought	58,150	11.63	5,000	vp & cfo
2022-10-03	BOEHM WILLIAM T	bought	27,770	13.885	2,000	-
2022-09-28	ADENT JOHN EDWARD	bought	316,140	14.37	22,000	president & ceo
2022-09-28	Jones Douglas Edward	bought	100,170	14.31	7,000	chief operating officer
2022-08-16	Vetter Darci L	bought	24,013	21.83	1,100	-
2022-08-02	Green Ronald D	bought	33,750	22.5	1,500	-
2022-07-29	ADENT JOHN EDWARD	bought	403,725	23.07	17,500	president & ceo

About Neogen

John E. Adent

www.neogen.com

1840

Neogen Corporation, together with its subsidiaries, develops, manufactures, and markets various products for food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment offers diagnostic test kits and related products to detect dangerous and unintended substances in food and animal feed, including foodborne pathogens, spoilage organisms, natural toxins, food allergens, genetic modifications, ruminant by-products, meat speciation, drug residues, pesticide residues, and general sanitation concerns; and AccuPoint Advanced rapid sanitation test for adenosine triphosphate, a chemical found in living cells. This segment offers its products primarily to food and feed processors; grain producers and processors; producers of cookies, crackers, candy, ice cream, and other processed foods; meat and poultry processors, seafood processors, fruit and vegetable producers, and dairies; laboratories; and producers of pharmaceuticals, cosmetics, veterinary vaccines, and nutraceutical products. The Animal Safety segment provides veterinary instruments, pharmaceuticals, vaccines, topicals, diagnostic products, rodenticides, cleaners, disinfectants, insecticides, and genomics testing services for the animal safety market. This segment offers various products for researchers to detect biologically active substances. Its drug detection immunoassay test kits are used for the detection of abused and therapeutic drugs in farm and racing animals; detection of drug residues in meat and meat products; and human forensic toxicology drug screening applications. In addition, this segment's products are used to maintain sanitary conditions and limit the potential hazards of bacteria, fungi, and viruses. The company sells its products directly, as well as through distributors and retail chains. Neogen Corporation was incorporated in 1981 and is headquartered in Lansing, Michigan.

NEOG Income Statement

2022-11-30

Consolidated Statements of Income (Loss) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2022	Nov. 30, 2021	Nov. 30, 2022	Nov. 30, 2021
Revenues
Total Revenues	$ 230,033	$ 130,517	$ 362,382	$ 258,822
Cost of Revenues
Total Cost of Revenues	117,494	69,923	187,573	138,220
Gross Margin	112,539	60,594	174,809	120,602
Operating Expenses
Sales and marketing	36,348	21,188	59,731	41,743
General and administrative	77,001	22,605	104,945	35,988
Research and development	6,846	4,332	11,727	8,657
Total Operating Expenses	120,195	48,125	176,403	86,388
Operating Income (Loss)	(7,656)	12,469	(1,594)	34,214
Other Income (Expense)
Interest income	553	246	1,523	455
Interest expense	(20,545)	(22)	(20,547)	(28)
Other income (expense)	(6,443)	235	(6,814)	14
Total Other Income (Expense)	(26,435)	459	(25,838)	441
Income (Loss) Before Taxes	(34,091)	12,928	(27,432)	34,655
Provision for Income Taxes	7,750	2,100	9,200	6,750
Net Income (Loss)	$ (41,841)	$ 10,828	$ (36,632)	$ 27,905
Net Income (Loss) Per Share
Basic	$ (0.19)	$ 0.1	$ (0.23)	$ 0.26
Diluted	$ (0.19)	$ 0.1	$ (0.23)	$ 0.26
Weighted Average Shares Outstanding
Basic	216,134	107,641	161,690	107,565
Diluted	216,134	108,122	161,690	108,099
Product Revenues
Revenues
Total Revenues	$ 203,317	$ 106,111	$ 310,109	$ 210,124
Cost of Revenues
Total Cost of Revenues	102,530	56,374	157,971	111,100
Service Revenues
Revenues
Total Revenues	26,716	24,406	52,273	48,698
Cost of Revenues
Total Cost of Revenues	$ 14,964	$ 13,549	$ 29,602	$ 27,120

NEOG Balance Sheet

2022-11-30

Consolidated Balance Sheets - USD ($)	Nov. 30, 2022	May 31, 2022
Current Assets
Cash and cash equivalents	$ 100,000,000	$ 44,473,000
Marketable securities	176,338,000	336,578,000
Accounts receivable, net of allowance of $1,950 and $1,650 at November 30, 2022 and May 31, 2022, respectively	142,711,000	99,674,000
Inventories	136,069,000	122,313,000
Prepaid expenses and other current assets	88,215,000	23,760,000
Total Current Assets	643,333,000	626,798,000
Net Property and Equipment	148,170,000	110,584,000
Other Assets
Right of use assets	3,707,000	3,184,000
Goodwill	2,122,397,000	142,704,000
Other non-amortizable intangible assets	15,216,000	15,397,000
Amortizable intangible and other assets, net of accumulated amortization of $78,046 and $55,416 at November 30, 2022 and May 31, 2022, respectively	1,626,514,000	92,106,000
Other non-current assets	3,905,000	2,156,000
Total Assets	4,563,242,000	992,929,000
Current Liabilities
Accounts payable	79,251,000	34,614,000
Accrued compensation	15,014,000	11,123,000
Income tax payable	9,049,000	2,126,000
Accrued interest	13,974,000	0
Deferred revenue	5,083,000	5,460,000
Other accruals	30,187,000	24,521,000
Total Current Liabilities	152,558,000	77,844,000
Deferred Income Tax Liability	364,252,000	17,011,000
Non-current debt	923,962,000	0
Other non-current liabilities	16,207,000	10,700,000
Total Liabilities	1,456,979,000	105,555,000
Commitments and Contingencies (note 12)
Equity
Preferred stock, $1.00 par value, 100,000 shares authorized, none issued and outstanding	0	0
Common stock, $0.16 par value, 315,000,000 shares authorized, 216,154,283 and 107,801,094 shares issued and outstanding at November 30, 2022 and May 31, 2022, respectively	34,584,000	17,248,000
Additional paid-in capital	2,560,898,000	309,984,000
Accumulated other comprehensive loss	(40,498,000)	(27,769,000)
Retained earnings	551,279,000	587,911,000
Total Stockholders' Equity	3,106,263,000	887,374,000
Total Liabilities and Stockholders' Equity	$ 4,563,242,000	$ 992,929,000