Neogen Corporation
In the published model solve dated 2026-Q2, anchored at $11.39, Neogen Corporation (NEOG) is priced for +8.3% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 27, 2026 from SEC EDGAR filings.
Neogen sells food-safety and animal-safety testing products, the kind of business that is normally easy to like because it runs on recurring consumables, but is hard to value right now because it is mid-integration of the large 3M Food Safety (Petrifilm) acquisition. Trailing operating margin is deeply negative on impairment and integration charges, while the through-cycle margin is around 16%. At $9.30 the stock has been heavily de-rated. On normalized earnings the price pays about 19x mid-cyc
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297 institutional managers reported holding NEOG in 13F filings for the quarter ended 2026-03-31. 37 opened new positions that quarter. Held by BlackRock, Vanguard Group, Dimensional Fund Advisors, among others. On the short side, 11.9M shares were sold short as of the 2026-06-15 count, about 5% of shares outstanding (6.4 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
NEOG's share count grew 102.5% over the past five years. It pays no dividend.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at NEOG over the trailing three years: 2023: 4 buys totaling $380k; 2024: 6 buys totaling $913k; 2025: 13 buys totaling $1.19M; 2026: 4 buys totaling $2k. 19 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
NEOG's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-01-10 | +5.1% | +4.6% |
| 2023-04-05 | +0.2% | +9.9% |
| 2023-10-11 | -11.7% | +24.8% |
| 2024-01-10 | -5.5% | -16.8% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
NEOG's latest 8-K filings: 2026-08-07 (items 5.02); 2026-07-30 (items 2.02, 9.01); 2026-04-20 (items 7.01, 9.01); 2026-04-09 (items 2.02, 9.01); 2026-03-30 (items 5.02).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.