Hedge funds are buying these two big tech stocks while selling two rivals
LANSING, Mich. - Neogen Corporation (NASDAQ:NEOG) announced Thursday the appointment of Bryan Riggsbee as its new Chief Financial Officer, effective November 3, 2025. Riggsbee will oversee the food safety company's global finance operations and join its Executive Leadership Team, reporting to CEO Mike Nassif. The appointment comes as the $1.35 billion market cap company works to improve its financial position, with analysts predicting a return to profitability this fiscal year despite challenging recent performance.
According to the company's statement, current CFO David Naemura is expected to remain with Neogen until the end of the calendar year to facilitate the transition.
Riggsbee joins Neogen from bioMérieux where he served as Chief Financial Officer of its $2 billion North American business. His career spans over 25 years of financial leadership in diagnostics and healthcare, including nearly a decade as CFO at Myriad Genetics. His previous experience includes senior finance positions at Laboratory Corporation of America (LabCorp), GE, and KPMG.
"Bryan's track record of driving disciplined growth and operational excellence across complex global organizations makes him a strong addition to our leadership team," said Nassif in the press release.
Riggsbee holds bachelor's degrees in political science from the University of North Carolina at Chapel Hill and in accounting from North Carolina State University, as well as an MBA from Northwestern University's Kellogg School of Management.
Neogen Corporation provides food safety solutions with operations in over 140 countries. The company focuses on developing products and technology for food safety, livestock, and pet health markets. While Neogen's stock has shown volatility with a 48.7% year-to-date decline, it has demonstrated recovery with a 23.4% gain over the past six months. InvestingPro analysis indicates the stock is currently trading slightly below its Fair Value, with analysts setting price targets between $6.50 and $10.00. Discover comprehensive analysis and more insights in Neogen's Pro Research Report, available with over 1,400 other detailed company assessments on InvestingPro.
In other recent news, Neogen Corporation reported a notable earnings beat for the first quarter of 2026, posting an earnings per share of $0.04, which surpassed the expected -$0.07. Revenue for the quarter also exceeded forecasts, coming in at $209.2 million against the anticipated $202.43 million. These results indicate a 157.14% surprise in earnings, showcasing the company's strong performance. In other developments, Moody's Ratings downgraded Neogen Food Safety Corporation's Corporate Family Rating to B1 from Ba3 and revised its outlook to stable from negative. Additionally, the company's senior unsecured notes rating was lowered to B3 from B2, although it retains a good liquidity rating. Meanwhile, at Neogen's 2025 Annual Meeting of Shareholders, all nominated directors were re-elected. However, shareholders rejected the proposed executive compensation package. These events highlight key recent developments for Neogen Corporation.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.