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Neogen Corporation’s stock has faced significant headwinds, touching a 52-week low of $7.93, with the current price of $7.80 representing a 58% decline from its 52-week high of $18.58. According to InvestingPro analysis, the stock is currently trading near its Fair Value. This price level reflects a stark contrast to the company’s performance over the past year, with Neogen Corp (NASDAQ:NEOG) experiencing a substantial 1-year change, plummeting by -45.78%. While the company maintains strong liquidity with a current ratio of 3.77, InvestingPro data reveals the company isn’t currently profitable. However, analysts expect a return to profitability this year, with projected earnings of $0.43 per share. The current low serves as a critical point of interest for both potential buyers looking for a bargain and existing shareholders concerned about the stock’s trajectory. For deeper insights, investors can access 8 additional key ProTips and a comprehensive Pro Research Report covering Neogen’s financial health and growth prospects.
In other recent news, Neogen Corporation announced its second-quarter financial results, reporting a modest revenue increase to $231.3 million, up 0.7% from the previous year. Despite this growth, the company faced a net loss of $456.3 million due to a non-cash goodwill impairment charge related to its acquisition of 3M’s Food Safety Division. Excluding this charge, the adjusted net income was $24.4 million, or $0.11 per diluted share. Neogen’s Food Safety segment saw a slight revenue decline of 0.1%, while the Animal Safety segment experienced a 2.8% increase. In other developments, Neogen introduced a new Salmonella detection kit for the poultry industry, enhancing its pathogen testing capabilities. The company also resolved a labor practices claim by the National Labor Relations Board, paving the way for a unionization vote among its employees. Additionally, Neogen’s stock was downgraded by Piper Sandler, reflecting investor concerns despite the company’s efforts to strengthen its product offerings and market presence.
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