2024-03-26 07:25:55 ET
Summary
- Neogen's shares have been negatively impacted by the disappointing performance of the merged business with 3M Food Safety.
- The company focuses on providing food safety and animal safety solutions, with consumables accounting for 95% of sales.
- Despite a potential for improvement in margins and earnings, Neogen's lack of execution and organic growth remain concerning.
At the outset of 2024 I concluded that shares of Neogen ( NEOG ) were muddling through after the 3M Food Safety deal closed in 2022. That merger caused a massive overhang on shares of Neogen, already long before it closed, as valuations were high from the get-go, but more so as the merged business showed a disappointing performance....
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For further details see:
Neogen: All About Execution From Here On