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Neogen: Thesis Unchanged After Q4 And Full-Year Earnings

Aug. 01, 2022 11:40 AM ETNeogen Corporation (NEOG) StockMMM
Zach Bristow profile picture
Zach Bristow


  • Neogen posted Q4 FY22 and FY22 full year results with another period of growth at the top.
  • Investors were mute to the release suggesting pundits are pricing in a substantial downturn in earnings for FY23.
  • We observe some upsides in valuation and price the stock at $27, although this leaves a tight margin of safety.
  • On the culmination of these factors, we rate it neutral.

Frozen crustaceans HACCP (Hazard Analyses and Critical Control Points) - Food Safety and Quality Control in food industry - concept with shellfish under magnifying glass

Francesco Scatena

Investment Summary

Portfolio construction in FY22 ideally should mirror the distribution of potential outcomes for the US and global economy. This includes searching for a ~20% margin of safety to absorb another 20% decline in forward US earnings in the equity

This article was written by

Zach Bristow profile picture
Strategist, global markets, at Bernard Holdings. Objective view on the directional bias of markets. Technical expertise bridges the complex relationships between value drivers, capital flows and price action. Clients are represented over the cross-section of financial markets, from speculators, hedgers, long-term traders and the public. Research covers investment securities and futures markets.Shoot me a message to talk trade ideas or portfolio construction. Disclaimer:All research is strictly for informational purposes only. Not to be considered investment advice. Please remember to conduct your own due diligence.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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