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Neogen Stock Plummets 23.58%: What's Next?
Wednesday, Jun 4, 2025 1:06 pm ET1min read
Neogen Corporation plunged 23.58% intraday, as the company's Food Safety division anticipates a temporary headwind impacting its gross margin for the fiscal fourth quarter. The company cited weak market conditions, with third-quarter softness persisting into the fourth quarter, and food demand affected by macroeconomic influences and global trade uncertainty. Additionally, Neogen Food Safety is considering divesting its genomics business due to tariff pressures, with the current annual direct impact estimated at around $5 million.
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