Neogen Corporation (NEOG) Insider, 13F Hedge Fund & Politician Buy/Sell Thermometer

NEOG scores 50 out of 100, grade D, labeled "Roarable Sell — Underperform / Distribution Warning." The five pillars are:

• Fundamental Cash Engine: 7 / 20. Per the RQD rating, ROIC is -0.6% and FCF yield is 3.11%. This is the weakest pillar relative to its weight, reflecting that the business is not currently generating returns on invested capital above zero, even though free cash flow remains positive.
• Whale 13F Flow: 13 / 20. Per the RQD rating, this pillar reflects institutional accumulation and options positioning.
• Insider Conviction: 8 / 20. Per the RQD rating, this pillar reflects SEC Form 4 and Congressional PTR cluster flow. Individual transactions are not itemized in the source data.
• Macro Regime Fit: 12 / 20. Per the RQD rating, beta is 1.0 and sector sensitivity is factored in. This indicates market-like sensitivity to broad moves rather than a defensive or high-volatility profile.
• Forensic Balance Sheet: 10 / 20. Per the RQD rating, Altman Z is 1.45, Piotroski F is 7/9, and Debt/Equity is 0.38. The Piotroski reading is comparatively solid, while the Altman Z sits in a range that the source does not interpret for us.

For a prospective investor evaluating the stock today, the practical implication is that the score's weakest components (cash engine and insider conviction) point toward caution, while the balance-sheet and institutional-flow components are mixed rather than decisively negative. The overall grade reflects that the upside case must rest on an earnings or margin recovery that the current return metrics do not yet show.

Neogen Corporation (NEOG) is a NASDAQ-listed issuer in the Health Care sector, within the Biotechnology: In Vitro & In Vivo Diagnostic Substances industry. It carries a market capitalization of $2.7B.

Revenue declined from $924.2M in FY 2023 to $870.4M in FY 2025, and operating income moved from $58.6M in FY 2023 to -$21.6M in FY 2025. The source reports a net margin of -0.9% and an operating margin of -2.5%, with a gross margin of 46.9%. Per the RQD rating, ROIC is -0.6%, and the Altman Z-Score is 1.45 and the Piotroski F-Score is 7/9; the source does not explain how these were computed. Debt of $792.9M against cash of $145.3M in FY 2025 is consistent with the reported Debt/Equity of 0.38, though the equity figure itself is not provided.

• 🐂 Primary Bull Case: Per the news feed, shares rose 8% on better-than-expected Q1 results and guidance, with Q1 revenue reported at $222.8M against a $208.2M estimate. With Fundamental Cash Engine at 7/20 (ROIC -0.6%, FCF yield 3.11%) and Institutional Whale Flow at 10/20, sustained execution supports upside toward the top of the $5.37 – $14.26 52-week range.
• 🐻 Primary Bear Case: Per the RQD rating, ROIC is -0.6% and the Fundamental Cash Engine scores only 7 of 20, with FY 2025 operating income of -$21.6M. Investors must weigh current valuation against -2.5% operating margins and a 1.00 macro beta if sector demand softens.

Upstream and downstream dependencies are therefore — Sector and industry classification (Health Care; In Vitro & In Vivo Diagnostic Substances) is provided, but no sector correlation coefficients or bottleneck mapping are supplied.

• Key Question #1: What drove the FY 2024 net loss of -$1.09B, and is it a non-recurring charge or a structural issue?
• Key Question #2: What is the current share count and equity base used to derive the reported Debt/Equity of 0.38?
• Key Question #3: How sensitive is NEOG's 46.9% gross margin and equity valuation to Health Care demand cycles and macro interest-rate shifts (Beta 1.00)?