Where is Neogen Corporation (NEOG) Headed?

Neogen Corporation (NASDAQ:NEOG) is one of the best pet stocks to buy according to hedge funds. On January 28, Neogen Corporation (NASDAQ:NEOG) announced that it is voluntarily recalling all lots within expiry of Neogen®Vet HYCOAT® Hyaluronate Sodium Sterile Solution, for use in dogs, cats, and horses, to the veterinarian level. Manufactured by a third-party supplier, the product is distributed by the company.

Management reported that the recall was initiated because of a microbial contamination in certain lots of 10 mL/50 mg product vials, and that Neogen Corporation (NASDAQ:NEOG) received a series of reports of adverse events in horses following intra-articular injections of this product. This trend is inconsistent with its labeled, intended use, and the company’s investigation into the issue is ongoing. Neogen Corporation (NASDAQ:NEOG) further stated that it has not received reports of adverse events when used in a manner consistent with the labeled use, but out of an abundance of caution, it is also recalling the 2mL/20mg product vials and is proactively working with the FDA on this matter.

In a separate development, Neogen Corporation (NASDAQ:NEOG) reported a revenue of $224.7 million in its fiscal Q2 2026, down 2.8% year-over-year. Core growth rose 2.9% year-over-year, and the net loss reported for the quarter came up to $15.9 million, with an adjusted net income of $22.6 million.

Neogen Corporation (NASDAQ:NEOG) is involved in the manufacture, development, and marketing of food and animal safety products. The company’s operations are divided into the Food Safety and Animal Safety segments.

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Disclosure: None. This article is originally published at Insider Monkey.