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Neogen

Neogen Corporation, headquartered in Lansing, Michigan, develops, manufactures, and markets various products for food and animal safety. In food safety, Neogen performs diagnostics to detect unintended substances in food and animal feed, such as pathogens, allergens, and drug residues, for food and feed processing companies. In animal safety, Neogen sells veterinary instruments, pharmaceuticals, disinfectants, and genomics tests for animals, including cattle, horses, and canines. Sales in the United States account for maximum revenue, and it also has its presence in United Kingdom and other countries.

Neogen Corp

NEOGAMES SA SHS USD

NeoGenomics Inc

Guggenheim analyst Subbu Nambi initiates coverage on Neogen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEOG#NASDAQ">NEOG</a>) with a Buy rating and announces Price Target of $15.

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Price Target

Initiation

Analyst Ratings

NEOG

Guggenheim Initiates Coverage On Neogen with Buy Rating, Announces Price Target of $15

WIIM

Neogen shares are trading lower after the company reported worse-than-expected Q1 adjusted EPS results. Also, the company announced its COO will retire in early 2025.

Neogen&rsquo;s operations organization will transition to report to David H. Naemura, Chief Financial Officer. Mr. Jones will work closely with Mr. Naemura on this transition. Mr. Jones also will continue to lead the commercial organization until the Chief Commercial Officer role is filled and will oversee the transition of this function to his successor.

Management

Neogen COO Douglas E. Jones Intends To Retire In Early 2025 - Filing

Neogen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEOG#NASDAQ">NEOG</a>) affirms FY2025 sales outlook from $925.00 million-955.00 million to $925.00 million-955.00 million.

Guidance

Neogen Affirms FY2025 Sales Guidance to $925.00M-955.00M (Est. 934.885M)

Neogen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEOG#NASDAQ">NEOG</a>) reported quarterly earnings of $0.07 per share which missed the analyst consensus estimate of $0.09 by 22.22 percent. The company reported quarterly sales of $217.000 million which beat the analyst consensus estimate of $215.056 million by 0.90 percent. This is a 5.23 percent decrease over sales of $228.987 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

Neogen Q1 2025 Adj. EPS $0.07 Misses $0.09 Estimate, Sales $217.000M Beat $215.056M Estimate

Neogen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEOG#NASDAQ">NEOG</a>) is set to give its latest quarterly earnings report on Thursday, 2024-10-10. Here's what investors need to know before the announcement.
Analysts estimate that Neogen will report an earnings per share (EPS) of $0.08. 
Investors in Neogen are eagerly awaiting the company's announcement, hoping for news of surpassing estimates and positive guidance for the next quarter.
It's worth noting for new investors that stock prices can be heavily influenced by future projections rather than just past performance.
<h3>Performance in Previous Earnings</h3>
In the previous earnings release, the company missed EPS by $0.01, leading to a 3.13% drop in the share price the following trading session.
Here's a look at Neogen's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q4 2024</th>
<th>Q3 2024</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.11</td>
<td>0.14</td>
<td>0.14</td>
<td>0.12</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.10</td>
<td>0.12</td>
<td>0.11</td>
<td>0.11</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-3.0%</td>
<td>-4.0%</td>
<td>3.0%</td>
<td>-7.000000000000001%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1728482425_0.png" alt="eps graph" />
<h3>Tracking Neogen's Stock Performance</h3>
Shares of Neogen were trading at $14.69 as of October 08. Over the last 52-week period, shares are down 2.27%. Given that these returns are generally negative, long-term shareholders are likely unhappy going into this earnings release. 
<h3>Analyst Opinions on Neogen</h3>
For investors, staying informed about market sentiments and expectations in the industry is paramount. This analysis provides an exploration of the latest insights on Neogen.
With 1 analyst ratings, Neogen has a consensus rating of Neutral. The average one-year price target is $17.5, indicating a potential 19.13% upside.
<h3>Understanding Analyst Ratings Among Peers</h3>
This comparison focuses on the analyst ratings and average 1-year price targets of Haemonetics, UFP Techs and ICU Medical, three major players in the industry, shedding light on their relative performance expectations and market positioning.
<ul>
<li>Haemonetics is maintaining an Outperform status according to analysts, with an average 1-year price target of $105.57, indicating a potential 618.65% upside.</li>
<li>Analysts currently favor an Buy trajectory for UFP Techs, with an average 1-year price target of $392.0, suggesting a potential 2568.48% upside.</li>
<li>The consensus among analysts is an Outperform trajectory for ICU Medical, with an average 1-year price target of $165.0, indicating a potential 1023.21% upside.</li>
</ul>
<h3>Peer Analysis Summary</h3>
Within the peer analysis summary, vital metrics for Haemonetics, UFP Techs and ICU Medical are presented, shedding light on their respective standings within the industry and offering valuable insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Neogen</td>
<td>Neutral</td>
<td>-2.07%</td>
<td>$113.48M</td>
<td>-0.17%</td>
</tr>
<tr>
<td>Haemonetics</td>
<td>Outperform</td>
<td>7.98%</td>
<td>$174.92M</td>
<td>4.11%</td>
</tr>
<tr>
<td>UFP Techs</td>
<td>Buy</td>
<td>10.14%</td>
<td>$33.03M</td>
<td>4.48%</td>
</tr>
<tr>
<td>ICU Medical</td>
<td>Outperform</td>
<td>8.58%</td>
<td>$207.43M</td>
<td>-1.04%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Neogen ranks at the bottom for Revenue Growth among its peers. It is also at the bottom for Gross Profit. For Return on Equity, Neogen is at the bottom.
<h3>Get to Know Neogen Better</h3>
Neogen Corporation, headquartered in Lansing, Michigan, develops, manufactures, and markets various products for food and animal safety. In food safety, Neogen performs diagnostics to detect unintended substances in food and animal feed, such as pathogens, allergens, and drug residues, for food and feed processing companies. In animal safety, Neogen sells veterinary instruments, pharmaceuticals, disinfectants, and genomics tests for animals, including cattle, horses, and canines. Sales in the United States account for maximum revenue, and it also has its presence in United Kingdom and other countries.
<h3>Financial Insights: Neogen</h3>
Market Capitalization: With restricted market capitalization, the company is positioned below industry averages. This reflects a smaller scale relative to peers.
Decline in Revenue: Over the 3 months period, Neogen faced challenges, resulting in a decline of approximately -2.07% in revenue growth as of 31 May, 2024. This signifies a reduction in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Health Care sector.
Net Margin: Neogen's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of -2.29%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of -0.17%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Neogen's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of -0.12%, the company showcases efficient use of assets and strong financial health.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.28.
<a href="https://www.benzinga.com/quote/NEOG/earnings">To track all earnings releases for Neogen visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Glimpse of Neogen's Earnings Potential

Neogen&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/neog#NASDAQ">NEOG</a>) vast international trade is impacted by global macroeconomic issues. Also, a tough competitive landscape weighs on the stock. NEOG stock carries a Zacks Rank #4 (Sell).
Neogen&#39;s international business continues to be affected by currency movements.
The current macroeconomic environment has adversely impacted Neogen&#39;s financial operations. Governments and insurance companies continue to look for ways to contain the rising cost of healthcare. This might put pressure on players in the healthcare industry, with Neogen being no exception.&nbsp; Although the company is gradually coming out of the impact of the two-and-a-half-year-long pandemic, deteriorating international trade, with global inflationary pressure leading to a tough situation related to raw material and labor cost as well as freight charges, and a higher interest rate have put the medical device space in a tight spot.
With sustained macroeconomic pressure, the company may struggle to keep its cost of revenues and operating expenses in check. In fiscal 2024, sales and marketing expenses rose 29.5% year over year. Our model forecasts a 1.5% rise in the metric for fiscal 2025.
Further, Neogen faces intense competition from companies ranging from small businesses to divisions of large multinational companies. Some of these organizations have substantially greater financial resources than the company. Historically, Neogen has faced intense competition resulting from the development of new technologies by the company&#39;s competitors, which could affect the marketability and profitability of Neogen&#39;s products.
<h2>Factors That May Offset the Risks for NEOG Stock</h2>
Neogen is progressing well in terms of picking the right growth markets and gaining a bigger share of those markets. In the fiscal fourth quarter, the Indicator Testing, Culture Media &amp; Other product categories benefited from double-digit growth in the Petrifilm product line as well as solid growth in culture media and food quality nutritional analysis. Additionally, the Vet Instruments and Disposables product line witnessed solid core growth. In the Animal care and other product category, core growth was led by higher sales of vitamin injectables and Biologics products.
<div class="chart_embed">
<h2>Neogen Corporation Price</h2>
<img alt="Neogen Corporation Price" src="https://staticx-tuner.zacks.com/images/charts/a6/1724841357.png" style="height:251px; width:538px" title="" />
Neogen Corporation price | Neogen Corporation Quote
Neogen also continues to carry out its strong R&amp;D activities. During the fiscal fourth quarter, Neogen&#39;s R&amp;D expenses totaled $5.1 million, up sequentially 4.1%.
</div>
The company is expanding well in other geographies. The company is seeing double-digit sales growth in Latin America, with strong performance across most key product categories.&nbsp; The business in Europe and Asia Pacific grew in low single digits and mid-single digits, respectively, with strength in Culture media, Petrifilm, General Sanitation and Sample Handling.
<h2>Key Picks</h2>
Some better-ranked stocks in the broader medical space are Intuitive Surgical (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/isrg#NASDAQ">ISRG</a>), TransMedics Group (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tmdx#NASDAQ">TMDX</a>) and Boston Scientific (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bsx#NYSE">BSX</a>). While Intuitive Surgical and TransMedics sport a Zacks Rank #1 (Strong Buy) each, Boston Scientific currently carries a Zacks Rank of 2 (Buy).
Intuitive Surgical&#39;s shares have surged 55.4% in the past year. Estimates for the company&#39;s earnings have remained constant at $6.67 per share for 2024 in the past 30 days.
ISRG&#39;s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 8.97%. In the last reported quarter, it posted an earnings surprise of 16.34%.
Estimates for TransMedics&#39; 2024 earnings per share have moved up 48.1% to $1.20 in the past 30 days. Shares of the company have risen 174.1% in the past year compared with the industry&#39;s 9.2% growth.
TMDX&#39;s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 287.50%. In the last reported quarter, it delivered an earnings surprise of 66.67%.
Estimates for Boston Scientific&#39;s 2024 EPS have increased 1.7% to $2.40 in the past 30 days. In the past year, shares of BSX have risen 46% compared with the industry&#39;s 9.2% growth.
In the last reported quarter, BSX delivered an earnings surprise of 6.90%. BSX&#39;s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 7.18%.
<a href="https://www.zacks.com/stock/news/2328483/neogen-suffers-from-competitive-pressure-macroeconomic-woes?cid=CS-BENZ-FT-analyst_blog|zer_report_update-2328483">To read this article on Zacks.com click here.</a>

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Neogen Suffers From Competitive Pressure, Macroeconomic Woes

Piper Sandler analyst David Westenberg maintains Neogen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEOG#NASDAQ">NEOG</a>) with a Neutral and raises the price target from $17 to $17.5.

Piper Sandler Maintains Neutral on Neogen, Raises Price Target to $17.5

General

Neogen shares are trading higher after the company reported better-than-expected Q4 revenue results.

Health Care

Neogen Expects FY2025 Adjusted EBITDA Of $215M-$235M, While Capital Expenditures Are Expected To Be Approximately $85M, Including Approximately $55M Related Specifically To The Integration Of The Former 3M Food Safety Division

Neogen Initiates Its Full-year Outlook For Fiscal Year 2025, With Revenue Guidance Of $925M-$955M Versus Consensus Of $938.743M

Neogen Q4 2024 Adj. EPS $0.10 Misses $0.12 Estimate, Sales $236.794M Beat $225.837M Estimate

Neogen Corporation&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/neog#NASDAQ">NEOG</a>) effectively progresses with its strategic growth pillars, placing the company well for future success. The Animal Safety segment thrives from the successful consumables product line and also boasts a promising future in genomic services. Additionally, the company&#39;s slew of impressive product introductions nicely sets up for growth in the upcoming quarters.
Meanwhile, the adverse macroeconomic pressure on operations and competitive disadvantages remain our concerns for Neogen&#39;s operations.
In the past year, this Zacks Rank #3 (Hold) stock has declined 28.3% compared with a 2.4% fall of the industry&nbsp;and a 26.6% increase in the S&amp;P 500.
The renowned food and animal safety product provider has a market capitalization of $3.29 billion. The company has an earnings yield of 3.7% compared with the industry&#39;s 1% yield. However, in the trailing four quarters, NEOG delivered an average negative earnings surprise of 5.6%.
Let&#39;s delve deeper.
<h3>Factors at Play</h3>
Progress in Long-Term Growth Strategy:&nbsp;Neogen focuses on boosting the sales of existing products, launching new products, expanding overseas and forming strategic alliances. The company is progressing well in terms of picking the right growth markets and gaining a bigger share of those markets. Their R&amp;D activities have been strong, having expensed $4.9 million in the fiscal third quarter.
Internationally, Neogen is witnessing improvements in sales across Europe, Latin America, Japan and China, banking on strong growth in Petrifilm, pathogens, sample handling and genomics. The company has advanced its food safety data analytics strategy by acquiring Corvium, the SaaS provider behind its software analytics platform.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/8e/70369.jpg?v=853620461" />
Image Source: Zacks Investment Research
The integration of the 3M Food Safety Division is on track, with the company completing the relocation of the former 3M pathogen detection product line and starting production in one of the Lansing facilities. Also, the final relocation of the sample handling production is expected to be completed by the end of the fiscal year, with production likely to begin in the fiscal 2025 first quarter.
Bright Prospects of Animal Safety:&nbsp;Neogen&#39;s Animal Safety segment is gaining from the strong performances of a complete line of consumable products marketed to veterinarians and animal health product distributors. Further, its genomic identification and related interpretive bioinformatics services, too, are showing strong prospects.
The business continues to grow, led by sales of vet instruments and disposables and a new line of business with a large retail customer. Within the biosecurity portfolio, Neogen continues to grow solidly in cleaners, disinfectants and rodenticides. In the fiscal third quarter, revenues in the Animal Safety segment were $71.1 million, up 6.5% year over year. Following a period of a choppy scenario in terms of inventory level destocking, Animal Safety has started to witness a favorable trend.
Product Launches:&nbsp;The launch of the Molecular Detection Assay 2 &ndash; Salmonella Enteritidis/Salmonella Typhimurium (MDA2SEST) kit is highly relevant for the poultry industry, expanding Neogen&#39;s pathogen detection assay offering. The company also launched Farm Fluid MAX in Great Britain, which is a dual-action disinfectant designed for challenging farm conditions. The new Veratox VIP assay for the detection of walnuts marks the third assay in Neogen&#39;s Veratox VIP line of enhanced quantitative ELISA products.
In January 2024, the company furthered its innovations with SureKill Gel Bait Pro Applicator, which allows users to easily target inconvenient and challenging areas while minimizing bait waste and innovating baiting protocols. Last year, Neogen launched Igenity Enhanced Dairy, a new and progressive genomic data management tool and debuted new genetic tests through Paw Print Genetics and Canine HealthCheck solutions.
<h3>Downsides</h3>
Global Economic Problems Dent Growth: The company&#39;s international business continues to be affected by currency movements. Governments and insurance companies are looking for ways to curb the rising cost of healthcare, potentially affecting healthcare industry players like Neogen. Furthermore, macroeconomic pressures such as deteriorating international trade, rising inflation, increased raw material, labor and freight costs, as well as higher interest rates, are posing challenges for the company in managing its cost of revenues and operating expenses.
Competitive Landscape Tough: Neogen faces intense competition from both small businesses to large multinational organizations with substantially greater financial resources. Historically, the development of new technologies by competitors has affected the marketability and profitability of the company&#39;s products.
<h3>Estimate Trend</h3>
In the past 30 days, the Zacks Consensus Estimate for Neogen&#39;s earnings for fiscal 2024 has remained constant at 46 cents.
The Zacks Consensus Estimate for the company&#39;s fiscal 2024 revenues is pegged at $912.7 million, which suggests a 10.9% rise from the fiscal 2023 reported number.
<h3>Key Picks</h3>
Some better-ranked stocks in the broader medical space are Hims &amp; Hers Health (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hims#NYSE">HIMS</a>), Medpace (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/medp#NASDAQ">MEDP</a>) and ResMed (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rmd#NYSE">RMD</a>).
Hims &amp; Hers Health&#39;s earnings are expected to surge 281.8% in 2024 compared with the industry&#39;s 15.7%. HIMS&#39; earnings surpassed estimates in three of the trailing four quarters and missed in one, delivering an average surprise of 79.2%. Its shares have surged 136.9% against the industry&#39;s 25.2% decline in the past year.
HIMS sports a Zacks Rank #1 (Strong Buy) at present.
Medpace, carrying a Zacks Rank #2 (Buy) at present, has an estimated 2024 earnings growth rate of 27.1% compared with the industry&#39;s 13.1%. Shares of MEDP have rallied 72.3% compared with the industry&#39;s 5.7% growth over the past year.
MEDP&#39;s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 12.8%. In the last reported quarter, it delivered an earnings surprise of 30.6%.
ResMed, also carrying a Zacks Rank #2 at present, has an estimated fiscal 2024 earnings growth rate of 19.6% compared with the industry&#39;s 12.9%. Shares of RMD have dropped 11.9% compared with the industry&#39;s 2.5% decline over the past year.
RMD&#39;s earnings surpassed estimates in three of the trailing four quarters and missed in one, delivering an average surprise of 2.8%. In the last reported quarter, it delivered an earnings surprise of 10.9%.
<a href="https://www.zacks.com/stock/news/2297180/here-s-why-staying-invested-in-neogen-neog-could-be-beneficial?cid=CS-BENZ-FT-analyst_blog|rank_focused-2297180">To read this article on Zacks.com click here.</a>

Hims & Hers Health, Inc. Class A Common Stock

HIMS

MEDP

Here's Why Staying Invested in Neogen Could be Beneficial

Investors looking to dial up their risk-reward profile typically consider targeting small publicly traded enterprises that offer robust upside potential. Of course, the main threat to this  framework is volatility. While that risk can never be completely mitigated, the AlphaMark Actively Managed Small Cap ETF (SMCP) provides market speculators with a more sensible platform.  
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Generally, small-capitalization firms have not always performed well. One of the headwinds impacting the ecosystem have been elevated benchmark interest rates. According to Reuters1, small caps started surging in late 2023 – as reflected by the rising per-unit price of SMCP – due to speculation of incoming rate cuts. However, the acceleration eventually faded as inflationary pressures stubbornly stood their ground.  
Nevertheless, some relief in this department could possibly be on the way. Based on the latest information 2 from the Labor Department, while the number of new applicants for jobless claims decreased from the prior week, the total number of people requesting some form of government assistance increased. This dynamic suggests that the <a href="https://www.benzinga.com/news/large-cap/24/06/39225961/job-market-booms-in-may-payrolls-surge-more-than-expected-wages-increase">red-hot labor market</a> is beginning to cool.&nbsp;&nbsp;
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Rounding out the top three is Neogen Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEOG#NASDAQ">NEOG</a>), which falls under the diagnostics and research sector of the healthcare ecosystem. It focuses on products and services dedicated to food and animal safety and features 1.31% of the SMCP ETF. Visit&nbsp; <a href="https://alphamarkadvisors.com/etf/" title="https://alphamarkadvisors.com/etf/">https://alphamarkadvisors.com/etf/</a> to obtain Top 10 holdings of SMCP ETF.&nbsp;&nbsp;
To be sure, <a href="https://www.benzinga.com/news/small-cap">small-cap stocks</a> present a higher-risk profile than that of mid or especially large cap firms. Primarily, small caps simply require <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/05/38648713/as-large-cap-stocks-take-a-breather-and-the-spy-trades-sideways-will-small-cap-stocks-st">more due diligence</a>. Part of the reason is that because the underlying businesses tend to be relatively diminutive, not many analysts cover the space. As a result, there are likely to be informational gaps. These gaps can catch unprepared investors off guard yet this unpredictability also facilitates opportunities for upside.&nbsp;&nbsp;
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• A big acquisition volume spike that flashed on the June 17 session will offer encouragement to the optimists, especially as they wait for news that could benefit small caps, such as an accommodative (dovish) monetary policy.  
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXecNj2ySyR9OY8nE-E0rQkqX6HOTWFlidoLyvC7TA52FezZkqMhk1OYFiWyq7CFOmlLBQtIkL69-8djpzYcAxjF7z9vwifJFQ_9-D5grIDlJRh6DIjTr_wQ_PSJ6ACUysnjorirPENq3FyjWjJZYDLp7DsZ?key=wALxegg3tHTHHTWasx9j7w" alt="" /></figure>
Past performance is not a guarantee of future results. The investment return and the principal value of an investment in the Fund will fluctuate so that an investor's shares,&nbsp; when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data cited. Current month-end data is available at 859-957-1803.&nbsp;&nbsp;
Visit <a href="https://alphamarkadvisors.com/etf/">https://alphamarkadvisors.com/etf/</a>&nbsp; for more information about the AlphaMark Actively&nbsp; Managed Small Cap ETF. Standardized fund performance can also be found through the link in&nbsp; addition to more information.&nbsp;&nbsp;
Featured photo by StockSnap from Pixabay &nbsp;
The fund's investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus and summary prospectus contains this and other important information about the investment company, or a free, hard-copy may be obtained by calling&nbsp; 1-800-730-3457. Read it carefully before investing. Investing involves risk. Principal loss is possible. Investing involves risk. Principal loss is possible. When the Fund invests in ADRs as a substitute for an investment directly in the Underlying Shares, the Fund is exposed to the risk that the ADRs may not provide a return that corresponds precisely with that of the&nbsp; Underlying Shares. The Fund is non-diversified, meaning it may concentrate its assets in fewer individual holdings than a diversified fund. Therefore, the Fund is more exposed to individual stock volatility than a diversified fund. A Fund that concentrates its investments in the securities of a particular sector area may be more volatile than a fund that invests in a broader range of industries.
The Fund invests in foreign securities which involve political, economic and currency risks,&nbsp; greater volatility and differences in accounting methods. These risks are greater for investments i n emerging markets. The Fund invests in smaller companies, which involve additional risks such as limited liquidity and greater volatility. REITs may have limited financial resources, may trade less frequently and in limited volume, and may be more volatile than other securities. Investing in investment companies, such as ETFs will subject the Fund to additional expenses of each investment company and risk of owning the underlying securities held by each. ETFs may trade at a premium or discount to their net asset value. ETFs are bought and sold at market price and not individually redeemed from the fund. Brokerage commissions will reduce returns. Fund holdings and sector allocations are subject to change at any time and should not be considered recommendations to buy or sell any security. The SEC does not endorse, indemnify,&nbsp; approve, nor disapprove of any security.&nbsp;&nbsp;
AlphaMark Advisors LLC is the Advisor to the AlphaMark Actively Managed Small Cap ETF&nbsp; which is distributed by Quasar Distributors, LLC.&nbsp;&nbsp;
Footnotes:&nbsp;&nbsp;
1 <a href="https://www.reuters.com/markets/us/wall-st-week-ahead-us-small-caps-struggle-elevated-interest-rat">https://www.reuters.com/markets/us/wall-st-week-ahead-us-small-caps-struggle-elevated-interest-rat&nbsp; es-take-toll-2024-05-03/</a> &nbsp;
2 <a href="https://www.reuters.com/markets/us/us-weekly-jobless-claims-fell-latest-week-2024-06-20/">https://www.reuters.com/markets/us/us-weekly-jobless-claims-fell-latest-week-2024-06-20/</a>&nbsp;

Long Ideas

Short Ideas

Technicals

ETFs

Inflation Slows Small Cap Rally, But SMCP ETF Offers Strategic Entry Point

Neogen Launches Petrifilm Automated Feeder to Enhance Efficiency for High-Volume Food Safety Testing Laboratories, Building on 40 Years of Innovation in Quality Indicator Testing

Neogen's Molecular Detection System Named Primary Method For Salmonella And Listeria Testing In Meat, Poultry, And Egg Products By USDA FSIS

These mid-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Agios Pharmaceuticals Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGIO#NASDAQ">AGIO</a>) shares soared 29.13% in the last week after reporting that its transfusion-dependent (TD) alpha-or beta-thalassemia study <a href="https://www.benzinga.com//node/39141375">met primary endpoint</a>. Several analysts <a href="https://www.benzinga.com/quote/agio/analyst-ratings">raised their forecasts</a> after the announcement.</li>
<li>Verint Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRNT#NASDAQ">VRNT</a>) shares are zoomed 22.40% after the company on Tuesday reported better-than-expected Q1 financial results <a href="https://www.benzinga.com//node/39170267" target="_blank" rel="noreferrer noopener">and issued strong FY25 guidance</a>.</li>
<li>Novavax Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVAX#NASDAQ">NVAX</a>) shares gained 21.54% in the last week after the U.S. Food and Drug Administration&#8217;s advisory committee voted to recommend <a href="https://www.benzinga.com/general/biotech/24/06/39204978/novavax-stock-rallies-in-pre-market-as-company-plans-to-deliver-covid-19-vaccine-by-september">updated vaccines for JN.1-lineage of COVID-19</a>.</li>
<li>Nuvalent, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUVL#NASDAQ">NUVL</a>) shares rose 20.52%.</li>
<li>Neogen Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEOG#NASDAQ">NEOG</a>) shares increased 19.25%.</li>
<li>Twist Bioscience Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWST#NASDAQ">TWST</a>) shares jumped 18.40% after Guggenheim initiated coverage on the stock with a Buy rating <a href="https://www.benzinga.com/quote/twst/analyst-ratings" target="_blank" rel="noreferrer noopener">and announced a price target of $53</a>.</li>
<li>Smartsheet Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMAR#NYSE">SMAR</a>) shares escalated 18.01% after the company reported better-than-expected Q1 financial results and announced an<a href="https://www.benzinga.com//node/39195040" target="_blank" rel="noreferrer noopener"> inaugural $150 million share repurchase program</a>. Many analysts changed<a href="https://www.benzinga.com//node/39206468" target="_blank" rel="noreferrer noopener"> their price targets</a>.</li>
<li>Halozyme Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HALO#NASDAQ">HALO</a>) stock grew 14.03%  after the company<a href="https://www.benzinga.com//node/39211537" target="_blank" rel="noreferrer noopener"> raised its FY24 guidance</a>.</li>
<li>Legend Biotech Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LEGN#NASDAQ">LEGN</a>) <a href="https://www.benzinga.com/quote/legn/analyst-ratings" target="_blank" rel="noreferrer noopener">shares rose 13.93%</a>.</li>
<li>Liberty Global Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LBTYB#NASDAQ">LBTYB</a>) shares upped 12.48%.</li>
</ol>
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Also Read: <a href="https://www.benzinga.com/news/24/06/39243316/gamestop-and-nio-were-among-the-11-biggest-large-cap-losers-last-week-june-1-june-7-are-these-in-you">GameStop And NIO Were Among The 11 Biggest Large Cap Losers Last Week (June 1-June 7): Are These In Your Portfolio?</a>

Movers

ACLS

AGIO

HALO

IRTC

LBTYB

LEGN

NUVL

NVAX

NVDA

SMAR

TWST

VRNT

Novavax And Agios Pharmaceuticals Were Among The 10 Biggest Mid-Cap Gainers Last Week (June 1-June 7): Are These In Your Portfolio?

Neogen Launches CelluSmart Technology For Biofuel Industry

U.S. stocks were mixed, with the Dow Jones index gaining around 20 points on Tuesday.
Shares of Saia Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAIA#NASDAQ">SAIA</a>) rose sharply during today's pre-market trading session after the company reported an 18% increase in LTL shipments <a href="https://www.benzinga.com/quote/SAIA/news">per workday in April</a>.
Saia shares jumped 12.3% to $452.00 on Tuesday.
Here are some other big stocks recording gains in today&#8217;s session.
<ul>
<li>Annexon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANNX#NASDAQ">ANNX</a>) surged 40% to $6.44 after the company&#8217;s Phase 3 trial of ANX005 met its primary endpoint.</li>
<li>Core Scientific Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CORZ#NASDAQ">CORZ</a>) shares climbed 29% to $6.28. Core Scientific announced the signing of a series of 12-year contracts with CoreWeave, the AI Hyperscaler.</li>
<li>Terawulf Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WULF#NASDAQ">WULF</a>) rose 12% to $2.30 after the company issued May 2024 production and operations update.</li>
<li>Zai Lab Ltd – ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZLAB#NASDAQ">ZLAB</a>) shares climbed 9.9% to $19.78.</li>
<li>Hillevax Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HLVX#NASDAQ">HLVX</a>) rose 9.7% to $13.60.</li>
<li>Agenus Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGEN#NASDAQ">AGEN</a>) shares climbed 9.3% to $18.55.</li>
<li>Old Dominion Freight Line Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) gained 5.6% to $178.76.</li>
<li>SkyWest Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYW#NASDAQ">SKYW</a>) climbed 5.6% to $83.87.</li>
<li>XPO Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>) gained 5.3% to $107.78.</li>
<li>Neogen Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEOG#NASDAQ">NEOG</a>) climbed 4.7% to $14.37.</li>
<li>Carnival plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CUK#NYSE">CUK</a>) gained 4.3% to $15.06.</li>
<li>Forward Air Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FWRD#NASDAQ">FWRD</a>) rose 3.9% to $17.88.</li>
<li>Boot Barn Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOOT#NYSE">BOOT</a>) gained 3.4% to $127.40.</li>
<li>Upstart Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPST#NASDAQ">UPST</a>) rose 3.2% to $24.90. Redburn Atlantic analyst Simon Clinch upgraded Upstart from Sell to Neutral and raised the price target from $22.5 to $25.5.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/24/06/39157518/best-buy-mckesson-and-2-other-stocks-insiders-are-selling">Best Buy, McKesson And 2 Other Stocks Insiders Are Selling</a>

Intraday Update

AGEN

ANNX

BOOT

Core Scientific, Inc. - Class A Common Stock

CORZ

FWRD

HLVX

ODFL

SAIA

SKYW

UPST

WULF

ZLAB

Saia, Annexon, Core Scientific And Other Big Stocks Moving Higher On Tuesday

Although U.S. stocks closed lower on Wednesday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#39;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"> Benzinga&#39;s insider transactions </a> platform.
<h3>Rocket Companies </h3>
<ul>
<li>The Trade: Rocket Companies, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rkt#NYSE">RKT</a>) Director Matthew Rizik <a href="https://www.benzinga.com/quote/RKT/analyst-ratings"> acquired a total of 1,116 shares </a> an average price of $11.69. To acquire these shares, it cost around $13,050.</li>
<li>What&rsquo;s Happening: On March 18, B of A Securities analyst Mihir Bhatia maintained Rocket Companies with an Underperform and raised the price target from $7 to $8.</li>
<li>What Rocket Companies Does: Rocket Companies is a financial services company that was originally founded as Rock Financial in 1985 and is currently based in Detroit.</li>
</ul>
<h3>Neogen </h3>
<ul>
<li>The Trade: Neogen Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/neog#NASDAQ">NEOG</a>) Chief Operating Officer Douglas Edward Jones acquired a total of 10,000 shares at an average price of $12.36. To acquire these shares, it cost around $123,590.</li>
<li>What&rsquo;s Happening: On April 9, Neogen reported worse than expected third-quarter FY2024 earnings and cut 2024 guidance.</li>
<li>What Neogen Does: Neogen Corporation, headquartered in Lansing, Michigan, develops, manufactures, and markets various products for food and animal safety.</li>
</ul>
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
<h3>Steel Connect </h3>
<ul>
<li>The Trade: Steel Connect, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/stcn#NASDAQ">STCN</a>) 10% owner WF Asset Corp <a href="https://www.benzinga.com/sec/insider-trades/"> bought a total of 42,309 shares </a> at an average price of $9.22. To acquire these shares, it cost around $390,000.</li>
<li>What&rsquo;s Happening: On March 15, Steel Connect reported second-quarter revenues of $43 million.</li>
<li>What Steel Connect Does: Steel Connect Inc is a diversified holding company. The company&#39;s operating segment include Direct Marketing and Supply Chain.</li>
</ul>
&nbsp;
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/04/38307310/d-r-horton-netflix-and-3-stocks-to-watch-heading-into-thursday"> D.R. Horton, Netflix And 3 Stocks To Watch Heading Into Thursday </a>

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Pre-Market Outlook

STCN

Insiders Buying Rocket Companies And 2 Other Stocks

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Neogen Highlights Global Food Security Initiatives

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Mairs & Power Balanced Fund Q3 2024 Commentary

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