Neogen Corporation (NASDAQ: NEOG) 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'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'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 and a 26.6% increase in the S&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's 1% yield. However, in the trailing four quarters, NEOG delivered an average negative earnings surprise of 5.6%. Let's delve deeper. Factors at Play Progress in Long-Term Growth Strategy: 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&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. 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 ...