Neogen Corp (NASDAQ: NEOG) shares are soaring 5.58% in Thursday's trading session, following the company's third-quarter fiscal year 2025 earnings report and a maintained "Buy" rating from Guggenheim. Despite facing macroeconomic challenges, investors appear encouraged by management's plans to address issues and focus on key growth areas.

The company reported Q3 revenue of $221 million, with core revenue growth of 20 basis points. While this fell short of expectations, Neogen's Food Safety segment showed resilience, growing 7% excluding sample handling challenges. Management highlighted progress in integrating their transformational acquisition and plans to accelerate building a more profitable, focused business. The company also successfully refinanced its Term Loan A, extending maturity and realizing interest rate savings.

Looking ahead, Neogen is taking steps to align its cost structure with current revenue levels and focusing on its differentiated bovine genomics offering. The company's maintained "Buy" rating from Guggenheim suggests analyst confidence in Neogen's long-term prospects. While macroeconomic uncertainties and potential tariff impacts remain concerns, investors seem optimistic about Neogen's strategic initiatives and its position in the critical food safety diagnostics market.