Seeking Alpha: Gravity's Only A Theory With Neogen

Neogen (NEOG) is one of the more remarkable med-tech companies out there, but I'll bet it's all but unknown to a large swatch of the Seeking Alpha reading audience. This relatively small ($1.4 billion market cap) med-tech has grown its revenue by an average of 16% a year for the past 10 years, with the stock price rising almost 900% over that same stretch of time, and there could yet be ample room to the upside.

The problem is that Neogen always looks expensive and I just cannot get comfortable with the idea that the stock's multiples will always continue to defy gravity. While the company's record of organic growth, solid margins/ROIC, and accretive acquisitions would make this a very dangerous stock to short, I'd nevertheless need to see a substantial sell-off before wanting to buy it as anything more than a growth trade.

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Gravity's Only A Theory With Neogen