Better Than Expected Results Lifted Neogen Corporation (NEOG) Higher in Q3

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Baron Capital, an investment management company, released its Q3 2026 investor letter for the “Baron Small Cap Fund.” The letter can be downloaded here. In Q3, the Baron Small Cap…

Baron Capital, an investment management company, released its Q3 2026 investor letter for the "Baron Small Cap Fund." The letter can be downloaded here. In Q3, the Baron Small Cap Fund declined 7.69% (Institutional Shares), outperforming the Russell 2000 Growth Index, which fell 9.39%. Year to date, the Fund is down 4.30%, while the Index is up 10.71%. The Fund's initial strength in July and August was followed by a September sell-off driven by rising interest rates, inflation concerns, and geopolitical tensions, notably in the Middle East.

In its Q3 2026 investor letter, Baron Small Cap Fund highlighted that Neogen Corporation (NASDAQ:NEOG) contributed 0.67% to returns. Neogen Corporation (NASDAQ:NEOG) is a global food and animal safety solutions provider that offers diagnostic test kits and complementary products to detect dangerous and/or unintended substances in human food and animal feed. On November 12, 2026, Neogen Corporation (NASDAQ:NEOG) closed at $11.60 per share with a market capitalization of $2.44 billion. Over the past month, Neogen Corporation (NASDAQ:NEOG) pulled back 5.25% over the past month, while remaining up 75.12% over the last 52 weeks.

Baron Small Cap Fund stated the following regarding Neogen Corporation (NASDAQ:NEOG) in its Q3 2026 investor letter:

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In addition, please check out our hedge fund investor letters Q3 2026 page for more investor letters from hedge funds and other leading investors.

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