Neogen Co. (NASDAQ:NEOG) Shares Purchased by Bridge City Capital LLC

Bridge City Capital LLC grew its stake in shares of Neogen Co. (NASDAQ:NEOG) by 6.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 326,437 shares of the company’s stock after purchasing an additional 19,507 shares during the period. Bridge City Capital LLC’s holdings in Neogen were worth $3,963,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Harbour Investments Inc. acquired a new stake in shares of Neogen during the fourth quarter valued at $27,000. Blue Trust Inc. grew its holdings in shares of Neogen by 196.7% during the 4th quarter. Blue Trust Inc. now owns 3,368 shares of the company’s stock worth $41,000 after purchasing an additional 2,233 shares during the period. Neo Ivy Capital Management acquired a new stake in shares of Neogen in the third quarter worth $66,000. KBC Group NV raised its position in Neogen by 39.1% in the fourth quarter. KBC Group NV now owns 8,464 shares of the company’s stock valued at $103,000 after purchasing an additional 2,379 shares during the period. Finally, Marco Investment Management LLC purchased a new stake in shares of Neogen during the 3rd quarter valued at about $169,000. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Guggenheim began coverage on Neogen in a report on Thursday, December 19th. They issued a “buy” rating and a $15.00 price target for the company. Piper Sandler restated a “neutral” rating and issued a $13.00 target price (down from $16.50) on shares of Neogen in a research note on Tuesday, January 21st.

Insider Transactions at Neogen

In other Neogen news, CEO John Edward Adent acquired 23,035 shares of Neogen stock in a transaction on Thursday, January 16th. The shares were bought at an average price of $11.03 per share, with a total value of $254,076.05. Following the completion of the purchase, the chief executive officer now owns 269,164 shares in the company, valued at $2,968,878.92. This trade represents a 9.36 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO David H. Naemura purchased 14,800 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was bought at an average cost of $11.11 per share, with a total value of $164,428.00. Following the acquisition, the chief financial officer now owns 61,434 shares of the company’s stock, valued at $682,531.74. This represents a 31.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.13% of the company’s stock.

Neogen Trading Down 1.3 %

Neogen stock opened at $8.85 on Friday. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of -4.04 and a beta of 1.27. Neogen Co. has a 52 week low of $8.60 and a 52 week high of $18.58. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.46 and a current ratio of 3.77. The company has a 50 day moving average price of $10.46 and a 200 day moving average price of $12.98.

Neogen (NASDAQ:NEOG) last posted its earnings results on Friday, January 10th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.12. The company had revenue of $231.30 million during the quarter, compared to the consensus estimate of $227.16 million. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 earnings per share. Research analysts forecast that Neogen Co. will post 0.38 EPS for the current year.

About Neogen

Neogen Corporation, together with its subsidiaries, engages in the development, manufacture, and marketing of various products and services dedicated to food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment offers diagnostic test kits and related products to detect dangerous and unintended substances in food and animal feed, including foodborne pathogens, spoilage organisms, natural toxins, food allergens, genetic modifications, ruminant by-products, meat speciation, drug residues, pesticide residues, and general sanitation concerns; and AccuPoint Advanced rapid sanitation test to detect the presence of adenosine triphosphate, a chemical found in living cells, as well as provides genomics-based diagnostic technology and software systems that help testers to objectively analyze and store their results and perform analysis on the results from multiple locations over extended periods.