Bridge City Capital LLC Buys 104,321 Shares of Neogen Co. (NASDAQ:NEOG)

Bridge City Capital LLC lifted its holdings in shares of Neogen Co. (NASDAQ:NEOG - Free Report) by 32.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 430,758 shares of the company's stock after purchasing an additional 104,321 shares during the quarter. Bridge City Capital LLC owned approximately 0.20% of Neogen worth $3,735,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Harbour Investments Inc. bought a new position in Neogen during the fourth quarter valued at about $27,000. Versant Capital Management Inc raised its stake in shares of Neogen by 1,495.4% in the 1st quarter. Versant Capital Management Inc now owns 3,127 shares of the company's stock valued at $27,000 after acquiring an additional 2,931 shares in the last quarter. Blue Trust Inc. lifted its holdings in Neogen by 196.7% in 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 last quarter. Johnson Financial Group Inc. bought a new stake in Neogen during the fourth quarter worth approximately $43,000. Finally, Covestor Ltd boosted its position in Neogen by 41.4% during the fourth quarter. Covestor Ltd now owns 4,103 shares of the company's stock worth $50,000 after purchasing an additional 1,202 shares during the period. Institutional investors and hedge funds own 96.73% of the company's stock.

Neogen Price Performance

Neogen stock traded down $0.08 on Thursday, reaching $5.62. The company's stock had a trading volume of 5,209,707 shares, compared to its average volume of 3,215,622. Neogen Co. has a twelve month low of $3.87 and a twelve month high of $18.58. The business's fifty day moving average price is $5.69 and its 200 day moving average price is $9.24. 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 market cap of $1.22 billion, a price-to-earnings ratio of -2.57 and a beta of 1.84.

Neogen (NASDAQ:NEOG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 9th. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.02). Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The business had revenue of $221.00 million for the quarter, compared to the consensus estimate of $225.27 million. During the same period last year, the firm earned $0.12 earnings per share. The company's quarterly revenue was down 3.4% on a year-over-year basis. Equities analysts expect that Neogen Co. will post 0.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Neogen

In other news, CAO John Patrick Moylan acquired 10,000 shares of Neogen stock in a transaction dated Thursday, April 10th. The stock was bought at an average cost of $5.07 per share, with a total value of $50,700.00. Following the completion of the transaction, the chief accounting officer now directly owns 10,000 shares of the company's stock, valued at approximately $50,700. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Amy M. Rocklin purchased 12,500 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The shares were acquired at an average cost of $4.99 per share, with a total value of $62,375.00. Following the completion of the purchase, the insider now directly owns 36,287 shares in the company, valued at approximately $181,072.13. This represents a 52.55% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 83,500 shares of company stock valued at $431,525. 1.13% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NEOG. Piper Sandler decreased their price objective on shares of Neogen from $6.40 to $5.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Guggenheim cut their target price on shares of Neogen from $15.00 to $13.00 and set a "buy" rating for the company in a research report on Thursday, April 10th.

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.