Bridge City Capital LLC lifted its stake in Neogen Co. (NASDAQ:NEOG) by 27.7% in the third quarter, HoldingsChannel.com reports. The fund owned 40,280 shares of the company’s stock after purchasing an additional 8,739 shares during the period. Bridge City Capital LLC’s holdings in Neogen were worth $2,743,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Municipal Employees Retirement System of Michigan grew its stake in shares of Neogen by 1.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 15,580 shares of the company’s stock worth $968,000 after acquiring an additional 270 shares during the period. UBS Asset Management Americas Inc. grew its stake in shares of Neogen by 8.4% in the second quarter. UBS Asset Management Americas Inc. now owns 45,239 shares of the company’s stock worth $2,810,000 after acquiring an additional 3,522 shares during the period. Captrust Financial Advisors grew its stake in shares of Neogen by 20.0% in the second quarter. Captrust Financial Advisors now owns 1,135 shares of the company’s stock worth $70,000 after acquiring an additional 189 shares during the period. Granite Investment Partners LLC grew its position in Neogen by 305.3% during the second quarter. Granite Investment Partners LLC now owns 36,615 shares of the company’s stock valued at $2,274,000 after buying an additional 27,581 shares during the period. Finally, Atria Investments LLC bought a new stake in Neogen during the second quarter valued at approximately $2,399,000. Hedge funds and other institutional investors own 90.29% of the company’s stock.
Shares of NASDAQ NEOG opened at $64.74 on Wednesday. The firm has a 50 day moving average of $68.98 and a 200 day moving average of $64.17. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of 56.30, a price-to-earnings-growth ratio of 5.32 and a beta of 1.40. Neogen Co. has a 12-month low of $50.60 and a 12-month high of $79.83.
Neogen (NASDAQ:NEOG) last announced its earnings results on Tuesday, September 24th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.01). The business had revenue of $101.42 million for the quarter, compared to the consensus estimate of $105.16 million. Neogen had a net margin of 14.32% and a return on equity of 9.46%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.29 earnings per share. Analysts predict that Neogen Co. will post 1.22 EPS for the current fiscal year.
In other Neogen news, Director Jack C. Parnell sold 5,000 shares of Neogen stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $69.59, for a total transaction of $347,950.00. Following the transaction, the director now owns 531,454 shares of the company’s stock, valued at $36,983,883.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven J. Quinlan sold 15,000 shares of Neogen stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $69.04, for a total transaction of $1,035,600.00. Following the transaction, the chief financial officer now directly owns 28,470 shares in the company, valued at approximately $1,965,568.80. The disclosure for this sale can be found here. Insiders have sold 160,496 shares of company stock valued at $10,762,787 over the last 90 days. 1.70% of the stock is currently owned by company insiders.
NEOG has been the subject of several recent research reports. Zacks Investment Research lowered shares of Neogen from a “hold” rating to a “sell” rating and set a $70.00 target price for the company. in a research report on Friday, October 18th. BidaskClub lowered shares of Neogen from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. ValuEngine lowered shares of Neogen from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, Craig Hallum boosted their target price on shares of Neogen from $72.00 to $78.00 and gave the company an “in-line” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $74.00.
Neogen Corporation, together with its subsidiaries, develops, manufactures, and markets various products for food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment primarily offers diagnostic test kits and complementary to detect dangerous and/or unintended substances in human food and animal feed, such as 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 for adenosine triphosphate, a chemical found in living cells.
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