Neogen Corporation (NASDAQ:NEOG) Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH lowered its holdings in shares of Neogen Corporation (NASDAQ:NEOG - Free Report) by 31.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 302,958 shares of the company's stock after selling 135,799 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.14% of Neogen worth $2,627,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Clarkston Capital Partners LLC purchased a new stake in Neogen during the 4th quarter valued at approximately $34,801,000. Vanguard Group Inc. grew its holdings in Neogen by 9.8% during the 4th quarter. Vanguard Group Inc. now owns 21,637,251 shares of the company's stock valued at $262,676,000 after buying an additional 1,928,491 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of Neogen by 27.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,114,702 shares of the company's stock valued at $86,373,000 after acquiring an additional 1,521,560 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Neogen by 24.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,939,984 shares of the company's stock valued at $84,254,000 after acquiring an additional 1,345,056 shares during the last quarter. Finally, Bamco Inc. NY boosted its position in shares of Neogen by 16.2% during the 4th quarter. Bamco Inc. NY now owns 8,485,308 shares of the company's stock valued at $103,012,000 after acquiring an additional 1,182,193 shares during the last quarter. Hedge funds and other institutional investors own 96.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Guggenheim lowered their price target on Neogen from $13.00 to $10.00 and set a "buy" rating for the company in a research report on Monday, June 30th. Piper Sandler cut their price target on Neogen from $6.40 to $5.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Finally, William Blair lowered Neogen from an "outperform" rating to a "market perform" rating in a research note on Tuesday.

Insiders Place Their Bets

In other Neogen news, Director Aashima Gupta purchased 16,000 shares of the stock in a transaction on Monday, May 12th. The stock was acquired at an average price of $6.25 per share, with a total value of $100,000.00. Following the completion of the acquisition, the director owned 21,917 shares in the company, valued at $136,981.25. The trade was a 270.41% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.13% of the company's stock.

Neogen Stock Up 0.2%

NEOG traded up $0.01 on Friday, hitting $4.66. The company had a trading volume of 6,055,635 shares, compared to its average volume of 5,337,939. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.45 and a current ratio of 3.32. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -0.93 and a beta of 1.77. The stock has a fifty day moving average price of $5.27 and a 200-day moving average price of $7.33. Neogen Corporation has a 12-month low of $3.87 and a 12-month high of $17.95.

Neogen Profile

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.