Neogen Corporation (NASDAQ:NEOG) Shares Sold by Brown Advisory Inc.

Brown Advisory Inc. trimmed its position in shares of Neogen Corporation (NASDAQ:NEOG - Free Report) by 42.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 78,950 shares of the company's stock after selling 57,886 shares during the period. Brown Advisory Inc.'s holdings in Neogen were worth $684,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in NEOG. Bank Pictet & Cie Europe AG boosted its holdings in Neogen by 6.5% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 132,000 shares of the company's stock valued at $1,602,000 after purchasing an additional 8,000 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Neogen by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,061,927 shares of the company's stock valued at $25,032,000 after purchasing an additional 52,663 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Neogen in the fourth quarter valued at approximately $2,744,000. PNC Financial Services Group Inc. boosted its holdings in shares of Neogen by 69.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 33,184 shares of the company's stock valued at $403,000 after acquiring an additional 13,639 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Neogen in the fourth quarter valued at approximately $503,000. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

Neogen Price Performance

Neogen stock traded down $0.05 during midday trading on Wednesday, reaching $4.92. 4,786,328 shares of the company were exchanged, compared to its average volume of 3,611,123. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -2.21 and a beta of 1.77. The firm's 50-day simple moving average is $5.57 and its 200-day simple moving average is $7.90. Neogen Corporation has a 1 year low of $3.87 and a 1 year high of $18.58. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.45 and a current ratio of 3.91.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NEOG. Piper Sandler decreased their price target on Neogen from $6.40 to $5.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Guggenheim dropped 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.

Insider Buying and Selling

In other Neogen news, Director Aashima Gupta purchased 16,000 shares of the stock in a transaction on Monday, May 12th. The stock was bought at an average price of $6.25 per share, for a total transaction of $100,000.00. Following the acquisition, the director directly owned 21,917 shares of the company's stock, valued at $136,981.25. This represents a 270.41% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider Amy M. Rocklin bought 12,500 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The shares were purchased at an average price of $4.99 per share, with a total value of $62,375.00. Following the acquisition, the insider directly owned 36,287 shares in the company, valued at approximately $181,072.13. This trade represents a 52.55% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 73,500 shares of company stock worth $380,825. 1.13% of the stock is owned by company insiders.

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.