Baillie Gifford & Co. Sells 590,127 Shares of Neogen Corporation (NASDAQ:NEOG)

Baillie Gifford & Co. lessened its holdings in Neogen Corporation (NASDAQ:NEOG) by 6.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,158,876 shares of the company’s stock after selling 590,127 shares during the period. Baillie Gifford & Co. owned approximately 4.22% of Neogen worth $79,407,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of NEOG. Versant Capital Management Inc increased its position in Neogen by 1,495.4% in the first quarter. Versant Capital Management Inc now owns 3,127 shares of the company’s stock worth $27,000 after purchasing an additional 2,931 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in Neogen during the fourth quarter worth $43,000. Covestor Ltd boosted its stake 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 buying an additional 1,202 shares during the period. KBC Group NV boosted its stake in Neogen by 44.1% during the first quarter. KBC Group NV now owns 12,198 shares of the company’s stock worth $106,000 after buying an additional 3,734 shares during the period. Finally, CHICAGO TRUST Co NA boosted its stake in Neogen by 19.1% during the first quarter. CHICAGO TRUST Co NA now owns 12,498 shares of the company’s stock worth $108,000 after buying an additional 2,000 shares during the period. Institutional investors own 96.73% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Piper Sandler dropped their price objective on shares of Neogen from $6.40 to $5.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. Guggenheim dropped their price objective on shares of Neogen from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, June 30th.

Insider Activity

In related news, Director Aashima Gupta bought 16,000 shares of the stock in a transaction dated Monday, May 12th. The stock was purchased at an average cost of $6.25 per share, with a total value of $100,000.00. Following the completion of the purchase, the director owned 21,917 shares of the company’s stock, valued at $136,981.25. This trade represents a 270.41% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.13% of the company’s stock.

Neogen Stock Up 2.0%

Shares of NEOG opened at $5.22 on Friday. The firm has a market capitalization of $1.13 billion, a P/E ratio of -2.34 and a beta of 1.77. Neogen Corporation has a 12-month low of $3.87 and a 12-month high of $18.58. The company has a current ratio of 3.91, a quick ratio of 2.45 and a debt-to-equity ratio of 0.33. The firm has a fifty day moving average price of $5.38 and a 200-day moving average price of $7.55.

Neogen Company 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.