HighTower Advisors LLC Sells 3,000 Shares of NeoGenomics, Inc. (NEO)

HighTower Advisors LLC cut its stake in NeoGenomics, Inc. (NASDAQ:NEO) by 1.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 255,489 shares of the medical research company’s stock after selling 3,000 shares during the period. HighTower Advisors LLC owned about 0.32% of NeoGenomics worth $2,289,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in NEO. Cambridge Investment Research Advisors Inc. boosted its holdings in NeoGenomics by 7.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,600 shares of the medical research company’s stock valued at $107,000 after purchasing an additional 1,000 shares during the period. Wrapmanager Inc. purchased a new position in NeoGenomics in the second quarter valued at $109,000. KCG Holdings Inc. purchased a new position in NeoGenomics in the first quarter valued at $118,000. OLD National Bancorp IN purchased a new position in NeoGenomics in the second quarter valued at $141,000. Finally, Parkwood LLC purchased a new position in NeoGenomics in the second quarter valued at $165,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

In other NeoGenomics news, Director Alison L. Hannah bought 20,000 shares of the stock in a transaction dated Thursday, July 27th. The stock was bought at an average cost of $9.19 per share, for a total transaction of $183,800.00. Following the completion of the purchase, the director now directly owns 38,782 shares of the company’s stock, valued at $356,406.58. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 11.20% of the stock is owned by company insiders.

A number of research analysts recently issued reports on the company. BidaskClub upgraded NeoGenomics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 19th. Zacks Investment Research upgraded NeoGenomics from a “sell” rating to a “hold” rating in a report on Saturday, July 29th. ValuEngine upgraded NeoGenomics from a “sell” rating to a “hold” rating in a report on Friday, June 23rd. BTIG Research lowered NeoGenomics from a “buy” rating to a “neutral” rating in a report on Monday, September 11th. Finally, Gabelli assumed coverage on NeoGenomics in a report on Thursday, August 24th. They issued a “buy” rating and a $9.00 target price for the company. Two analysts have rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. NeoGenomics currently has an average rating of “Hold” and a consensus target price of $10.33.

Shares of NeoGenomics, Inc. (NASDAQ NEO) opened at 11.04 on Friday. The firm’s 50-day moving average price is $10.42 and its 200-day moving average price is $8.84. NeoGenomics, Inc. has a one year low of $6.90 and a one year high of $11.63. The stock’s market capitalization is $876.44 million.

NeoGenomics (NASDAQ:NEO) last announced its earnings results on Tuesday, July 25th. The medical research company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.03. The company had revenue of $66.09 million during the quarter, compared to the consensus estimate of $62.95 million. NeoGenomics had a positive return on equity of 6.09% and a negative net margin of 2.81%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $0.04 earnings per share. Equities research analysts anticipate that NeoGenomics, Inc. will post $0.18 EPS for the current fiscal year.

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NeoGenomics Profile

NeoGenomics, Inc is an operator of a network of cancer-focused genetic testing laboratories. The Company operates in Laboratory Testing Segment. This segment delivers testing services to hospitals, pathologists, oncologists, other clinicians and researchers. It has laboratory locations in Ft. Myers and Tampa, Florida; Aliso Viejo, Fresno, Irvine, and West Sacramento, California; Houston, Texas and Nashville, and Tennessee.

Institutional Ownership by Quarter for NeoGenomics (NASDAQ:NEO)

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