Wrapmanager Inc. decreased its stake in NeoGenomics, Inc. (NASDAQ:NEO) by 35.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,959 shares of the medical research company’s stock after selling 4,280 shares during the quarter. Wrapmanager Inc.’s holdings in NeoGenomics were worth $220,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in NEO. State Street Corp grew its position in shares of NeoGenomics by 4.9% in the third quarter. State Street Corp now owns 2,701,490 shares of the medical research company’s stock valued at $51,652,000 after purchasing an additional 126,750 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in NeoGenomics by 43.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,298 shares of the medical research company’s stock worth $243,000 after buying an additional 2,520 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in NeoGenomics during the 4th quarter worth $96,000. Strs Ohio raised its position in NeoGenomics by 15.0% during the 4th quarter. Strs Ohio now owns 133,300 shares of the medical research company’s stock worth $3,899,000 after buying an additional 17,400 shares during the last quarter. Finally, New York State Teachers Retirement System raised its position in NeoGenomics by 1.8% during the 4th quarter. New York State Teachers Retirement System now owns 143,567 shares of the medical research company’s stock worth $4,199,000 after buying an additional 2,600 shares during the last quarter. Institutional investors and hedge funds own 86.77% of the company’s stock.
In other NeoGenomics news, Director Steven C. Jones sold 297,300 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $28.77, for a total transaction of $8,553,321.00. Following the sale, the director now directly owns 195,234 shares of the company’s stock, valued at approximately $5,616,882.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert J. Shovlin sold 98,093 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $30.86, for a total transaction of $3,027,149.98. Following the sale, the insider now directly owns 249,733 shares in the company, valued at $7,706,760.38. The disclosure for this sale can be found here. 6.50% of the stock is owned by company insiders.
A number of research firms have recently weighed in on NEO. Raymond James upped their price target on shares of NeoGenomics from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, March 2nd. Craig Hallum began coverage on shares of NeoGenomics in a research note on Monday, March 2nd. They set a “buy” rating and a $38.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $33.00 price target on shares of NeoGenomics in a research note on Wednesday, April 29th. ValuEngine cut shares of NeoGenomics from a “buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, SVB Leerink reaffirmed a “buy” rating and set a $35.00 price target (up from $33.00) on shares of NeoGenomics in a research note on Wednesday, April 29th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. NeoGenomics presently has an average rating of “Buy” and a consensus target price of $29.67.
Shares of NASDAQ NEO opened at $28.18 on Friday. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of 939.65 and a beta of 0.79. NeoGenomics, Inc. has a 52 week low of $18.52 and a 52 week high of $34.97. The company’s 50-day moving average price is $27.58 and its 200 day moving average price is $28.17. The company has a current ratio of 3.18, a quick ratio of 2.88 and a debt-to-equity ratio of 0.28.
NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings data on Tuesday, April 28th. The medical research company reported ($0.02) EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.04). The business had revenue of $106.03 million during the quarter, compared to analyst estimates of $106.03 million. NeoGenomics had a net margin of 0.82% and a return on equity of 2.94%. NeoGenomics’s revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.03) earnings per share. As a group, research analysts expect that NeoGenomics, Inc. will post -0.12 earnings per share for the current year.
NeoGenomics Company Profile
NeoGenomics, Inc, together with its subsidiaries, operates a network of cancer-focused genetic testing laboratories in the United States; and laboratories in Switzerland and Singapore. It operates in two segments, Clinical Services and Pharma Services. The company's laboratories provide genetic and molecular testing services to hospitals, pathologists, oncologists, urologists, other clinicians and researchers, pharmaceutical firms, academic centers, and other clinical laboratories.
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