ClariVest Asset Management LLC Grows Stock Holdings in NeoGenomics, Inc. (NASDAQ:NEO)
ClariVest Asset Management LLC grew its stake in NeoGenomics, Inc. (NASDAQ:NEO) by 288.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,679 shares of the medical research company’s stock after purchasing an additional 83,695 shares during the period. ClariVest Asset Management LLC owned approximately 0.12% of NeoGenomics worth $2,304,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Los Angeles Capital Management & Equity Research Inc. increased its stake in NeoGenomics by 29.0% in the 4th quarter. Los Angeles Capital Management & Equity Research Inc. now owns 64,134 shares of the medical research company’s stock worth $809,000 after purchasing an additional 14,405 shares during the period. Oberweis Asset Management Inc. purchased a new position in shares of NeoGenomics in the 4th quarter worth about $816,000. Castleark Management LLC raised its stake in NeoGenomics by 131.7% in the 4th quarter. Castleark Management LLC now owns 674,234 shares of the medical research company’s stock valued at $8,502,000 after acquiring an additional 383,300 shares during the period. American Capital Management Inc. bought a new stake in NeoGenomics in the 4th quarter valued at about $495,000. Finally, Convergence Investment Partners LLC bought a new stake in shares of NeoGenomics during the fourth quarter valued at about $252,000. 84.23% of the stock is owned by institutional investors and hedge funds.
Shares of NEO stock traded up $0.23 during trading hours on Friday, reaching $23.28. 450,471 shares of the company traded hands, compared to its average volume of 968,281. The stock’s 50-day moving average price is $22.52. The stock has a market cap of $2.20 billion, a P/E ratio of 179.08 and a beta of 0.78. NeoGenomics, Inc. has a 12-month low of $11.05 and a 12-month high of $24.84. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.46 and a current ratio of 1.59.
NeoGenomics (NASDAQ:NEO) last announced its earnings results on Tuesday, April 30th. The medical research company reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.03. NeoGenomics had a positive return on equity of 3.07% and a negative net margin of 0.14%. The firm had revenue of $95.60 million during the quarter, compared to analysts’ expectations of $89.71 million. During the same quarter in the previous year, the business earned $0.04 EPS. The company’s quarterly revenue was up 50.8% on a year-over-year basis. Sell-side analysts expect that NeoGenomics, Inc. will post 0.18 EPS for the current fiscal year.
Several equities research analysts have recently weighed in on the company. BidaskClub upgraded NeoGenomics from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 30th. Zacks Investment Research upgraded NeoGenomics from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Saturday, May 4th. CIBC upgraded NeoGenomics from a “neutral” rating to an “outperform” rating and decreased their target price for the company from $18.00 to $15.00 in a report on Tuesday, March 12th. Finally, Needham & Company LLC increased their price objective on NeoGenomics from $19.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, March 29th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. NeoGenomics presently has an average rating of “Buy” and an average price target of $21.11.
In other news, Director Raymond R. Hipp sold 150,000 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $22.41, for a total value of $3,361,500.00. Following the transaction, the director now directly owns 256,059 shares of the company’s stock, valued at $5,738,282.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider George Cardoza sold 151,676 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $22.82, for a total value of $3,461,246.32. Following the completion of the transaction, the insider now directly owns 452,507 shares in the company, valued at $10,326,209.74. The disclosure for this sale can be found here. Insiders sold 338,876 shares of company stock worth $7,674,362 over the last three months. Corporate insiders own 8.80% of the company’s stock.
NeoGenomics 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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