Summit Creek Advisors LLC Acquires 960 Shares of NeoGenomics, Inc. (NASDAQ:NEO)

   2019-07-28 06:07

Summit Creek Advisors LLC grew its holdings in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 0.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 348,208 shares of the medical research company’s stock after buying an additional 960 shares during the quarter. Summit Creek Advisors LLC owned approximately 0.36% of NeoGenomics worth $7,640,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. NEXT Financial Group Inc increased its stake in shares of NeoGenomics by 200.0% during the 2nd quarter. NEXT Financial Group Inc now owns 2,700 shares of the medical research company’s stock worth $59,000 after purchasing an additional 1,800 shares during the last quarter. Winslow Evans & Crocker Inc. acquired a new position in shares of NeoGenomics during the 2nd quarter worth about $92,000. Amundi Pioneer Asset Management Inc. acquired a new position in shares of NeoGenomics during the 4th quarter worth about $103,000. Great West Life Assurance Co. Can increased its stake in shares of NeoGenomics by 53.9% during the 4th quarter. Great West Life Assurance Co. Can now owns 9,851 shares of the medical research company’s stock worth $120,000 after purchasing an additional 3,451 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund acquired a new position in shares of NeoGenomics during the 1st quarter worth about $132,000. 84.08% of the stock is currently owned by hedge funds and other institutional investors.



In other NeoGenomics news, Director Raymond R. Hipp sold 150,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $22.41, for a total transaction of $3,361,500.00. Following the transaction, the director now owns 256,059 shares in the company, valued at approximately $5,738,282.19. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider William Bonello sold 7,200 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $23.53, for a total transaction of $169,416.00. Following the transaction, the insider now owns 13,935 shares in the company, valued at approximately $327,890.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 338,876 shares of company stock worth $7,674,362. Company insiders own 8.80% of the company’s stock.

Several research firms have recently weighed in on NEO. BidaskClub lowered shares of Westport Fuel Systems from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Needham & Company LLC restated a “buy” rating and set a $10.00 price objective (down from $15.00) on shares of Nabriva Therapeutics in a research note on Wednesday, May 1st. Finally, Zacks Investment Research lowered shares of Hallmark Financial Services from a “buy” rating to a “hold” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $21.22.

NEO traded up $0.41 on Friday, reaching $23.47. The company had a trading volume of 620,778 shares, compared to its average volume of 665,659. NeoGenomics, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $24.84. The firm has a market cap of $2.20 billion, a PE ratio of 180.54 and a beta of 0.78. The firm’s fifty day simple moving average is $23.00. 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 quarterly earnings results on Tuesday, April 30th. The medical research company reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.03. NeoGenomics had a negative net margin of 0.14% and a positive return on equity of 3.07%. The business had revenue of $95.60 million for the quarter, compared to analyst estimates of $89.71 million. During the same quarter in the prior year, the business earned $0.04 EPS. NeoGenomics’s quarterly revenue was up 50.8% on a year-over-year basis. Research analysts forecast that NeoGenomics, Inc. will post 0.18 earnings per share for the current fiscal year.

About NeoGenomics

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.

Further Reading: Quick Ratio

Institutional Ownership by Quarter for NeoGenomics (NASDAQ:NEO)

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