USA Financial Portformulas Corp Raises Position in NeoGenomics, Inc. (NASDAQ:NEO)

Trevor Kearing 2019-09-06 22:09

USA Financial Portformulas Corp boosted its stake in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 17.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,110 shares of the medical research company’s stock after buying an additional 2,230 shares during the quarter. USA Financial Portformulas Corp’s holdings in NeoGenomics were worth $309,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of the stock. BlackRock Inc. lifted its position in NeoGenomics by 150.5% during the first quarter. BlackRock Inc. now owns 13,825,064 shares of the medical research company’s stock valued at $282,861,000 after purchasing an additional 8,305,417 shares in the last quarter. Brown Advisory Inc. lifted its holdings in NeoGenomics by 0.3% in the 2nd quarter. Brown Advisory Inc. now owns 2,525,843 shares of the medical research company’s stock worth $55,417,000 after buying an additional 8,524 shares during the period. Emerald Advisers LLC lifted its holdings in NeoGenomics by 3.8% in the 2nd quarter. Emerald Advisers LLC now owns 1,951,061 shares of the medical research company’s stock worth $42,806,000 after buying an additional 72,160 shares during the period. Emerald Mutual Fund Advisers Trust lifted its holdings in NeoGenomics by 2.3% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 1,875,759 shares of the medical research company’s stock worth $38,378,000 after buying an additional 41,390 shares during the period. Finally, Granite Investment Partners LLC lifted its holdings in NeoGenomics by 1.6% in the 2nd quarter. Granite Investment Partners LLC now owns 1,791,477 shares of the medical research company’s stock worth $39,305,000 after buying an additional 27,387 shares during the period. Hedge funds and other institutional investors own 79.00% of the company’s stock.

In other news, insider William Bonello sold 17,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $24.83, for a total value of $422,110.00. Following the completion of the sale, the insider now directly owns 23,735 shares in the company, valued at $589,340.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven C. Jones sold 181,339 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $24.92, for a total transaction of $4,518,967.88. Following the completion of the sale, the director now owns 245,234 shares of the company’s stock, valued at $6,111,231.28. The disclosure for this sale can be found here. Insiders sold 239,676 shares of company stock valued at $5,975,330 over the last 90 days. 8.80% of the stock is owned by corporate insiders.

Several equities analysts have recently commented on NEO shares. BidaskClub upgraded NeoGenomics from a “hold” rating to a “buy” rating in a research report on Friday, July 19th. Raymond James upped their target price on NeoGenomics from $23.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Leerink Swann set a $30.00 target price on NeoGenomics and gave the stock a “buy” rating in a report on Wednesday, July 31st. Benchmark set a $27.00 target price on NeoGenomics and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Zacks Investment Research lowered NeoGenomics from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. NeoGenomics has an average rating of “Buy” and a consensus price target of $23.78.

NASDAQ NEO traded up $0.15 during trading hours on Friday, reaching $24.75. 30,695 shares of the company traded hands, compared to its average volume of 603,536. The company has a 50 day moving average of $24.67 and a two-hundred day moving average of $22.10. The company has a current ratio of 4.67, a quick ratio of 4.52 and a debt-to-equity ratio of 0.25. NeoGenomics, Inc. has a 12 month low of $11.05 and a 12 month high of $26.89. The stock has a market capitalization of $2.55 billion, a PE ratio of 190.81 and a beta of 0.97.

NeoGenomics (NASDAQ:NEO) last released its earnings results on Tuesday, July 30th. The medical research company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. The company had revenue of $101.71 million for the quarter, compared to the consensus estimate of $97.32 million. NeoGenomics had a net margin of 0.57% and a return on equity of 4.97%. The company’s revenue was up 50.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.05 EPS. On average, equities research analysts anticipate that NeoGenomics, Inc. will post 0.19 earnings per share for the current year.

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.