NeoGenomics, Inc. (NASDAQ:NEO) CEO Sells $4,515,000.00 in Stock –
NeoGenomics, Inc. (NASDAQ:NEO) CEO Oort Douglas M. Van sold 187,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $24.08, for a total value of $4,515,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,283,481 shares of the company’s stock, valued at $54,986,222.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
NEO traded up $0.11 on Thursday, reaching $24.53. The company’s stock had a trading volume of 592,400 shares, compared to its average volume of 977,806. The company has a quick ratio of 4.05, a current ratio of 4.24 and a debt-to-equity ratio of 0.24. NeoGenomics, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $26.89. The stock has a 50 day moving average of $21.39 and a two-hundred day moving average of $22.70. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of 188.69 and a beta of 0.94.
NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings data on Tuesday, October 29th. The medical research company reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.01. NeoGenomics had a return on equity of 4.60% and a net margin of 0.55%. The company had revenue of $104.70 million during the quarter, compared to analysts’ expectations of $99.38 million. During the same quarter in the previous year, the business earned $0.05 earnings per share. The firm’s revenue for the quarter was up 51.5% on a year-over-year basis. As a group, analysts anticipate that NeoGenomics, Inc. will post 0.19 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the business. Commonwealth Equity Services LLC lifted its stake in NeoGenomics by 3.8% in the second quarter. Commonwealth Equity Services LLC now owns 25,647 shares of the medical research company’s stock valued at $562,000 after buying an additional 945 shares during the last quarter. Synovus Financial Corp purchased a new stake in NeoGenomics in the third quarter valued at approximately $393,000. BlackRock Inc. lifted its stake in NeoGenomics by 8.0% in the second quarter. BlackRock Inc. now owns 14,925,327 shares of the medical research company’s stock valued at $327,462,000 after buying an additional 1,100,263 shares during the last quarter. Prudential Financial Inc. lifted its stake in NeoGenomics by 8.1% in the second quarter. Prudential Financial Inc. now owns 163,570 shares of the medical research company’s stock valued at $3,589,000 after buying an additional 12,250 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in NeoGenomics by 33.7% in the second quarter. Envestnet Asset Management Inc. now owns 36,908 shares of the medical research company’s stock valued at $810,000 after buying an additional 9,309 shares during the last quarter. Institutional investors own 84.83% of the company’s stock.
A number of brokerages recently issued reports on NEO. Benchmark set a $27.00 price target on NeoGenomics and gave the company a “buy” rating in a report on Wednesday, July 31st. Leerink Swann set a $30.00 price target on NeoGenomics and gave the company a “buy” rating in a report on Wednesday, July 31st. William Blair reaffirmed an “outperform” rating on shares of NeoGenomics in a report on Tuesday, October 29th. Zacks Investment Research raised NeoGenomics from a “sell” rating to a “hold” rating in a report on Tuesday, November 5th. Finally, BidaskClub raised NeoGenomics from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $25.00.
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.
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