NeoGenomics (NASDAQ:NEO) Reaches New 52-Week High at $34.92

Jared Coughlin 2020-02-18 17:02

Shares of NeoGenomics, Inc. (NASDAQ:NEO) hit a new 52-week high during trading on Tuesday . The company traded as high as $34.92 and last traded at $34.84, with a volume of 7873 shares trading hands. The stock had previously closed at $34.18.

A number of brokerages have recently commented on NEO. BidaskClub lowered NeoGenomics from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 7th. ValuEngine lowered NeoGenomics from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. First Analysis lowered NeoGenomics from a “strong-buy” rating to an “outperform” rating and lifted their price target for the company from $29.00 to $35.00 in a research note on Thursday, January 23rd. Zacks Investment Research raised NeoGenomics from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, Needham & Company LLC began coverage on NeoGenomics in a research note on Friday, January 3rd. They set a “buy” rating and a $14.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $24.29.

The company has a debt-to-equity ratio of 0.24, a current ratio of 4.24 and a quick ratio of 4.05. The company has a market capitalization of $3.57 billion, a P/E ratio of 3,427.43 and a beta of 1.03. The stock has a 50-day moving average price of $31.73 and a 200-day moving average price of $25.75.

In other news, Director Steven C. Jones sold 128,068 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $24.35, for a total transaction of $3,118,455.80. Following the completion of the transaction, the director now directly owns 195,234 shares in the company, valued at $4,753,947.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Kathryn B. Mckenzie sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $26.37, for a total value of $210,960.00. Following the transaction, the chief accounting officer now owns 10,273 shares of the company’s stock, valued at $270,899.01. The disclosure for this sale can be found here. 8.80% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its holdings in NeoGenomics by 8.0% in the second quarter. BlackRock Inc. now owns 14,925,327 shares of the medical research company’s stock worth $327,462,000 after purchasing an additional 1,100,263 shares in the last quarter. Kopp Family Office LLC bought a new stake in NeoGenomics in the fourth quarter worth approximately $141,705,000. Artisan Partners Limited Partnership increased its holdings in NeoGenomics by 31.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,932,090 shares of the medical research company’s stock worth $85,764,000 after purchasing an additional 705,037 shares in the last quarter. State Street Corp increased its holdings in NeoGenomics by 2.6% in the fourth quarter. State Street Corp now owns 2,770,947 shares of the medical research company’s stock worth $81,050,000 after purchasing an additional 69,457 shares in the last quarter. Finally, Granite Investment Partners LLC grew its stake in NeoGenomics by 5.0% in the fourth quarter. Granite Investment Partners LLC now owns 1,920,723 shares of the medical research company’s stock valued at $56,181,000 after acquiring an additional 90,617 shares during the period. Institutional investors and hedge funds own 83.22% of the company’s stock.

About NeoGenomics (NASDAQ:NEO)

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.