State of Tennessee Treasury Department Has $1.57 Million Holdings in NeoGenomics, Inc. (NASDAQ:NEO)
State of Tennessee Treasury Department cut its position in NeoGenomics, Inc. (NASDAQ:NEO) by 12.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,495 shares of the medical research company’s stock after selling 7,426 shares during the period. State of Tennessee Treasury Department owned 0.05% of NeoGenomics worth $1,565,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Pinnacle Financial Partners Inc. bought a new position in shares of NeoGenomics in the fourth quarter worth about $236,000. State Street Corp raised its stake in shares of 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 acquiring an additional 69,457 shares during the last quarter. Swiss National Bank raised its stake in shares of NeoGenomics by 3.2% in the fourth quarter. Swiss National Bank now owns 188,900 shares of the medical research company’s stock worth $5,525,000 after acquiring an additional 5,800 shares during the last quarter. Oak Ridge Investments LLC raised its stake in shares of NeoGenomics by 4.3% in the fourth quarter. Oak Ridge Investments LLC now owns 538,950 shares of the medical research company’s stock worth $15,764,000 after acquiring an additional 22,448 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. raised its stake in shares of NeoGenomics by 79.3% in the fourth quarter. Candriam Luxembourg S.C.A. now owns 466,584 shares of the medical research company’s stock worth $13,648,000 after acquiring an additional 206,383 shares during the last quarter. Hedge funds and other institutional investors own 83.22% of the company’s stock.
NEO opened at $32.49 on Friday. 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 cap of $3.46 billion, a price-to-earnings ratio of 3,252.25 and a beta of 1.03. The firm has a 50 day simple moving average of $32.08 and a 200 day simple moving average of $25.92. NeoGenomics, Inc. has a fifty-two week low of $18.00 and a fifty-two week high of $34.97.
A number of brokerages have weighed in on NEO. BidaskClub downgraded shares of NeoGenomics from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 7th. Needham & Company LLC began coverage on shares of NeoGenomics in a research note on Friday, January 3rd. They issued a “buy” rating and a $14.00 target price for the company. ValuEngine downgraded shares of NeoGenomics from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. First Analysis downgraded shares of NeoGenomics from a “strong-buy” rating to an “outperform” rating and boosted their target price for the stock from $29.00 to $35.00 in a research note on Thursday, January 23rd. Finally, Zacks Investment Research raised shares of NeoGenomics from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. NeoGenomics has a consensus rating of “Buy” and a consensus target price of $24.29.
In related news, CAO Kathryn B. Mckenzie sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $26.37, for a total transaction of $210,960.00. Following the completion of the sale, the chief accounting officer now directly owns 10,273 shares of the company’s stock, valued at $270,899.01. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 8.80% of the company’s stock.
NeoGenomics Company 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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