Franklin Resources Inc. Has $37.10 Million Holdings in NeoGenomics, Inc. (NASDAQ:NEO)
Franklin Resources Inc. cut its stake in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 15.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,268,278 shares of the medical research company’s stock after selling 234,588 shares during the period. Franklin Resources Inc.’s holdings in NeoGenomics were worth $37,097,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. ProShare Advisors LLC grew its stake in shares of NeoGenomics by 17.1% during the fourth quarter. ProShare Advisors LLC now owns 15,794 shares of the medical research company’s stock worth $462,000 after purchasing an additional 2,305 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in NeoGenomics by 4.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 120,655 shares of the medical research company’s stock valued at $3,529,000 after acquiring an additional 5,275 shares during the period. Artisan Partners Limited Partnership grew its stake 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 valued at $85,764,000 after acquiring an additional 705,037 shares during the period. Driehaus Capital Management LLC grew its stake in NeoGenomics by 54.4% in the fourth quarter. Driehaus Capital Management LLC now owns 694,800 shares of the medical research company’s stock valued at $20,323,000 after acquiring an additional 244,872 shares during the period. Finally, Citigroup Inc. grew its stake in NeoGenomics by 7.8% in the fourth quarter. Citigroup Inc. now owns 94,818 shares of the medical research company’s stock valued at $2,773,000 after acquiring an additional 6,835 shares during the period. 89.94% of the stock is owned by institutional investors and hedge funds.
NASDAQ:NEO opened at $25.64 on Friday. The company has a current ratio of 4.55, a quick ratio of 4.32 and a debt-to-equity ratio of 0.23. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of 366.34 and a beta of 1.09. The stock has a 50-day moving average price of $31.16 and a two-hundred day moving average price of $26.29. NeoGenomics, Inc. has a 1 year low of $18.52 and a 1 year high of $34.97.
NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.04. The company had revenue of $106.90 million during the quarter, compared to analysts’ expectations of $104.25 million. NeoGenomics had a return on equity of 5.27% and a net margin of 1.96%. NeoGenomics’s revenue for the quarter was up 39.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.06 earnings per share. Sell-side analysts forecast that NeoGenomics, Inc. will post 0.21 earnings per share for the current year.
A number of research analysts have issued reports on the company. Needham & Company LLC boosted their target price on NeoGenomics from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, February 28th. ValuEngine cut NeoGenomics from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. BidaskClub cut NeoGenomics from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 7th. Craig Hallum assumed coverage on NeoGenomics in a research note on Monday, March 2nd. They issued a “buy” rating and a $38.00 target price for the company. Finally, Benchmark boosted their target price on NeoGenomics from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $31.29.
In other news, Director Steven C. Jones sold 297,300 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $28.77, for a total transaction of $8,553,321.00. Following the completion of the transaction, the director now directly owns 195,234 shares of the company’s stock, valued at $5,616,882.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert J. Shovlin sold 98,093 shares of the company’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $30.86, for a total value of $3,027,149.98. Following the transaction, the insider now directly owns 249,733 shares of the company’s stock, valued at $7,706,760.38. The disclosure for this sale can be found here. 8.80% of the stock is owned by corporate insiders.
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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