Kopp Family Office LLC Invests $141.71 Million in NeoGenomics, Inc. (NASDAQ:NEO)
Kopp Family Office LLC bought a new position in NeoGenomics, Inc. (NASDAQ:NEO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,844,625 shares of the medical research company’s stock, valued at approximately $141,705,000. NeoGenomics comprises about 90.1% of Kopp Family Office LLC’s investment portfolio, making the stock its largest position. Kopp Family Office LLC owned 4.64% of NeoGenomics as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in NEO. Oppenheimer Asset Management Inc. lifted its stake in NeoGenomics by 503.9% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 936 shares of the medical research company’s stock valued at $28,000 after purchasing an additional 781 shares during the last quarter. Sowell Financial Services LLC lifted its stake in NeoGenomics by 66.1% during the fourth quarter. Sowell Financial Services LLC now owns 1,742 shares of the medical research company’s stock valued at $51,000 after purchasing an additional 693 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in NeoGenomics during the fourth quarter valued at approximately $96,000. Penserra Capital Management LLC acquired a new stake in NeoGenomics during the fourth quarter valued at approximately $189,000. Finally, Sciencast Management LP acquired a new stake in NeoGenomics during the fourth quarter valued at approximately $211,000. 89.94% of the stock is owned by institutional investors.
In other NeoGenomics news, insider Robert J. Shovlin sold 98,093 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $30.86, for a total value of $3,027,149.98. Following the completion of the sale, the insider now directly owns 249,733 shares of the company’s stock, valued at approximately $7,706,760.38. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Steven C. Jones sold 297,300 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $28.77, for a total transaction of $8,553,321.00. Following the completion of the sale, the director now directly owns 195,234 shares of the company’s stock, valued at $5,616,882.18. The disclosure for this sale can be found here. 8.80% of the stock is currently owned by corporate insiders.
A number of equities research analysts have recently issued reports on NEO shares. Craig Hallum started coverage on shares of NeoGenomics in a report on Monday, March 2nd. They set a “buy” rating and a $38.00 price target on the stock. Needham & Company LLC boosted their price target on shares of NeoGenomics from $32.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday. Benchmark boosted their price target on shares of NeoGenomics from $27.00 to $30.00 and gave the company a “buy” rating in a report on Friday, February 28th. First Analysis upgraded shares of NeoGenomics from an “outperform” rating to a “strong-buy” rating and set a $35.00 price target on the stock in a report on Friday, February 28th. Finally, ValuEngine lowered shares of NeoGenomics from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $31.43.
NEO stock traded up $0.68 during trading hours on Friday, hitting $27.40. The company’s stock had a trading volume of 6,117 shares, compared to its average volume of 1,207,423. The company has a quick ratio of 4.32, a current ratio of 4.55 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $2.78 billion, a PE ratio of 387.20 and a beta of 1.09. NeoGenomics, Inc. has a 12 month low of $18.52 and a 12 month high of $34.97. The stock has a 50 day moving average price of $30.31 and a two-hundred day moving average price of $26.28.
NeoGenomics (NASDAQ:NEO) last posted its earnings results on Thursday, February 27th. The medical research company reported $0.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.04. The company had revenue of $106.90 million during the quarter, compared to the consensus estimate of $104.25 million. NeoGenomics had a net margin of 1.96% and a return on equity of 5.27%. The company’s revenue for the quarter was up 39.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.06 earnings per share. Sell-side analysts expect that NeoGenomics, Inc. will post 0.21 earnings per share for the current year.
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.
Further Reading: What is a resistance level?
Want to see what other hedge funds are holding NEO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NeoGenomics, Inc. (NASDAQ:NEO).
Receive News & Ratings for NeoGenomics Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for NeoGenomics and related companies with MarketBeat.com’s FREE daily email newsletter.
Original Source