Public Sector Pension Investment Board Has $6.84 Million Stake in NeoGenomics, Inc. (NASDAQ:NEO)
Public Sector Pension Investment Board trimmed its stake in NeoGenomics, Inc. (NASDAQ:NEO) by 11.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 233,884 shares of the medical research company’s stock after selling 29,800 shares during the period. Public Sector Pension Investment Board owned about 0.22% of NeoGenomics worth $6,841,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Artisan Partners Limited Partnership boosted its position in shares of NeoGenomics by 31.7% during the 4th 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 in the last quarter. State Street Corp raised its position in NeoGenomics by 2.6% during 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 in the last quarter. Granite Investment Partners LLC raised its position in NeoGenomics by 5.0% during the fourth quarter. Granite Investment Partners LLC now owns 1,920,723 shares of the medical research company’s stock worth $56,181,000 after acquiring an additional 90,617 shares in the last quarter. Granahan Investment Management Inc. MA raised its position in NeoGenomics by 5.0% during the third quarter. Granahan Investment Management Inc. MA now owns 985,218 shares of the medical research company’s stock worth $18,837,000 after acquiring an additional 47,356 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position in NeoGenomics by 18.3% during the fourth quarter. New York State Common Retirement Fund now owns 834,392 shares of the medical research company’s stock worth $24,406,000 after acquiring an additional 129,253 shares in the last quarter. Institutional investors own 89.94% of the company’s stock.
Shares of NEO traded down $1.25 during trading hours on Friday, hitting $25.47. The company had a trading volume of 1,579,402 shares, compared to its average volume of 1,255,560. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 363.91 and a beta of 1.09. The business has a fifty day moving average of $30.18 and a 200-day moving average of $26.29. NeoGenomics, Inc. has a 12 month low of $18.52 and a 12 month high of $34.97. The company has a quick ratio of 4.32, a current ratio of 4.55 and a debt-to-equity ratio of 0.23.
NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.04. The company had revenue of $106.90 million for the quarter, compared to analyst estimates of $104.25 million. NeoGenomics had a net margin of 1.96% and a return on equity of 5.27%. The company’s revenue was up 39.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 earnings per share. On average, equities analysts expect that NeoGenomics, Inc. will post 0.21 EPS for the current fiscal year.
In related news, insider Robert J. Shovlin sold 98,093 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 249,733 shares in the company, valued at $7,706,760.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven C. Jones sold 297,300 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 195,234 shares in the company, valued at $5,616,882.18. The disclosure for this sale can be found here. 8.80% of the stock is owned by corporate insiders.
Several analysts have issued reports on the stock. First Analysis raised shares of NeoGenomics from an “outperform” rating to a “strong-buy” rating and set a $35.00 price target on the stock in a research report on Friday, February 28th. ValuEngine lowered shares of NeoGenomics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. BidaskClub lowered shares of NeoGenomics from a “buy” rating to a “hold” rating in a research report on Wednesday. Benchmark upped their price target on shares of NeoGenomics from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, Needham & Company LLC upped their price target on shares of NeoGenomics from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, March 17th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $31.43.
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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