Victory Capital Management Inc. Decreases Holdings in NeoGenomics, Inc. (NASDAQ:NEO)

ABMN Staff 2020-03-22 15:03

Victory Capital Management Inc. cut its stake in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 11.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 280,495 shares of the medical research company’s stock after selling 34,927 shares during the period. Victory Capital Management Inc. owned about 0.27% of NeoGenomics worth $8,204,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Exchange Traded Concepts LLC purchased a new stake in NeoGenomics during the 4th quarter valued at $96,000. Sciencast Management LP purchased a new stake in NeoGenomics during the 4th quarter valued at $211,000. OLD National Bancorp IN purchased a new stake in NeoGenomics during the 4th quarter valued at $213,000. Dillon & Associates Inc. purchased a new stake in shares of NeoGenomics in the 4th quarter worth $232,000. Finally, Pinnacle Financial Partners Inc. purchased a new stake in shares of NeoGenomics in the 4th quarter worth $236,000. Institutional investors and hedge funds own 89.94% of the company’s stock.

In other NeoGenomics news, insider Robert J. Shovlin sold 98,093 shares of the stock in a transaction on 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 completion of the sale, the insider now owns 249,733 shares in the company, valued at approximately $7,706,760.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Steven C. Jones sold 297,300 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $28.77, for a total value of $8,553,321.00. Following the completion of the sale, the director now owns 195,234 shares of the company’s stock, valued at approximately $5,616,882.18. The disclosure for this sale can be found here. Corporate insiders own 8.80% of the company’s stock.

Shares of NASDAQ:NEO traded down $1.25 during midday trading 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. NeoGenomics, Inc. has a 12-month low of $18.52 and a 12-month high of $34.97. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.55 and a quick ratio of 4.32. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 363.91 and a beta of 1.09. The company has a fifty day moving average of $30.18 and a two-hundred day moving average of $26.29.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings results on Thursday, February 27th. The medical research company reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.04. NeoGenomics had a return on equity of 5.27% and a net margin of 1.96%. The business had revenue of $106.90 million during the quarter, compared to analyst estimates of $104.25 million. During the same quarter in the prior year, the business posted $0.06 EPS. NeoGenomics’s revenue for the quarter was up 39.4% compared to the same quarter last year. Research analysts expect that NeoGenomics, Inc. will post 0.21 earnings per share for the current fiscal year.

Several equities research analysts have recently commented on the company. Raymond James upped their price objective on NeoGenomics from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, March 2nd. Needham & Company LLC upped their price objective on NeoGenomics from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, March 17th. Benchmark upped their price objective on NeoGenomics from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Craig Hallum assumed coverage on NeoGenomics in a research note on Monday, March 2nd. They issued a “buy” rating and a $38.00 price objective for the company. Finally, ValuEngine lowered NeoGenomics from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. NeoGenomics currently has a consensus rating of “Buy” and a consensus target price 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.