Raymond James & Associates Buys 22,493 Shares of NeoGenomics, Inc. (NASDAQ:NEO)
Raymond James & Associates raised its position in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 33.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 90,546 shares of the medical research company’s stock after purchasing an additional 22,493 shares during the quarter. Raymond James & Associates owned approximately 0.09% of NeoGenomics worth $2,648,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Artisan Partners Limited Partnership lifted 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 buying an additional 705,037 shares during the period. Redwood Investments LLC acquired a new position in shares of NeoGenomics during the 4th quarter valued at $17,489,000. Driehaus Capital Management LLC lifted its position in shares of NeoGenomics by 54.4% during the 4th 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. Millennium Management LLC acquired a new position in shares of NeoGenomics during the 3rd quarter valued at $4,238,000. Finally, Candriam Luxembourg S.C.A. boosted its stake in NeoGenomics by 79.3% during 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 in the last quarter. 89.13% of the stock is owned by institutional investors and hedge funds.
Shares of NeoGenomics stock traded up $0.90 during trading hours on Thursday, reaching $27.27. The company’s stock had a trading volume of 64,731 shares, compared to its average volume of 1,295,236. NeoGenomics, Inc. has a one year low of $18.52 and a one year high of $34.97. The company has a market capitalization of $2.86 billion, a P/E ratio of 386.84 and a beta of 1.09. The stock’s fifty day simple moving average is $29.49 and its two-hundred day simple moving average is $26.31. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.32 and a current ratio of 4.55.
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 consensus estimate of $0.06 by $0.04. NeoGenomics had a net margin of 1.96% and a return on equity of 5.27%. The company had revenue of $106.90 million during the quarter, compared to the consensus estimate of $104.25 million. During the same period in the previous year, the firm posted $0.06 earnings per share. The firm’s revenue for the quarter was up 39.4% on a year-over-year basis. As a group, research analysts forecast that NeoGenomics, Inc. will post 0.21 earnings per share for the current year.
In other NeoGenomics news, 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 value 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 approximately $5,616,882.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert J. Shovlin sold 98,093 shares of the stock in a transaction that occurred 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 sale, 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. Insiders own 8.80% of the company’s stock.
Several research firms have weighed in on NEO. Craig Hallum started coverage on shares of NeoGenomics in a research note on Monday, March 2nd. They issued a “buy” rating and a $38.00 price target for the company. BidaskClub upgraded NeoGenomics from a “hold” rating to a “buy” rating in a research note on Thursday. Raymond James boosted their target price on NeoGenomics from $28.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, March 2nd. Needham & Company LLC upped their price target on NeoGenomics from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, March 17th. Finally, First Analysis upgraded 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. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $31.43.
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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