Advisor Group Holdings Inc. Makes New $2.61 Million Investment in NeoGenomics, Inc. (NASDAQ:NEO)

   2020-06-30 11:06

Advisor Group Holdings Inc. acquired a new position in shares of NeoGenomics, Inc. (NASDAQ:NEO) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 97,279 shares of the medical research company’s stock, valued at approximately $2,611,000. Advisor Group Holdings Inc. owned approximately 0.09% of NeoGenomics at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. AQR Capital Management LLC grew its holdings in NeoGenomics by 49.1% during the 1st quarter. AQR Capital Management LLC now owns 140,591 shares of the medical research company’s stock worth $3,882,000 after acquiring an additional 46,270 shares in the last quarter. Invesco Ltd. grew its holdings in NeoGenomics by 68.2% during the 1st quarter. Invesco Ltd. now owns 3,861,808 shares of the medical research company’s stock worth $106,624,000 after acquiring an additional 1,565,935 shares in the last quarter. CIBC World Markets Inc. acquired a new position in NeoGenomics during the 1st quarter worth $866,000. Sunbelt Securities Inc. grew its holdings in NeoGenomics by 2,430.1% during the 1st quarter. Sunbelt Securities Inc. now owns 54,472 shares of the medical research company’s stock worth $1,634,000 after acquiring an additional 52,319 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. acquired a new position in NeoGenomics during the 1st quarter worth $30,000. 88.97% of the stock is owned by institutional investors.



A number of research analysts have recently issued reports on the stock. Craig Hallum assumed coverage on shares of NeoGenomics in a research report on Monday, March 2nd. They issued a “buy” rating and a $38.00 price target on the stock. SVB Leerink restated a “buy” rating and issued a $35.00 price target (up from $33.00) on shares of NeoGenomics in a research report on Wednesday, April 29th. Bank of America assumed coverage on shares of NeoGenomics in a research report on Thursday, June 25th. They issued a “buy” rating and a $34.00 price target on the stock. CIBC downgraded shares of NeoGenomics to a “neutral” rating and reduced their price target for the stock from $11.00 to $9.00 in a research report on Friday, May 15th. Finally, Raymond James raised their price target on shares of NeoGenomics from $28.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, March 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $30.10.

Shares of NASDAQ:NEO opened at $29.16 on Tuesday. The company has a market cap of $2.87 billion, a PE ratio of 972.32 and a beta of 0.75. The company’s 50-day moving average price is $27.71 and its 200 day moving average price is $28.77. NeoGenomics, Inc. has a fifty-two week low of $18.52 and a fifty-two week high of $34.97. The company has a quick ratio of 2.88, a current ratio of 3.18 and a debt-to-equity ratio of 0.28.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings data on Tuesday, April 28th. The medical research company reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.04). The firm had revenue of $106.03 million during the quarter, compared to the consensus estimate of $106.03 million. NeoGenomics had a net margin of 0.82% and a return on equity of 2.94%. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.03) earnings per share. As a group, equities analysts anticipate that NeoGenomics, Inc. will post -0.1 EPS for the current year.

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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Institutional Ownership by Quarter for NeoGenomics (NASDAQ:NEO)

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