Exchange Traded Concepts LLC Purchases 7,468 Shares of NeoGenomics, Inc. (NASDAQ:NEO)
Exchange Traded Concepts LLC raised its stake in NeoGenomics, Inc. (NASDAQ:NEO) by 146.9% in the second quarter, Holdings Channel reports. The firm owned 12,551 shares of the medical research company’s stock after acquiring an additional 7,468 shares during the quarter. Exchange Traded Concepts LLC’s holdings in NeoGenomics were worth $389,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the business. Envestnet Asset Management Inc. increased its position in shares of NeoGenomics by 24.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 49,716 shares of the medical research company’s stock worth $1,454,000 after purchasing an additional 9,886 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of NeoGenomics by 17.1% in the fourth quarter. ProShare Advisors LLC now owns 15,794 shares of the medical research company’s stock valued at $462,000 after buying an additional 2,305 shares in the last quarter. Raymond James & Associates increased its holdings in NeoGenomics by 33.1% during the fourth quarter. Raymond James & Associates now owns 90,546 shares of the medical research company’s stock worth $2,648,000 after buying an additional 22,493 shares during the last quarter. Credit Suisse AG raised its position in NeoGenomics by 10.9% during the fourth quarter. Credit Suisse AG now owns 106,675 shares of the medical research company’s stock worth $3,120,000 after acquiring an additional 10,507 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in NeoGenomics by 0.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 83,135 shares of the medical research company’s stock worth $2,432,000 after acquiring an additional 614 shares in the last quarter. Hedge funds and other institutional investors own 88.78% of the company’s stock.
NASDAQ:NEO opened at $36.41 on Friday. NeoGenomics, Inc. has a one year low of $18.52 and a one year high of $36.94. The company has a market cap of $3.86 billion, a P/E ratio of 1,214.07 and a beta of 0.76. The firm’s fifty day moving average price is $30.03 and its two-hundred day moving average price is $29.36. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.18 and a quick ratio of 2.88.
NeoGenomics (NASDAQ:NEO) last released its quarterly earnings data on Tuesday, April 28th. The medical research company reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.04). NeoGenomics had a net margin of 0.82% and a return on equity of 2.94%. The company had revenue of $106.03 million during the quarter, compared to analyst estimates of $106.03 million. During the same quarter in the prior year, the firm earned ($0.03) earnings per share. NeoGenomics’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, equities research analysts expect that NeoGenomics, Inc. will post -0.1 earnings per share for the current year.
Several analysts have issued reports on the stock. CIBC lowered shares of NeoGenomics to a “neutral” rating and dropped their price target for the stock from $11.00 to $9.00 in a research report on Friday, May 15th. Stephens assumed coverage on shares of NeoGenomics in a research report on Tuesday, April 21st. They set an “overweight” rating and a $33.00 price target on the stock. Zacks Investment Research lowered shares of NeoGenomics from a “hold” rating to a “sell” rating in a research report on Tuesday, June 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $33.00 price target on shares of NeoGenomics in a research report on Wednesday, May 27th. Finally, Bank of America assumed coverage on shares of NeoGenomics in a research report on Thursday, June 25th. They set a “buy” rating and a $34.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $30.10.
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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