NeoGenomics, Inc. (NASDAQ:NEO) Shares Sold by Amalgamated Bank
Amalgamated Bank lowered its holdings in NeoGenomics, Inc. (NASDAQ:NEO) by 3.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,550 shares of the medical research company’s stock after selling 638 shares during the period. Amalgamated Bank’s holdings in NeoGenomics were worth $544,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in NEO. Invesco Ltd. grew its holdings in shares of NeoGenomics by 68.2% in the first quarter. Invesco Ltd. now owns 3,861,808 shares of the medical research company’s stock valued at $106,624,000 after purchasing an additional 1,565,935 shares in the last quarter. Fred Alger Management LLC grew its holdings in shares of NeoGenomics by 273.0% in the first quarter. Fred Alger Management LLC now owns 800,906 shares of the medical research company’s stock valued at $22,113,000 after purchasing an additional 586,202 shares in the last quarter. Jennison Associates LLC grew its holdings in NeoGenomics by 1,203.9% during the 2nd quarter. Jennison Associates LLC now owns 395,699 shares of the medical research company’s stock worth $12,259,000 after acquiring an additional 365,352 shares in the last quarter. Federated Hermes Inc. grew its holdings in NeoGenomics by 39.4% during the 1st quarter. Federated Hermes Inc. now owns 1,153,014 shares of the medical research company’s stock worth $31,835,000 after acquiring an additional 325,881 shares in the last quarter. Finally, State Street Corp grew its holdings in NeoGenomics by 8.5% during the 1st quarter. State Street Corp now owns 3,007,606 shares of the medical research company’s stock worth $83,040,000 after acquiring an additional 236,659 shares in the last quarter. Hedge funds and other institutional investors own 88.78% of the company’s stock.
Several research firms have commented on NEO. SVB Leerink boosted their price target on shares of NeoGenomics from $35.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Needham & Company LLC boosted their price target on shares of NeoGenomics from $33.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Raymond James boosted their price target on shares of NeoGenomics from $32.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. ValuEngine cut shares of NeoGenomics from a “buy” rating to a “hold” rating in a report on Friday, May 1st. Finally, Bank of America began coverage on shares of NeoGenomics in a report on Thursday, June 25th. They set a “buy” rating and a $34.00 price target for the company. Three analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. NeoGenomics presently has a consensus rating of “Buy” and a consensus target price of $36.73.
Shares of NeoGenomics stock opened at $38.60 on Friday. The company has a fifty day simple moving average of $37.99 and a 200-day simple moving average of $30.86. NeoGenomics, Inc. has a 12-month low of $18.52 and a 12-month high of $41.03. The stock has a market cap of $4.17 billion, a price-to-earnings ratio of 1,257.33 and a beta of 0.82. The company has a current ratio of 6.79, a quick ratio of 6.44 and a debt-to-equity ratio of 0.32.
NeoGenomics (NASDAQ:NEO) last released its quarterly earnings results on Tuesday, July 28th. The medical research company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.06. NeoGenomics had a negative net margin of 1.33% and a positive return on equity of 0.73%. The firm had revenue of $86.90 million during the quarter, compared to the consensus estimate of $86.55 million. During the same quarter in the prior year, the firm earned $0.07 EPS. NeoGenomics’s revenue for the quarter was down 14.6% on a year-over-year basis. On average, analysts forecast that NeoGenomics, Inc. will post -0.01 earnings per share for the current fiscal year.
In other NeoGenomics news, insider William Bonello sold 22,000 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $38.61, for a total transaction of $849,420.00. Following the completion of the transaction, the insider now owns 32,096 shares in the company, valued at approximately $1,239,226.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Robert J. Shovlin sold 81,356 shares of the company’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $38.17, for a total transaction of $3,105,358.52. Following the transaction, the insider now owns 212,902 shares of the company’s stock, valued at approximately $8,126,469.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 198,856 shares of company stock valued at $7,711,404. 6.50% of the stock is owned by insiders.
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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