California Public Employees Retirement System Raises Stock Position in NeoGenomics, Inc. (NASDAQ:NEO)
California Public Employees Retirement System increased its stake in NeoGenomics, Inc. (NASDAQ:NEO) by 8.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 232,976 shares of the medical research company’s stock after acquiring an additional 17,949 shares during the quarter. California Public Employees Retirement System owned approximately 0.21% of NeoGenomics worth $7,218,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Oppenheimer Asset Management Inc. increased its holdings in NeoGenomics by 158.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 18,936 shares of the medical research company’s stock worth $586,000 after acquiring an additional 11,602 shares in the last quarter. Macquarie Group Ltd. increased its holdings in NeoGenomics by 33.0% in the 2nd quarter. Macquarie Group Ltd. now owns 4,219 shares of the medical research company’s stock worth $131,000 after acquiring an additional 1,046 shares in the last quarter. Magnus Financial Group LLC purchased a new stake in NeoGenomics in the 2nd quarter worth $283,000. Bullseye Asset Management LLC increased its holdings in NeoGenomics by 27.7% in the 2nd quarter. Bullseye Asset Management LLC now owns 110,385 shares of the medical research company’s stock worth $3,420,000 after acquiring an additional 23,975 shares in the last quarter. Finally, Synovus Financial Corp increased its holdings in NeoGenomics by 33.2% in the 2nd quarter. Synovus Financial Corp now owns 15,823 shares of the medical research company’s stock worth $490,000 after acquiring an additional 3,940 shares in the last quarter. 91.67% of the stock is owned by institutional investors.
A number of equities research analysts have recently issued reports on NEO shares. Zacks Investment Research lowered shares of NeoGenomics from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. SVB Leerink upped their target price on shares of NeoGenomics from $35.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Benchmark upped their target price on shares of NeoGenomics from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Craig Hallum upped their target price on shares of NeoGenomics from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Finally, Raymond James upped their target price on shares of NeoGenomics from $32.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $36.73.
In other news, insider Robert J. Shovlin sold 81,356 shares of the firm’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $38.17, for a total value of $3,105,358.52. Following the completion of the transaction, the insider now owns 212,902 shares in the company, valued at $8,126,469.34. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider George Cardoza sold 82,500 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $39.35, for a total value of $3,246,375.00. Following the completion of the transaction, the insider now owns 433,402 shares of the company’s stock, valued at approximately $17,054,368.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 198,856 shares of company stock valued at $7,711,404. Company insiders own 6.50% of the company’s stock.
NASDAQ NEO opened at $35.80 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 6.79 and a quick ratio of 6.44. The firm’s 50-day moving average is $38.39 and its two-hundred day moving average is $31.05. NeoGenomics, Inc. has a 12 month low of $18.52 and a 12 month high of $41.03. The stock has a market capitalization of $4.08 billion, a P/E ratio of -716.00 and a beta of 0.80.
NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings results on Tuesday, July 28th. The medical research company reported ($0.04) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.06. NeoGenomics had a positive return on equity of 0.73% and a negative net margin of 1.33%. The firm had revenue of $86.90 million during the quarter, compared to the consensus estimate of $86.55 million. During the same period last year, the company earned $0.07 earnings per share. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. As a group, analysts anticipate that NeoGenomics, Inc. will post -0.01 EPS for the current year.
NeoGenomics 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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