Goldman Sachs Group Inc. Reduces Stake in NeoGenomics, Inc. (NASDAQ:NEO) – Ticker Report
Goldman Sachs Group Inc. lowered its holdings in NeoGenomics, Inc. (NASDAQ:NEO) by 24.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 457,802 shares of the medical research company’s stock after selling 150,118 shares during the quarter. Goldman Sachs Group Inc. owned about 0.41% of NeoGenomics worth $14,183,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in NEO. C M Bidwell & Associates Ltd. acquired a new stake in shares of NeoGenomics in the 1st quarter valued at approximately $30,000. Carroll Financial Associates Inc. purchased a new stake in shares of NeoGenomics in the second quarter valued at $31,000. Cullen Frost Bankers Inc. acquired a new position in NeoGenomics in the second quarter valued at $31,000. Jacobi Capital Management LLC boosted its holdings in NeoGenomics by 70.1% in the second quarter. Jacobi Capital Management LLC now owns 3,401 shares of the medical research company’s stock valued at $62,000 after acquiring an additional 1,401 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC boosted its holdings in NeoGenomics by 108.3% in the second quarter. Prime Capital Investment Advisors LLC now owns 2,083 shares of the medical research company’s stock valued at $65,000 after acquiring an additional 1,083 shares during the last quarter. Institutional investors and hedge funds own 91.67% of the company’s stock.
In other NeoGenomics news, Director Steven C. Jones sold 37,991 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $37.13, for a total value of $1,410,605.83. Following the completion of the sale, the director now directly owns 197,932 shares in the company, valued at $7,349,215.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jennifer Balliet sold 13,000 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $39.25, for a total value of $510,250.00. Following the sale, the vice president now owns 37,980 shares of the company’s stock, valued at approximately $1,490,715. The disclosure for this sale can be found here. Insiders sold 247,273 shares of company stock valued at $9,498,701 over the last 90 days. 6.50% of the stock is currently owned by insiders.
A number of research analysts have commented on NEO shares. Benchmark boosted their price objective on NeoGenomics from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Bank of America began coverage on NeoGenomics in a research note on Thursday, June 25th. They set a “buy” rating and a $34.00 price objective on the stock. Craig Hallum lifted their target price on NeoGenomics from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. BidaskClub lowered NeoGenomics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 5th. Finally, Zacks Investment Research lowered NeoGenomics from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. NeoGenomics has an average rating of “Buy” and a consensus target price of $37.50.
Shares of NASDAQ NEO opened at $35.35 on Friday. The company has a current ratio of 6.79, a quick ratio of 6.44 and a debt-to-equity ratio of 0.32. The stock has a 50 day simple moving average of $38.31 and a 200-day simple moving average of $31.13. The company has a market cap of $4.08 billion, a PE ratio of -707.00 and a beta of 0.80. NeoGenomics, Inc. has a 12-month low of $18.52 and a 12-month high of $41.03.
NeoGenomics (NASDAQ:NEO) last released its earnings results on Tuesday, July 28th. The medical research company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.06. The firm had revenue of $86.90 million during the quarter, compared to the consensus estimate of $86.55 million. NeoGenomics had a positive return on equity of 0.73% and a negative net margin of 1.33%. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.07 earnings per share. Sell-side analysts forecast that NeoGenomics, Inc. will post -0.01 earnings per share for the current fiscal 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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