Advisor Group Holdings Inc. Lowers Stock Holdings in NeoGenomics, Inc. (NASDAQ:NEO)
Advisor Group Holdings Inc. decreased its position in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 17.1% during the second quarter, Holdings Channel reports. The institutional investor owned 80,668 shares of the medical research company’s stock after selling 16,611 shares during the period. Advisor Group Holdings Inc.’s holdings in NeoGenomics were worth $2,501,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. purchased a new stake in NeoGenomics in the 2nd quarter worth $31,000. Carroll Financial Associates Inc. purchased a new stake in shares of NeoGenomics during the 2nd quarter valued at about $31,000. C M Bidwell & Associates Ltd. purchased a new stake in shares of NeoGenomics during the 1st quarter valued at about $30,000. Prime Capital Investment Advisors LLC grew its holdings in NeoGenomics by 108.3% during the 2nd quarter. Prime Capital Investment Advisors LLC now owns 2,083 shares of the medical research company’s stock valued at $65,000 after purchasing an additional 1,083 shares during the last quarter. Finally, Jacobi Capital Management LLC grew its holdings in NeoGenomics by 70.1% during the 2nd quarter. Jacobi Capital Management LLC now owns 3,401 shares of the medical research company’s stock valued at $62,000 after purchasing an additional 1,401 shares during the last quarter. Institutional investors own 91.67% of the company’s stock.
In related news, VP Jennifer Balliet sold 13,000 shares of NeoGenomics stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $39.25, for a total transaction of $510,250.00. Following the completion of the sale, the vice president now directly owns 37,980 shares of the company’s stock, valued at approximately $1,490,715. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider George Cardoza sold 82,500 shares of NeoGenomics stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $39.35, for a total value of $3,246,375.00. Following the sale, the insider now directly owns 433,402 shares of the company’s stock, valued at $17,054,368.70. 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. Corporate insiders own 6.50% of the company’s stock.
NEO opened at $35.25 on Wednesday. The stock has a market cap of $3.89 billion, a PE ratio of -705.00 and a beta of 0.80. The company has a current ratio of 6.79, a quick ratio of 6.44 and a debt-to-equity ratio of 0.25. NeoGenomics, Inc. has a 1 year low of $18.52 and a 1 year high of $41.03. The stock’s 50 day simple moving average is $38.24 and its 200-day simple moving average is $31.21.
NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data on Tuesday, July 28th. The medical research company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $86.90 million for the quarter, compared to analyst estimates of $86.55 million. During the same quarter in the previous year, the firm earned $0.07 earnings per share. The business’s revenue was down 14.6% on a year-over-year basis. Equities analysts forecast that NeoGenomics, Inc. will post -0.01 earnings per share for the current fiscal year.
A number of equities research analysts recently commented on NEO shares. SVB Leerink increased their target price on shares of NeoGenomics from $35.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Guggenheim started coverage on shares of NeoGenomics in a research report on Friday, August 28th. They issued a “buy” rating and a $46.00 target price on the stock. Bank of America began coverage on shares of NeoGenomics in a research note on Thursday, June 25th. They set a “buy” rating and a $34.00 target price on the stock. Zacks Investment Research cut shares of NeoGenomics from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. Finally, BidaskClub cut shares of NeoGenomics from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 5th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $37.50.
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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