Advisor Group Holdings Inc. Sells 16,611 Shares of NeoGenomics, Inc. (NASDAQ:NEO)
Advisor Group Holdings Inc. reduced its stake in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 17.1% in the second quarter, according to its most recent filing with the SEC. 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. owned about 0.07% of NeoGenomics worth $2,501,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of NEO. Aperio Group LLC increased its holdings in NeoGenomics by 11.8% during the 1st quarter. Aperio Group LLC now owns 45,719 shares of the medical research company’s stock worth $1,262,000 after purchasing an additional 4,834 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of NeoGenomics by 53.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 35,870 shares of the medical research company’s stock valued at $990,000 after acquiring an additional 12,460 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of NeoGenomics by 1.6% in the first quarter. Rhumbline Advisers now owns 321,016 shares of the medical research company’s stock valued at $8,863,000 after acquiring an additional 5,003 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of NeoGenomics by 189.2% in the first quarter. First Trust Advisors LP now owns 99,356 shares of the medical research company’s stock valued at $2,743,000 after acquiring an additional 65,003 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of NeoGenomics by 16.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,632 shares of the medical research company’s stock valued at $266,000 after acquiring an additional 1,334 shares in the last quarter. 91.67% of the stock is owned by hedge funds and other institutional investors.
In related news, insider William Bonello sold 22,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $38.61, for a total value of $849,420.00. Following the transaction, the insider now owns 32,096 shares of the company’s stock, valued at $1,239,226.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven C. Jones sold 10,426 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $36.13, for a total value of $376,691.38. Following the completion of the transaction, the director now directly owns 197,932 shares in the company, valued at approximately $7,151,283.16. The disclosure for this sale can be found here. Insiders sold 247,273 shares of company stock worth $9,498,701 in the last quarter. 6.50% of the stock is currently owned by company insiders.
NEO has been the subject of several recent analyst reports. Bank of America initiated coverage on NeoGenomics in a report on Thursday, June 25th. They issued a “buy” rating and a $34.00 target price for the company. Needham & Company LLC upped their price objective on NeoGenomics from $33.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. BidaskClub downgraded NeoGenomics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 5th. SVB Leerink upped their price objective on NeoGenomics from $35.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Finally, Guggenheim initiated coverage on NeoGenomics in a research note on Friday, August 28th. They issued a “buy” rating and a $46.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. NeoGenomics presently has a consensus rating of “Buy” and an average price target of $37.50.
Shares of NEO stock opened at $35.25 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 6.44 and a current ratio of 6.79. NeoGenomics, Inc. has a 52-week low of $18.52 and a 52-week high of $41.03. The company has a market capitalization of $3.89 billion, a PE ratio of -705.00 and a beta of 0.80. The business’s fifty day moving average is $38.24 and its 200 day moving average is $31.21.
NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings data on Tuesday, July 28th. The medical research company reported ($0.04) earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $86.90 million for the quarter, compared to the consensus estimate of $86.55 million. During the same quarter last year, the business posted $0.07 earnings per share. The firm’s revenue was down 14.6% compared to the same quarter last year. On average, sell-side analysts forecast that NeoGenomics, Inc. will post -0.01 EPS for the current fiscal year.
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.
Further Reading: What is diluted earnings per share (Diluted EPS)?
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