Bruce K. Crowther Sells 8,333 Shares of NeoGenomics, Inc. (NASDAQ:NEO) Stock

Alanna Baker 2020-09-26 10:09

NeoGenomics, Inc. (NASDAQ:NEO) Director Bruce K. Crowther sold 8,333 shares of the firm’s stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $35.01, for a total value of $291,738.33. Following the transaction, the director now owns 46,483 shares of the company’s stock, valued at approximately $1,627,369.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

NASDAQ NEO opened at $35.82 on Friday. The firm has a market capitalization of $3.96 billion, a P/E ratio of -716.40 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 12-month low of $18.52 and a 12-month high of $41.03. The firm’s fifty day simple moving average is $37.69 and its two-hundred day simple moving average is $31.52.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings data on Tuesday, July 28th. The medical research company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.06. The firm had revenue of $86.90 million for the quarter, compared to analyst estimates of $86.55 million. NeoGenomics had a negative net margin of 1.33% and a positive return on equity of 0.73%. The business’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.07 earnings per share. As a group, sell-side analysts predict that NeoGenomics, Inc. will post -0.01 earnings per share for the current fiscal year.

A number of brokerages have recently weighed in on NEO. Raymond James raised their price objective on NeoGenomics from $32.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. SVB Leerink raised their price objective on NeoGenomics from $35.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Guggenheim assumed coverage on shares of NeoGenomics in a report on Friday, August 28th. They issued a “buy” rating and a $46.00 price target for the company. BidaskClub downgraded shares of NeoGenomics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 5th. Finally, Zacks Investment Research lowered shares of NeoGenomics from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Three 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 company. NeoGenomics has a consensus rating of “Buy” and a consensus price target of $37.50.

Several institutional investors and hedge funds have recently made changes to their positions in NEO. C M Bidwell & Associates Ltd. acquired a new position in NeoGenomics during the first quarter valued at $30,000. Carroll Financial Associates Inc. acquired a new position in NeoGenomics during the second quarter valued at $31,000. Cullen Frost Bankers Inc. acquired a new position in NeoGenomics during the second quarter valued at $31,000. Jacobi Capital Management LLC lifted its position in NeoGenomics by 70.1% during the second 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 period. Finally, Prime Capital Investment Advisors LLC lifted its position in NeoGenomics by 108.3% during 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 purchasing an additional 1,083 shares during the period. 91.67% of the stock is currently owned by hedge funds and other institutional investors.

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.