Insider Selling: NeoGenomics, Inc. (NASDAQ:NEO) Director Sells $85,632.00 in Stock
NeoGenomics, Inc. (NASDAQ:NEO) Director Bruce K. Crowther sold 2,400 shares of the firm’s stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $35.68, for a total value of $85,632.00. Following the completion of the sale, the director now directly owns 46,483 shares in the company, valued at $1,658,513.44. The transaction 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 company has a market capitalization of $3.96 billion, a price-to-earnings ratio of -716.40 and a beta of 0.80. NeoGenomics, Inc. has a twelve month low of $18.52 and a twelve month high of $41.03. The stock has a fifty day simple moving average of $37.69 and a 200 day simple moving average of $31.52. The company has a quick ratio of 6.44, a current ratio of 6.79 and a debt-to-equity ratio of 0.25.
NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data on Tuesday, July 28th. The medical research company reported ($0.04) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.06. The business 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%. NeoGenomics’s quarterly revenue was down 14.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.07 earnings per share. Research analysts expect that NeoGenomics, Inc. will post -0.01 earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of the business. Citizens Financial Group Inc RI grew its holdings in NeoGenomics by 11.8% during the 2nd quarter. Citizens Financial Group Inc RI now owns 4,332 shares of the medical research company’s stock worth $134,000 after acquiring an additional 457 shares during the period. Ameritas Investment Partners Inc. grew its holdings in NeoGenomics by 6.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,152 shares of the medical research company’s stock worth $284,000 after acquiring an additional 583 shares during the period. Private Advisor Group LLC grew its holdings in NeoGenomics by 3.2% during the 1st quarter. Private Advisor Group LLC now owns 19,035 shares of the medical research company’s stock worth $526,000 after acquiring an additional 589 shares during the period. ETRADE Capital Management LLC grew its holdings in NeoGenomics by 1.5% during the 2nd quarter. ETRADE Capital Management LLC now owns 43,648 shares of the medical research company’s stock worth $1,353,000 after acquiring an additional 628 shares during the period. Finally, NEXT Financial Group Inc grew its holdings in NeoGenomics by 7.9% during the 2nd quarter. NEXT Financial Group Inc now owns 10,974 shares of the medical research company’s stock worth $340,000 after acquiring an additional 800 shares during the period. Hedge funds and other institutional investors own 91.67% of the company’s stock.
A number of research analysts have recently commented on NEO shares. Zacks Investment Research cut shares of NeoGenomics from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. BidaskClub cut NeoGenomics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 5th. Bank of America initiated coverage on NeoGenomics in a research note on Thursday, June 25th. They issued a “buy” rating and a $34.00 price target for the company. Raymond James increased their price target on NeoGenomics from $32.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Finally, Benchmark increased their price target on NeoGenomics from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target 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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