State of New Jersey Common Pension Fund D Sells 3,795 Shares of NeoGenomics, Inc. (NASDAQ:NEO)
State of New Jersey Common Pension Fund D decreased its stake in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 4.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 78,724 shares of the medical research company’s stock after selling 3,795 shares during the period. State of New Jersey Common Pension Fund D owned about 0.07% of NeoGenomics worth $2,904,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the stock. Carroll Financial Associates Inc. bought a new stake in shares of NeoGenomics during the 2nd quarter valued at $31,000. Cullen Frost Bankers Inc. purchased a new stake in NeoGenomics during the 2nd quarter valued at about $31,000. Flagship Harbor Advisors LLC boosted its holdings in NeoGenomics by 48.0% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 1,310 shares of the medical research company’s stock valued at $48,000 after acquiring an additional 425 shares during the period. Jacobi Capital Management LLC lifted its holdings in NeoGenomics by 70.1% in the 2nd quarter. Jacobi Capital Management LLC now owns 3,401 shares of the medical research company’s stock worth $62,000 after buying an additional 1,401 shares during the period. Finally, Prime Capital Investment Advisors LLC lifted its holdings in NeoGenomics by 108.3% in the 2nd quarter. Prime Capital Investment Advisors LLC now owns 2,083 shares of the medical research company’s stock worth $65,000 after buying an additional 1,083 shares during the period. 91.67% of the stock is currently owned by institutional investors.
In other news, Director Bruce K. Crowther sold 8,333 shares of the stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $35.01, for a total value of $291,738.33. Following the completion of the sale, the director now owns 46,483 shares of the company’s stock, valued at $1,627,369.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven C. Jones sold 37,991 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $37.13, for a total transaction of $1,410,605.83. Following the completion of the sale, the director now directly owns 197,932 shares of the company’s stock, valued at approximately $7,349,215.16. The disclosure for this sale can be found here. Insiders have sold 339,150 shares of company stock worth $12,446,268 in the last three months. Insiders own 6.50% of the company’s stock.
NEO has been the subject of a number of analyst reports. ValuEngine lowered NeoGenomics from a “buy” rating to a “hold” rating in a research report on Monday, November 2nd. CIBC upgraded NeoGenomics to an “outperformer” rating and raised their price target for the stock from $10.50 to $14.50 in a research note on Monday, October 26th. Benchmark lifted their target price on NeoGenomics from $40.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, October 28th. Raymond James lifted their target price on NeoGenomics from $40.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, October 28th. Finally, Morgan Stanley assumed coverage on NeoGenomics in a research report on Wednesday, September 9th. They issued an “overweight” rating and a $46.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $40.71.
NASDAQ NEO opened at $40.66 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 6.22 and a current ratio of 6.54. The firm has a market cap of $4.51 billion, a PE ratio of -1,354.88 and a beta of 0.68. NeoGenomics, Inc. has a one year low of $20.47 and a one year high of $44.58. The firm’s fifty day moving average is $39.08 and its two-hundred day moving average is $34.34.
NeoGenomics (NASDAQ:NEO) last released its quarterly earnings data on Tuesday, October 27th. The medical research company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. NeoGenomics had a negative net margin of 1.16% and a positive return on equity of 0.71%. The firm had revenue of $125.40 million for the quarter, compared to the consensus estimate of $126.23 million. During the same quarter in the previous year, the firm earned $0.07 earnings per share. The firm’s revenue was up 19.8% on a year-over-year basis.
NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States, as well as 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: CD Ladder
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