CIBC Private Wealth Group LLC Acquires Shares of 47,021 NeoGenomics, Inc. (NASDAQ:NEO)

   2020-11-12 11:11

CIBC Private Wealth Group LLC acquired a new stake in shares of NeoGenomics, Inc. (NASDAQ:NEO) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 47,021 shares of the medical research company’s stock, valued at approximately $1,735,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cullen Frost Bankers Inc. acquired a new position in shares of NeoGenomics in the 2nd quarter worth approximately $31,000. Valeo Financial Advisors LLC boosted its holdings in shares of NeoGenomics by 150.0% in the 3rd quarter. Valeo Financial Advisors LLC now owns 1,000 shares of the medical research company’s stock worth $37,000 after acquiring an additional 600 shares in the last quarter. Fiduciary Planning LLC acquired a new position in shares of NeoGenomics in the 3rd quarter worth approximately $41,000. Flagship Harbor Advisors LLC boosted its holdings in shares of NeoGenomics by 48.0% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 1,310 shares of the medical research company’s stock worth $48,000 after acquiring an additional 425 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of NeoGenomics in the 3rd quarter worth approximately $55,000. 91.67% of the stock is currently owned by institutional investors and hedge funds.



In other news, Director Steven C. Jones sold 10,426 shares of the business’s 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 owns 197,932 shares of the company’s stock, valued at approximately $7,151,283.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steven C. Jones sold 37,991 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $37.13, for a total transaction of $1,410,605.83. Following the completion of the transaction, 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 a total of 339,150 shares of company stock valued at $12,446,268 in the last quarter. Corporate insiders own 6.50% of the company’s stock.

NEO has been the topic of several recent analyst reports. ValuEngine downgraded NeoGenomics from a “buy” rating to a “hold” rating in a report on Monday, November 2nd. Raymond James boosted their price objective on shares of NeoGenomics from $40.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 28th. BidaskClub upgraded shares of NeoGenomics from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 9th. Craig Hallum boosted their price objective on shares of NeoGenomics from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, October 28th. Finally, SVB Leerink boosted their price objective on shares of NeoGenomics from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 28th. Two equities research 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 stock. NeoGenomics has a consensus rating of “Buy” and a consensus price target of $40.71.

Shares of NeoGenomics stock opened at $43.71 on Thursday. The firm has a fifty day moving average of $39.65 and a two-hundred day moving average of $34.67. The stock has a market capitalization of $4.85 billion, a price-to-earnings ratio of -1,456.51 and a beta of 0.68. NeoGenomics, Inc. has a 52 week low of $20.47 and a 52 week high of $44.58. The company has a debt-to-equity ratio of 0.25, a quick ratio of 6.22 and a current ratio of 6.54.

NeoGenomics (NASDAQ:NEO) last issued its earnings results on Tuesday, October 27th. The medical research company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.04 by $0.02. The company had revenue of $125.40 million during the quarter, compared to analysts’ expectations of $126.23 million. NeoGenomics had a negative net margin of 1.16% and a positive return on equity of 0.71%. The business’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 EPS.

NeoGenomics Profile

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: Calculating net profit and net profit margin ratio

Institutional Ownership by Quarter for NeoGenomics (NASDAQ:NEO)

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