NeoGenomics, Inc. (NASDAQ:NEO) Shares Sold by Principal Financial Group Inc.

   2020-11-19 10:11

Principal Financial Group Inc. lessened its stake in NeoGenomics, Inc. (NASDAQ:NEO) by 3.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 806,037 shares of the medical research company’s stock after selling 31,132 shares during the period. Principal Financial Group Inc. owned 0.73% of NeoGenomics worth $29,735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bellevue Group AG purchased a new stake in shares of NeoGenomics in the second quarter valued at about $15,040,000. Vanguard Group Inc. raised its holdings in shares of NeoGenomics by 4.3% in the second quarter. Vanguard Group Inc. now owns 11,240,602 shares of the medical research company’s stock valued at $348,234,000 after buying an additional 462,957 shares during the last quarter. RTW Investments LP purchased a new stake in shares of NeoGenomics in the second quarter valued at about $13,786,000. Jennison Associates LLC raised its holdings in shares of NeoGenomics by 1,203.9% in the second quarter. Jennison Associates LLC now owns 395,699 shares of the medical research company’s stock valued at $12,259,000 after buying an additional 365,352 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of NeoGenomics by 100.2% in the second quarter. Nordea Investment Management AB now owns 685,280 shares of the medical research company’s stock valued at $20,196,000 after buying an additional 342,940 shares during the last quarter. Institutional investors own 91.67% of the company’s stock.



A number of brokerages have recently commented on NEO. Raymond James upped their target price on shares of NeoGenomics from $40.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, October 28th. Craig Hallum increased their price target on shares of NeoGenomics from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, October 28th. Guggenheim began coverage on shares of NeoGenomics in a report on Friday, August 28th. They set a “buy” rating and a $46.00 price target for the company. ValuEngine cut shares of NeoGenomics from a “buy” rating to a “hold” rating in a report on Monday, November 2nd. Finally, Zacks Investment Research cut shares of NeoGenomics from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $40.71.

In other news, CEO Oort Douglas M. Van sold 340,000 shares of the stock in a transaction that occurred on Monday, November 16th. The shares were sold at an average price of $42.01, for a total value of $14,283,400.00. Following the sale, the chief executive officer now directly owns 2,384,038 shares in the company, valued at $100,153,436.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce K. Crowther sold 8,333 shares of the stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $35.01, for a total transaction of $291,738.33. Following the completion of the sale, the director now owns 46,483 shares in the company, valued at $1,627,369.83. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 797,902 shares of company stock valued at $31,665,001. 6.50% of the stock is currently owned by corporate insiders.

Shares of NeoGenomics stock opened at $42.46 on Thursday. NeoGenomics, Inc. has a 12-month low of $20.47 and a 12-month high of $45.00. The company has a current ratio of 6.54, a quick ratio of 6.22 and a debt-to-equity ratio of 0.25. The stock has a market cap of $4.71 billion, a PE ratio of -1,414.86 and a beta of 0.68. The company has a 50-day moving average of $40.62 and a two-hundred day moving average of $35.13.

NeoGenomics (NASDAQ:NEO) last issued its earnings results on Tuesday, October 27th. The medical research company reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 company had revenue of $125.40 million during the quarter, compared to analysts’ expectations of $126.23 million. During the same period last year, the company posted $0.07 earnings per share. The firm’s quarterly revenue was up 19.8% compared to the same quarter last year.

NeoGenomics Company 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.

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Institutional Ownership by Quarter for NeoGenomics (NASDAQ:NEO)

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