American International Group Inc. Sells 1,723 Shares of NeoGenomics, Inc. (NASDAQ:NEO)
American International Group Inc. lowered its stake in NeoGenomics, Inc. (NASDAQ:NEO) by 2.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,147 shares of the medical research company’s stock after selling 1,723 shares during the quarter. American International Group Inc. owned 0.06% of NeoGenomics worth $2,662,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in NEO. Envestnet Asset Management Inc. boosted its holdings in NeoGenomics by 23.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 49,646 shares of the medical research company’s stock worth $1,538,000 after acquiring an additional 9,326 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in shares of NeoGenomics by 12.2% in the 2nd quarter. New York State Teachers Retirement System now owns 159,747 shares of the medical research company’s stock worth $4,949,000 after buying an additional 17,380 shares during the last quarter. Banque Cantonale Vaudoise boosted its holdings in shares of NeoGenomics by 10.6% in the 2nd quarter. Banque Cantonale Vaudoise now owns 25,247 shares of the medical research company’s stock worth $782,000 after buying an additional 2,426 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of NeoGenomics by 34.2% in the 2nd quarter. First Trust Advisors LP now owns 133,309 shares of the medical research company’s stock worth $4,130,000 after buying an additional 33,953 shares during the last quarter. Finally, Norris Perne & French LLP MI boosted its holdings in shares of NeoGenomics by 35.0% in the 2nd quarter. Norris Perne & French LLP MI now owns 455,079 shares of the medical research company’s stock worth $14,098,000 after buying an additional 117,882 shares during the last quarter. Institutional investors and hedge funds own 91.67% of the company’s stock.
In other news, Director Steven C. Jones sold 37,991 shares of the firm’s 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 transaction, the director now directly owns 197,932 shares in the company, valued at $7,349,215.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Oort Douglas M. Van sold 340,000 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 2,384,038 shares of the company’s stock, valued at $100,153,436.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 797,902 shares of company stock valued at $31,665,001. 6.50% of the stock is owned by corporate insiders.
Several research firms have commented on NEO. Craig Hallum upped their price objective on shares of NeoGenomics from $42.00 to $50.00 and gave the company 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 objective on the stock. Needham & Company LLC upped their price objective on shares of NeoGenomics from $39.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, October 28th. Raymond James upped their price target on NeoGenomics from $40.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, October 28th. Finally, ValuEngine cut NeoGenomics from a “buy” rating to a “hold” rating in a research report on Monday, November 2nd. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. NeoGenomics presently has a consensus rating of “Buy” and a consensus price target of $40.96.
NASDAQ:NEO opened at $44.77 on Friday. The firm has a market cap of $4.97 billion, a PE ratio of -1,491.84 and a beta of 0.68. NeoGenomics, Inc. has a fifty-two week low of $20.47 and a fifty-two week high of $45.00. 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 business has a 50 day moving average price of $40.85 and a 200-day moving average price of $35.29.
NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings results 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 positive return on equity of 0.71% and a negative net margin of 1.16%. The company had revenue of $125.40 million during the quarter, compared to analyst estimates of $126.23 million. During the same quarter last year, the firm posted $0.07 earnings per share. The firm’s revenue was up 19.8% on a year-over-year basis.
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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