6,400 Shares in NeoGenomics, Inc. (NASDAQ:NEO) Bought by Mackay Shields LLC

Paula Ricardo 2020-11-22 09:11

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Mackay Shields LLC acquired a new position in NeoGenomics, Inc. (NASDAQ:NEO) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 6,400 shares of the medical research company’s stock, valued at approximately $237,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Oregon Public Employees Retirement Fund grew its holdings in NeoGenomics by 6.7% during the third quarter. Oregon Public Employees Retirement Fund now owns 44,833 shares of the medical research company’s stock valued at $1,654,000 after purchasing an additional 2,800 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in NeoGenomics by 14.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 792,705 shares of the medical research company’s stock valued at $24,559,000 after purchasing an additional 98,047 shares during the period. Valeo Financial Advisors LLC grew its holdings in NeoGenomics by 150.0% during the third quarter. Valeo Financial Advisors LLC now owns 1,000 shares of the medical research company’s stock valued at $37,000 after purchasing an additional 600 shares during the period. Private Advisor Group LLC grew its holdings in NeoGenomics by 4.6% during the second quarter. Private Advisor Group LLC now owns 19,915 shares of the medical research company’s stock valued at $617,000 after purchasing an additional 880 shares during the period. Finally, Bank of Montreal Can grew its holdings in NeoGenomics by 9.3% during the second quarter. Bank of Montreal Can now owns 123,220 shares of the medical research company’s stock valued at $4,473,000 after purchasing an additional 10,490 shares during the period. 91.67% of the stock is owned by institutional investors.

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In related news, CEO Oort Douglas M. Van sold 118,752 shares of the stock in a transaction that occurred on Friday, November 13th. The stock was sold at an average price of $41.56, for a total value of $4,935,333.12. Following the transaction, the chief executive officer now owns 2,384,038 shares of the company’s stock, valued at $99,080,619.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Oort Douglas M. Van sold 340,000 shares of the stock in a transaction that occurred on Monday, November 16th. The stock was sold at an average price of $42.01, for a total value of $14,283,400.00. Following the completion of the transaction, the chief executive officer now directly owns 2,384,038 shares in the company, valued at approximately $100,153,436.38. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 797,902 shares of company stock worth $31,665,001. Insiders own 6.50% of the company’s stock.

Several equities analysts have recently commented on the company. Zacks Investment Research downgraded NeoGenomics from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. CIBC upgraded NeoGenomics to an “outperformer” rating and boosted their price objective for the company from $10.50 to $14.50 in a research report on Monday, October 26th. SVB Leerink boosted their price objective on NeoGenomics from $47.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday. Craig Hallum boosted their price objective on NeoGenomics from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, October 28th. Finally, Benchmark boosted their price objective on NeoGenomics from $40.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, October 28th. Two research 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. The company presently has a consensus rating of “Buy” and an average price target of $40.96.

Shares of NASDAQ NEO opened at $44.77 on Friday. The business’s 50 day moving average is $40.85 and its two-hundred day moving average is $35.29. The company has a debt-to-equity ratio of 0.25, a current ratio of 6.54 and a quick ratio of 6.22. NeoGenomics, Inc. has a 1-year low of $20.47 and a 1-year high of $45.00. The stock has a market capitalization of $4.97 billion, a P/E ratio of -1,491.84 and a beta of 0.68.

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

About NeoGenomics

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.