SG Americas Securities LLC Purchases 6,605 Shares of NeoGenomics, Inc. (NASDAQ:NEO)

James Conley 2020-12-01 10:12

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SG Americas Securities LLC lifted its position in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 80.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,810 shares of the medical research company’s stock after purchasing an additional 6,605 shares during the period. SG Americas Securities LLC’s holdings in NeoGenomics were worth $546,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in NEO. Vanguard Group Inc. increased its position in shares of NeoGenomics by 4.3% during 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 acquiring an additional 462,957 shares during the last quarter. Granite Investment Partners LLC grew its stake in NeoGenomics by 0.3% in the 2nd quarter. Granite Investment Partners LLC now owns 999,111 shares of the medical research company’s stock valued at $30,952,000 after purchasing an additional 3,256 shares during the period. New York State Common Retirement Fund increased its position in shares of NeoGenomics by 19.8% during the 2nd quarter. New York State Common Retirement Fund now owns 983,564 shares of the medical research company’s stock valued at $30,471,000 after purchasing an additional 162,583 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of NeoGenomics by 6.7% during the 3rd quarter. Wells Fargo & Company MN now owns 957,030 shares of the medical research company’s stock worth $35,305,000 after purchasing an additional 59,960 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of NeoGenomics by 4.5% in the 2nd quarter. Principal Financial Group Inc. now owns 837,169 shares of the medical research company’s stock worth $25,935,000 after buying an additional 35,844 shares during the last quarter. Institutional investors and hedge funds own 91.67% of the company’s stock.

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Shares of NEO opened at $47.58 on Tuesday. NeoGenomics, Inc. has a 52-week low of $20.47 and a 52-week high of $47.94. The stock’s 50-day simple moving average is $42.42 and its 200 day simple moving average is $36.22. 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 stock has a market capitalization of $5.28 billion, a price-to-earnings ratio of -1,585.47 and a beta of 0.68.

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

In other news, Director Bruce K. Crowther sold 8,333 shares of NeoGenomics stock in a transaction dated Thursday, September 24th. The stock was 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 approximately $1,627,369.83. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Steven C. Jones sold 10,426 shares of the business’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $36.13, for a total value of $376,691.38. Following the transaction, the director now directly owns 197,932 shares of the company’s stock, valued at approximately $7,151,283.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 850,828 shares of company stock valued at $34,056,727. Insiders own 6.50% of the company’s stock.

Several analysts have commented on NEO shares. Needham & Company LLC lifted their price objective on shares of NeoGenomics from $39.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, October 28th. Morgan Stanley initiated coverage on NeoGenomics in a research note on Wednesday, September 9th. They issued an “overweight” rating and a $46.00 price objective on the stock. BidaskClub raised NeoGenomics from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 9th. CIBC upgraded NeoGenomics to an “outperformer” rating and boosted their target price for the company from $10.50 to $14.50 in a research note on Monday, October 26th. Finally, Guggenheim initiated coverage on NeoGenomics in a research note on Friday, August 28th. They set a “buy” rating and a $46.00 price target for the company. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. NeoGenomics currently has an average rating of “Buy” and an average target price of $40.96.

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.