US Bancorp DE Purchases 12,185 Shares of NeoGenomics, Inc. (NASDAQ:NEO)
US Bancorp DE increased its position in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 64.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,116 shares of the medical research company’s stock after purchasing an additional 12,185 shares during the period. US Bancorp DE’s holdings in NeoGenomics were worth $1,148,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FinTrust Capital Advisors LLC boosted its stake in NeoGenomics by 27.0% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 1,270 shares of the medical research company’s stock valued at $47,000 after buying an additional 270 shares in the last quarter. SG Americas Securities LLC boosted its stake in NeoGenomics by 80.5% in the 3rd quarter. SG Americas Securities LLC now owns 14,810 shares of the medical research company’s stock valued at $546,000 after buying an additional 6,605 shares in the last quarter. Fifth Third Bancorp boosted its stake in NeoGenomics by 8.7% in the 3rd quarter. Fifth Third Bancorp now owns 16,461 shares of the medical research company’s stock valued at $607,000 after buying an additional 1,318 shares in the last quarter. CI Investments Inc. acquired a new stake in NeoGenomics in the 3rd quarter valued at $302,000. Finally, LPL Financial LLC boosted its stake in NeoGenomics by 13.7% in the 3rd quarter. LPL Financial LLC now owns 36,013 shares of the medical research company’s stock valued at $1,329,000 after buying an additional 4,353 shares in the last quarter. Institutional investors and hedge funds own 91.67% of the company’s stock.
In other NeoGenomics news, insider George Cardoza sold 52,926 shares of the stock in a transaction dated Tuesday, November 24th. The stock was sold at an average price of $45.19, for a total value of $2,391,725.94. Following the completion of the sale, the insider now directly owns 423,828 shares in the company, valued at $19,152,787.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Oort Douglas M. Van sold 340,000 shares of the stock in a transaction dated 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 sale, 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. Insiders sold 850,828 shares of company stock valued at $34,056,727 in the last quarter. 6.50% of the stock is currently owned by corporate insiders.
Several brokerages recently commented on NEO. Zacks Investment Research lowered NeoGenomics from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. SVB Leerink boosted their price objective on NeoGenomics from $47.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, November 20th. Guggenheim started coverage on NeoGenomics in a research note on Friday, August 28th. They issued a “buy” rating and a $46.00 price objective on the stock. CIBC raised NeoGenomics to an “outperformer” rating and boosted their price objective for the stock from $10.50 to $14.50 in a research note on Monday, October 26th. Finally, Benchmark boosted their price objective on NeoGenomics from $40.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, October 28th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. NeoGenomics currently has an average rating of “Buy” and a consensus price target of $40.96.
Shares of NEO opened at $47.58 on Tuesday. The company has a quick ratio of 6.22, a current ratio of 6.54 and a debt-to-equity ratio of 0.25. NeoGenomics, Inc. has a 12-month low of $20.47 and a 12-month high of $47.94. The firm has a market capitalization of $5.28 billion, a PE ratio of -1,585.47 and a beta of 0.68. The stock’s fifty day simple moving average is $42.42 and its 200-day simple moving average is $36.22.
NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings results on Tuesday, October 27th. The medical research company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.02. The business had revenue of $125.40 million for the quarter, compared to analyst estimates of $126.23 million. NeoGenomics had a positive return on equity of 0.71% and a negative net margin of 1.16%. The firm’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.07 earnings per share.
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.
Further Reading: What is the Difference Between Common Shares and Convertible Shares?
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