Victory Capital Management Inc. Trims Stake in NeoGenomics, Inc. (NASDAQ:NEO)
Victory Capital Management Inc. lessened its position in NeoGenomics, Inc. (NASDAQ:NEO) by 1.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 97,327 shares of the medical research company’s stock after selling 1,343 shares during the quarter. Victory Capital Management Inc. owned approximately 0.09% of NeoGenomics worth $3,591,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC lifted its position in NeoGenomics by 150.0% during the 3rd quarter. Valeo Financial Advisors LLC now owns 1,000 shares of the medical research company’s stock valued at $37,000 after acquiring an additional 600 shares during the period. Cullen Frost Bankers Inc. purchased a new position in shares of NeoGenomics during the second quarter valued at approximately $31,000. Fiduciary Planning LLC bought a new stake in shares of NeoGenomics in the 3rd quarter worth approximately $41,000. Flagship Harbor Advisors LLC boosted its position in shares of NeoGenomics by 48.0% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 1,310 shares of the medical research company’s stock worth $48,000 after purchasing an additional 425 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of NeoGenomics in the 3rd quarter worth approximately $55,000. Institutional investors own 91.67% of the company’s stock.
A number of research firms have recently commented on NEO. Benchmark increased their target price on NeoGenomics from $40.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, October 28th. SVB Leerink boosted their price objective on shares of NeoGenomics from $47.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, November 20th. CIBC raised NeoGenomics to an “outperformer” rating and upped their price objective for the company from $10.50 to $14.50 in a research report on Monday, October 26th. Morgan Stanley initiated coverage on NeoGenomics in a report on Wednesday, September 9th. They issued an “overweight” rating and a $46.00 target price for the company. Finally, Zacks Investment Research downgraded NeoGenomics from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $40.96.
NeoGenomics stock 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 company has a market cap of $5.28 billion, a P/E ratio of -1,585.47 and a beta of 0.68. The company has a quick ratio of 6.22, a current ratio of 6.54 and a debt-to-equity ratio of 0.25. The business has a 50-day simple moving average of $42.42 and a two-hundred day simple moving average of $36.22.
NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data 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. 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 for the quarter, compared to the consensus estimate 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% compared to the same quarter last year.
In other news, Director Bruce K. Crowther sold 2,400 shares of the firm’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $35.68, for a total value of $85,632.00. Following the transaction, the director now owns 46,483 shares of the company’s stock, valued at $1,658,513.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven C. Jones sold 37,991 shares of NeoGenomics stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $37.13, for a total value of $1,410,605.83. Following the transaction, the director now directly owns 197,932 shares in the company, valued at $7,349,215.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 850,828 shares of company stock valued at $34,056,727. Insiders own 6.50% of the company’s stock.
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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