NeoGenomics, Inc. (NASDAQ:NEO) Position Boosted by BlackRock Inc.
BlackRock Inc. increased its holdings in NeoGenomics, Inc. (NASDAQ:NEO) by 5.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,246,570 shares of the medical research company’s stock after buying an additional 861,490 shares during the quarter. BlackRock Inc. owned about 15.53% of NeoGenomics worth $928,557,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. Valeo Financial Advisors LLC boosted its stake 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 purchasing an additional 600 shares in the last quarter. Fiduciary Planning LLC bought a new position in NeoGenomics during the 3rd quarter valued at $41,000. FinTrust Capital Advisors LLC boosted its stake in NeoGenomics by 27.0% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 1,270 shares of the medical research company’s stock valued at $47,000 after purchasing an additional 270 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in NeoGenomics during the 3rd quarter valued at $55,000. Finally, RWM Asset Management LLC bought a new position in NeoGenomics during the 4th quarter valued at $73,000. 91.06% of the stock is owned by institutional investors and hedge funds.
NEO opened at $56.56 on Friday. 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 $61.57. The stock has a fifty day moving average of $54.87 and a 200-day moving average of $45.42. The firm has a market capitalization of $6.28 billion, a P/E ratio of -1,884.71 and a beta of 0.79.
A number of equities research analysts have recently commented on NEO shares. CIBC upgraded NeoGenomics to an “outperformer” rating and increased their price objective for the company from $10.50 to $14.50 in a research report on Monday, October 26th. SVB Leerink increased their price objective on NeoGenomics from $50.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, January 8th. Needham & Company LLC increased their price objective on NeoGenomics from $39.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, October 28th. Zacks Investment Research upgraded NeoGenomics from a “sell” rating to a “hold” rating in a research report on Thursday, February 11th. Finally, Benchmark increased 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. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. NeoGenomics presently has a consensus rating of “Buy” and an average target price of $43.58.
In other NeoGenomics news, insider William Bonello sold 8,000 shares of the stock in a transaction on Wednesday, December 2nd. The shares were sold at an average price of $46.80, for a total transaction of $374,400.00. Following the transaction, the insider now directly owns 20,060 shares of the company’s stock, valued at $938,808. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider George Cardoza sold 52,926 shares of the stock in a transaction on Tuesday, November 24th. The stock was sold at an average price of $45.19, for a total transaction of $2,391,725.94. Following the transaction, the insider now directly owns 423,828 shares in the company, valued at $19,152,787.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 295,809 shares of company stock valued at $14,338,460. 6.50% of the stock is owned by corporate insiders.
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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