Panagora Asset Management Inc. Has $2.40 Million Stock Holdings in NeoGenomics, Inc. (NASDAQ:NEO)

Stephan Jacobs 2021-03-10 09:03

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NeoGenomics logo Panagora Asset Management Inc. trimmed its position in NeoGenomics, Inc. (NASDAQ:NEO) by 11.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,492 shares of the medical research company’s stock after selling 5,614 shares during the quarter. Panagora Asset Management Inc.’s holdings in NeoGenomics were worth $2,395,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NEO. Cambridge Investment Research Advisors Inc. grew its holdings in NeoGenomics by 5.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 7,772 shares of the medical research company’s stock valued at $287,000 after buying an additional 373 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of NeoGenomics during the 3rd quarter valued at $55,000. BNP Paribas Arbitrage SA lifted its position in shares of NeoGenomics by 199.6% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 26,631 shares of the medical research company’s stock valued at $982,000 after acquiring an additional 17,743 shares during the period. Private Advisor Group LLC lifted its position in shares of NeoGenomics by 9.1% during the 3rd quarter. Private Advisor Group LLC now owns 21,725 shares of the medical research company’s stock valued at $801,000 after acquiring an additional 1,810 shares during the period. Finally, Teacher Retirement System of Texas bought a new stake in shares of NeoGenomics during the 3rd quarter valued at $212,000. 91.06% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently weighed in on the company. Raymond James reiterated a “market perform” rating on shares of NeoGenomics in a research report on Wednesday, March 3rd. Zacks Investment Research downgraded NeoGenomics from a “hold” rating to a “sell” rating in a research report on Wednesday, March 3rd. Truist initiated coverage on NeoGenomics in a research report on Wednesday, January 27th. They set a “buy” rating and a $65.00 price objective for the company. Morgan Stanley upped their price objective on NeoGenomics from $46.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 3rd. Finally, Craig Hallum increased their target price on NeoGenomics from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, February 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $48.63.

In other news, VP Jennifer Balliet sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, December 11th. The stock was sold at an average price of $49.99, for a total value of $749,850.00. Following the transaction, the vice president now owns 39,980 shares in the company, valued at $1,998,600.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lawrence Martin Weiss sold 20,200 shares of the firm’s stock in a transaction that occurred on Monday, December 14th. The shares were sold at an average price of $51.06, for a total value of $1,031,412.00. Following the completion of the transaction, the insider now owns 61,717 shares in the company, valued at approximately $3,151,270.02. The disclosure for this sale can be found here. Insiders have sold 80,200 shares of company stock valued at $4,079,012 in the last ninety days. 6.50% of the stock is currently owned by insiders.

NASDAQ NEO opened at $44.90 on Wednesday. The business has a 50 day simple moving average of $53.79 and a 200 day simple moving average of $46.37. NeoGenomics, Inc. has a one year low of $20.47 and a one year high of $61.57. The stock has a market capitalization of $5.25 billion, a P/E ratio of -1,496.17 and a beta of 0.79. 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 (NASDAQ:NEO) last released its earnings results on Wednesday, February 24th. The medical research company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.06 by $0.08. NeoGenomics had a positive return on equity of 0.71% and a negative net margin of 1.16%. The business had revenue of $126.00 million during the quarter, compared to analysts’ expectations of $123.45 million. During the same quarter last year, the firm posted $0.06 earnings per share. The firm’s revenue was up 17.8% on a year-over-year basis. Equities analysts expect that NeoGenomics, Inc. will post -0.01 earnings per share for the current year.

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.