Northern Trust Corp Sells 789 Shares of NeoGenomics, Inc. (NASDAQ:NEO)
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. increased its position in NeoGenomics by 5.3% during the fourth quarter. BlackRock Inc. now owns 17,246,570 shares of the medical research company’s stock valued at $928,557,000 after acquiring an additional 861,490 shares during the last quarter. Candriam Luxembourg S.C.A. raised its position in NeoGenomics by 747.6% in the fourth quarter. Candriam Luxembourg S.C.A. now owns 296,528 shares of the medical research company’s stock worth $15,966,000 after acquiring an additional 261,545 shares during the period. Jennison Associates LLC increased its position in NeoGenomics by 32.5% in the fourth quarter. Jennison Associates LLC now owns 540,282 shares of the medical research company’s stock worth $29,089,000 after buying an additional 132,470 shares in the last quarter. Artisan Partners Limited Partnership raised its stake in shares of NeoGenomics by 2.5% in the fourth quarter. Artisan Partners Limited Partnership now owns 4,727,487 shares of the medical research company’s stock worth $254,528,000 after buying an additional 116,924 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of NeoGenomics during the 3rd quarter valued at about $2,774,000. 91.06% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have commented on NEO. Truist initiated coverage on shares of NeoGenomics in a research note on Wednesday, January 27th. They set a “buy” rating and a $65.00 target price on the stock. Zacks Investment Research cut shares of NeoGenomics from a “hold” rating to a “sell” rating in a research note on Wednesday, March 3rd. Craig Hallum upped their price objective on NeoGenomics from $50.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, February 25th. Morgan Stanley increased their price objective on shares of NeoGenomics from $46.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, March 3rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $65.00 target price on shares of NeoGenomics in a report on Wednesday, March 3rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $48.63.
NEO stock opened at $48.85 on Friday. The firm’s fifty day simple moving average is $52.60 and its two-hundred day simple moving average is $46.81. The stock has a market capitalization of $5.71 billion, a price-to-earnings ratio of -1,627.79 and a beta of 0.79. 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 twelve month low of $23.03 and a twelve month high of $61.57.
NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results on Wednesday, February 24th. The medical research company reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.08. NeoGenomics had a negative net margin of 1.16% and a positive return on equity of 0.71%. The firm had revenue of $126.00 million for the quarter, compared to analysts’ expectations of $123.45 million. During the same period in the prior year, the business posted $0.06 earnings per share. The business’s revenue for the quarter was up 17.8% on a year-over-year basis. As a group, equities research analysts expect that NeoGenomics, Inc. will post -0.01 EPS for the current year.
About NeoGenomics
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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