Jennison Associates LLC Sells 62,516 Shares of NeoGenomics, Inc. (NASDAQ:NEO)
Several other hedge funds also recently made changes to their positions in the company. Bedel Financial Consulting Inc. bought a new stake in NeoGenomics during the first quarter valued at approximately $34,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in NeoGenomics during the fourth quarter valued at approximately $47,000. KBC Group NV purchased a new position in NeoGenomics during the fourth quarter valued at approximately $56,000. Capital Asset Advisory Services LLC purchased a new position in NeoGenomics during the fourth quarter valued at approximately $60,000. Finally, RWM Asset Management LLC purchased a new position in NeoGenomics during the fourth quarter valued at approximately $73,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.
NEO stock opened at $40.90 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 13.91 and a quick ratio of 13.60. NeoGenomics, Inc. has a twelve month low of $25.67 and a twelve month high of $61.57. The company has a market capitalization of $4.82 billion, a PE ratio of -511.25 and a beta of 0.69. The company’s fifty day moving average price is $44.50.
NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data on Wednesday, May 5th. The medical research company reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.05). NeoGenomics had a negative net margin of 2.42% and a positive return on equity of 0.83%. The firm had revenue of $115.30 million for the quarter, compared to the consensus estimate of $112.17 million. During the same quarter last year, the firm earned ($0.07) EPS. The company’s revenue was up 8.8% on a year-over-year basis. Equities research analysts forecast that NeoGenomics, Inc. will post -0.33 earnings per share for the current fiscal year.
Several equities analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of NeoGenomics from $46.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, February 25th. Raymond James reaffirmed a “market perform” rating on shares of NeoGenomics in a report on Wednesday, March 3rd. The Goldman Sachs Group began coverage on shares of NeoGenomics in a report on Thursday. They issued a “buy” rating and a $55.00 target price on the stock. Zacks Investment Research downgraded shares of NeoGenomics from a “hold” rating to a “sell” rating in a report on Wednesday, April 28th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $65.00 target price on shares of NeoGenomics in a report on Friday, April 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $50.46.
In other NeoGenomics news, insider George Cardoza sold 169,230 shares of the business’s stock in a transaction on Wednesday, June 2nd. The shares were sold at an average price of $40.39, for a total transaction of $6,835,199.70. Following the transaction, the insider now owns 207,879 shares in the company, valued at $8,396,232.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert J. Shovlin sold 130,604 shares of the business’s stock in a transaction on Tuesday, May 25th. The shares were sold at an average price of $39.31, for a total transaction of $5,134,043.24. Following the transaction, the insider now owns 249,914 shares in the company, valued at approximately $9,824,119.34. The disclosure for this sale can be found here. Insiders own 4.70% of the company’s stock.
About NeoGenomics
NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States, Europe, and Asia. It operates in two segments, Clinical Services and Pharma Services. The company offers testing services to hospitals, reference labs, pathologists, oncologists, clinicians, pharmaceutical firms, and researchers It provides cytogenetics testing services to study normal and abnormal chromosomes and their relationship to diseases; fluorescence in-situ hybridization testing services that focus on detecting and locating the presence or absence of specific DNA sequences and genes on chromosomes; flow cytometry testing services to measure the characteristics of cell populations; and immunohistochemistry and digital imaging testing services to localize cellular proteins in tissue section, as well as to allow clients to visualize scanned slides, and perform quantitative analysis for various stains.
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