NeoGenomics, Inc. (NASDAQ:NEO) Shares Sold by Jennison Associates LLC

Erica Schwartz 2021-06-06 10:06

NeoGenomics logo Jennison Associates LLC lowered its stake in NeoGenomics, Inc. (NASDAQ:NEO) by 11.6% during the first quarter, Holdings Channel.com reports. The fund owned 477,766 shares of the medical research company’s stock after selling 62,516 shares during the quarter. Jennison Associates LLC’s holdings in NeoGenomics were worth $23,043,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in NEO. Bedel Financial Consulting Inc. acquired a new stake in NeoGenomics in the 1st quarter valued at $34,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in NeoGenomics in the 4th quarter valued at $47,000. KBC Group NV purchased a new position in NeoGenomics in the 4th quarter valued at $56,000. Capital Asset Advisory Services LLC purchased a new position in NeoGenomics in the 4th quarter valued at $60,000. Finally, RWM Asset Management LLC purchased a new position in NeoGenomics in the 4th quarter valued at $73,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

In other NeoGenomics news, insider George Cardoza sold 169,230 shares of NeoGenomics stock in a transaction dated Wednesday, June 2nd. The stock was sold at an average price of $40.39, for a total value of $6,835,199.70. Following the completion of the transaction, the insider now directly owns 207,879 shares of the company’s stock, valued at approximately $8,396,232.81. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Robert J. Shovlin sold 130,604 shares of NeoGenomics stock in a transaction dated Tuesday, May 25th. The shares were sold at an average price of $39.31, for a total value of $5,134,043.24. Following the completion of the transaction, the insider now directly owns 249,914 shares of the company’s stock, valued at $9,824,119.34. The disclosure for this sale can be found here. Insiders own 4.70% of the company’s stock.

A number of research analysts have weighed in on the company. Morgan Stanley raised their price objective on NeoGenomics from $46.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, February 25th. Needham & Company LLC reiterated a “buy” rating and set a $65.00 price target on shares of NeoGenomics in a report on Friday, April 16th. Zacks Investment Research lowered NeoGenomics from a “hold” rating to a “sell” rating in a report on Wednesday, April 28th. The Goldman Sachs Group initiated coverage on NeoGenomics in a report on Thursday. They set a “buy” rating and a $55.00 price target on the stock. Finally, Craig Hallum lifted their price target on NeoGenomics from $50.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, February 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $50.46.

NASDAQ NEO opened at $40.90 on Friday. The firm has a market cap of $4.82 billion, a P/E ratio of -511.25 and a beta of 0.69. The company has a debt-to-equity ratio of 0.63, a quick ratio of 13.60 and a current ratio of 13.91. The firm has a 50-day moving average price of $44.50. NeoGenomics, Inc. has a 1-year low of $25.67 and a 1-year high of $61.57.

NeoGenomics (NASDAQ:NEO) last released its earnings results on Wednesday, May 5th. The medical research company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.05). The firm had revenue of $115.30 million during the quarter, compared to analyst estimates of $112.17 million. NeoGenomics had a negative net margin of 2.42% and a positive return on equity of 0.83%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.07) earnings per share. On average, sell-side analysts anticipate that NeoGenomics, Inc. will post -0.33 EPS for the current fiscal year.

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.