ClariVest Asset Management LLC Sells 1,400 Shares of NeoGenomics, Inc. (NASDAQ:NEO)

Amber OConnor 2021-06-26 11:06

NeoGenomics logo ClariVest Asset Management LLC decreased its holdings in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 5.7% during the first quarter, HoldingsChannel reports. The institutional investor owned 23,343 shares of the medical research company’s stock after selling 1,400 shares during the period. ClariVest Asset Management LLC’s holdings in NeoGenomics were worth $1,125,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Barclays PLC grew its stake in shares of NeoGenomics by 14.8% during the first quarter. Barclays PLC now owns 155,630 shares of the medical research company’s stock valued at $7,505,000 after buying an additional 20,022 shares during the last quarter. Neuberger Berman Group LLC boosted its holdings in shares of NeoGenomics by 21.7% in the first quarter. Neuberger Berman Group LLC now owns 140,864 shares of the medical research company’s stock valued at $6,780,000 after purchasing an additional 25,114 shares during the period. Solstein Capital LLC purchased a new stake in shares of NeoGenomics in the first quarter valued at approximately $183,000. Alpine Global Management LLC purchased a new stake in shares of NeoGenomics in the first quarter valued at approximately $261,000. Finally, Avitas Wealth Management LLC boosted its holdings in shares of NeoGenomics by 23.6% in the first quarter. Avitas Wealth Management LLC now owns 15,541 shares of the medical research company’s stock valued at $750,000 after purchasing an additional 2,966 shares during the period. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

In other NeoGenomics news, Director Bruce K. Crowther sold 20,734 shares of the stock in a transaction dated Tuesday, June 8th. The stock was sold at an average price of $41.46, for a total transaction of $859,631.64. Following the sale, the director now directly owns 59,564 shares of the company’s stock, valued at approximately $2,469,523.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider George Cardoza sold 169,230 shares of the 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 sale, the insider now directly owns 207,879 shares in the company, valued at $8,396,232.81. The disclosure for this sale can be found here. Insiders have sold a total of 320,568 shares of company stock worth $12,828,875 over the last ninety days. 4.70% of the stock is owned by insiders.

NASDAQ NEO opened at $46.41 on Friday. 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 fifty day moving average price of $43.16. NeoGenomics, Inc. has a 1 year low of $27.21 and a 1 year high of $61.57. The firm has a market cap of $5.47 billion, a P/E ratio of 928.20 and a beta of 0.69.

NeoGenomics (NASDAQ:NEO) last released its earnings results on Wednesday, May 5th. The medical research company reported ($0.04) earnings per share (EPS) for the quarter, missing the 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 during the quarter, compared to analyst estimates of $112.17 million. During the same period in the previous year, the company earned ($0.07) earnings per share. NeoGenomics’s revenue was up 8.8% on a year-over-year basis. As a group, sell-side analysts predict that NeoGenomics, Inc. will post -0.33 earnings per share for the current year.

A number of analysts have weighed in on NEO shares. Needham & Company LLC restated a “buy” rating and set a $65.00 target price on shares of NeoGenomics in a report on Friday, April 16th. Raymond James restated a “market perform” rating on shares of NeoGenomics in a report on Wednesday, March 3rd. The Goldman Sachs Group started coverage on NeoGenomics in a report on Thursday, June 3rd. They set a “buy” rating and a $55.00 target price for the company. Finally, Zacks Investment Research lowered NeoGenomics from a “hold” rating to a “sell” rating in a report on Wednesday, April 28th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $51.95.

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.