Gabelli Funds LLC Sells 14,560 Shares of NeoGenomics, Inc. (NASDAQ:NEO)
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. KBC Group NV bought a new position in NeoGenomics during the 4th quarter worth $56,000. Rhumbline Advisers increased its position in NeoGenomics by 3.3% during the 4th quarter. Rhumbline Advisers now owns 300,943 shares of the medical research company’s stock worth $16,203,000 after buying an additional 9,630 shares during the period. Oppenheimer Asset Management Inc. increased its position in NeoGenomics by 3.3% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 25,156 shares of the medical research company’s stock worth $1,355,000 after buying an additional 799 shares during the period. Skandinaviska Enskilda Banken AB publ increased its position in NeoGenomics by 2.2% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 27,313 shares of the medical research company’s stock worth $1,471,000 after buying an additional 591 shares during the period. Finally, Teacher Retirement System of Texas increased its position in NeoGenomics by 61.9% during the 4th quarter. Teacher Retirement System of Texas now owns 9,300 shares of the medical research company’s stock worth $501,000 after buying an additional 3,555 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.
In other 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 transaction of $6,835,199.70. Following the sale, the insider now directly owns 207,879 shares of the company’s stock, valued at $8,396,232.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce K. Crowther sold 20,734 shares of NeoGenomics stock in a transaction dated Tuesday, June 8th. The shares were sold at an average price of $41.46, for a total value of $859,631.64. Following the sale, the director now directly owns 59,564 shares in the company, valued at $2,469,523.44. The disclosure for this sale can be found here. Insiders sold 320,568 shares of company stock worth $12,828,875 over the last ninety days. 4.70% of the stock is currently owned by insiders.
Several research firms have weighed in on NEO. Needham & Company LLC reiterated a “buy” rating and set a $65.00 price objective on shares of NeoGenomics in a research 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. Finally, 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 on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $51.95.
NASDAQ:NEO opened at $45.23 on Friday. The company has a 50-day simple moving average of $42.20. The firm has a market capitalization of $5.33 billion, a price-to-earnings ratio of 904.60 and a beta of 0.68. The company has a quick ratio of 13.60, a current ratio of 13.91 and a debt-to-equity ratio of 0.63. NeoGenomics, Inc. has a twelve month low of $34.05 and a twelve month high of $61.57.
NeoGenomics (NASDAQ:NEO) last released its quarterly earnings data 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 business 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 quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the business earned ($0.07) earnings per share. As a group, sell-side analysts anticipate that NeoGenomics, Inc. will post -0.33 EPS for the current fiscal year.
NeoGenomics Company Profile
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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