RMB Capital Management LLC Grows Position in NeoGenomics, Inc. (NASDAQ:NEO)
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its stake in NeoGenomics by 36.7% in the 3rd quarter. Wellington Management Group LLP now owns 7,585,848 shares of the medical research company’s stock valued at $365,942,000 after purchasing an additional 2,037,787 shares during the period. Artisan Partners Limited Partnership grew its stake in NeoGenomics by 43.1% in the 3rd quarter. Artisan Partners Limited Partnership now owns 6,931,041 shares of the medical research company’s stock valued at $334,353,000 after purchasing an additional 2,086,662 shares during the period. Macquarie Group Ltd. grew its stake in NeoGenomics by 134.3% in the 3rd quarter. Macquarie Group Ltd. now owns 2,042,456 shares of the medical research company’s stock valued at $98,528,000 after purchasing an additional 1,170,745 shares during the period. Geode Capital Management LLC grew its stake in NeoGenomics by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,038,725 shares of the medical research company’s stock valued at $98,348,000 after purchasing an additional 23,421 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in NeoGenomics by 29.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,381,165 shares of the medical research company’s stock valued at $66,630,000 after purchasing an additional 314,094 shares during the period. 97.04% of the stock is owned by institutional investors and hedge funds.
In other NeoGenomics news, CFO William Bonello sold 3,209 shares of the firm’s stock in a transaction dated Monday, March 7th. The stock was sold at an average price of $18.29, for a total value of $58,692.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.70% of the stock is owned by company insiders.
NEO has been the subject of a number of recent analyst reports. Raymond James reduced their price objective on NeoGenomics from $53.00 to $24.00 and set an “outperform” rating for the company in a research note on Thursday, February 24th. Morgan Stanley cut their price target on NeoGenomics from $30.00 to $29.00 and set an “equal weight” rating for the company in a research note on Thursday, February 24th. Zacks Investment Research upgraded NeoGenomics from a “sell” rating to a “hold” rating in a research note on Friday, March 4th. Craig Hallum cut their price target on NeoGenomics from $46.00 to $30.00 in a research note on Thursday, February 24th. Finally, SVB Leerink cut their price target on NeoGenomics from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, January 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, NeoGenomics presently has a consensus rating of “Buy” and an average target price of $39.67.
Shares of NASDAQ NEO opened at $17.59 on Friday. NeoGenomics, Inc. has a 52 week low of $13.90 and a 52 week high of $54.74. The business has a 50-day simple moving average of $20.00 and a two-hundred day simple moving average of $32.78. The company has a quick ratio of 7.54, a current ratio of 7.81 and a debt-to-equity ratio of 0.48. The company has a market cap of $2.18 billion, a P/E ratio of -159.89 and a beta of 0.84.
NeoGenomics (NASDAQ:NEO – Get Rating) last issued its earnings results on Wednesday, February 23rd. The medical research company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.01. NeoGenomics had a negative return on equity of 4.17% and a negative net margin of 1.72%. The business had revenue of $125.73 million during the quarter, compared to the consensus estimate of $125.77 million. During the same quarter last year, the company earned $0.12 EPS. The firm’s revenue was down .2% compared to the same quarter last year. Equities research analysts anticipate that NeoGenomics, Inc. will post -0.66 EPS for the current year.
NeoGenomics Profile (Get Rating)
NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States, Europe, and Asia. It operates through, Clinical Services and Pharma Services segments. The company offers testing services to hospitals, reference labs, pathologists, oncologists, clinicians, pharmaceutical firms, and researchers.
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