CIBC Asset Management Inc Raises Stock Holdings in NeoGenomics, Inc. (NASDAQ:NEO)
Other hedge funds have also recently modified their holdings of the company. Quadrant Capital Group LLC grew its stake in NeoGenomics by 56.9% in the fourth quarter. Quadrant Capital Group LLC now owns 1,826 shares of the medical research company’s stock worth $62,000 after purchasing an additional 662 shares during the period. Lindbrook Capital LLC purchased a new stake in NeoGenomics in the fourth quarter worth $84,000. Andrew Hill Investment Advisors Inc. bought a new stake in NeoGenomics in the fourth quarter worth $88,000. National Bank of Canada FI bought a new stake in NeoGenomics in the fourth quarter worth $126,000. Finally, Blume Capital Management Inc. boosted its holdings in NeoGenomics by 88.7% in the fourth quarter. Blume Capital Management Inc. now owns 3,830 shares of the medical research company’s stock worth $131,000 after acquiring an additional 1,800 shares in the last quarter. 95.03% of the stock is currently owned by institutional investors.
Shares of NASDAQ:NEO opened at $9.89 on Friday. The company has a market cap of $1.23 billion, a P/E ratio of -30.91 and a beta of 0.86. The company has a debt-to-equity ratio of 0.50, a current ratio of 7.93 and a quick ratio of 7.64. NeoGenomics, Inc. has a 1 year low of $9.34 and a 1 year high of $54.74. The stock’s fifty day moving average price is $14.43 and its 200-day moving average price is $25.80.
NeoGenomics (NASDAQ:NEO – Get Rating) last posted its earnings results on Wednesday, April 27th. The medical research company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.04. NeoGenomics had a negative return on equity of 6.62% and a negative net margin of 7.33%. The company had revenue of $117.17 million for the quarter, compared to the consensus estimate of $116.44 million. During the same quarter in the prior year, the company earned ($0.06) earnings per share. NeoGenomics’s revenue was up 1.4% on a year-over-year basis. On average, sell-side analysts anticipate that NeoGenomics, Inc. will post -0.98 earnings per share for the current year.
Several equities research analysts have commented on NEO shares. SVB Leerink dropped their target price on NeoGenomics from $45.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, March 29th. Benchmark dropped their target price on NeoGenomics from $26.00 to $16.00 in a report on Tuesday, March 29th. Morgan Stanley dropped their target price on NeoGenomics from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 12th. Craig Hallum dropped their target price on NeoGenomics from $46.00 to $30.00 in a report on Thursday, February 24th. Finally, Cowen dropped their target price on NeoGenomics from $42.00 to $24.00 and set an “outperform” rating on the stock in a report on Tuesday, March 29th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, NeoGenomics has a consensus rating of “Hold” and an average price target of $24.64.
In other NeoGenomics news, CFO William Bonello sold 3,209 shares of the 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 filing with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by corporate insiders.
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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