CIBC Asset Management Inc Raises Stake in NeoGenomics, Inc. (NASDAQ:NEO)
Other institutional investors have also added to or reduced their stakes in the company. Lindbrook Capital LLC purchased a new stake in shares of NeoGenomics in the 4th quarter worth about $84,000. State of New Jersey Common Pension Fund D boosted its position in shares of NeoGenomics by 7.8% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 75,331 shares of the medical research company’s stock worth $2,570,000 after buying an additional 5,445 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in shares of NeoGenomics in the 3rd quarter worth about $338,000. Mackenzie Financial Corp purchased a new stake in shares of NeoGenomics in the 3rd quarter worth about $324,000. Finally, Man Group plc boosted its position in shares of NeoGenomics by 3.9% in the 3rd quarter. Man Group plc now owns 101,272 shares of the medical research company’s stock worth $4,885,000 after buying an additional 3,799 shares in the last quarter. Institutional investors and hedge funds own 95.03% of the company’s stock.
Several research analysts recently weighed in on the stock. Needham & Company LLC cut their target price on shares of NeoGenomics from $29.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday, March 29th. BTIG Research cut their target price on shares of NeoGenomics from $35.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, March 29th. Stephens downgraded shares of NeoGenomics from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $34.00 to $16.00 in a research note on Tuesday, March 29th. StockNews.com raised shares of NeoGenomics to a “sell” rating in a research note on Saturday, April 30th. Finally, Bank of America downgraded shares of NeoGenomics from a “buy” rating to a “neutral” rating and cut their target price for the company from $25.00 to $18.00 in a research note on Tuesday, March 29th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, NeoGenomics has a consensus rating of “Hold” and an average price target of $24.64.
In related news, CFO William Bonello sold 3,209 shares of the company’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 filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.00% of the company’s stock.
Shares of NEO stock opened at $9.89 on Friday. The stock has a 50-day simple moving average of $14.43 and a 200 day simple moving average of $25.80. NeoGenomics, Inc. has a fifty-two week low of $9.34 and a fifty-two week high of $54.74. The stock has a market capitalization of $1.23 billion, a P/E ratio of -30.91 and a beta of 0.86. The company has a quick ratio of 7.64, a current ratio of 7.93 and a debt-to-equity ratio of 0.50.
NeoGenomics (NASDAQ:NEO – Get Rating) last released its quarterly 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 business had revenue of $117.17 million during the quarter, compared to analyst estimates of $116.44 million. During the same quarter last year, the company posted ($0.06) EPS. NeoGenomics’s revenue for the quarter 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.
About NeoGenomics (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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