Panagora Asset Management Inc. Cuts Holdings in NeoGenomics, Inc. (NASDAQ:NEO) – Ticker Report
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Quadrant Capital Group LLC increased its holdings in shares of NeoGenomics by 56.9% in the 4th quarter. Quadrant Capital Group LLC now owns 1,826 shares of the medical research company’s stock valued at $62,000 after acquiring an additional 662 shares during the last quarter. Lindbrook Capital LLC purchased a new position in shares of NeoGenomics in the 4th quarter valued at about $84,000. Andrew Hill Investment Advisors Inc. purchased a new position in shares of NeoGenomics in the 4th quarter valued at about $88,000. National Bank of Canada FI purchased a new position in shares of NeoGenomics in the 4th quarter valued at about $126,000. Finally, Blume Capital Management Inc. boosted its position in shares of NeoGenomics by 88.7% in the 4th quarter. Blume Capital Management Inc. now owns 3,830 shares of the medical research company’s stock valued at $131,000 after purchasing an additional 1,800 shares during the period. Institutional investors own 95.03% of the company’s stock.
NEO opened at $8.79 on Friday. NeoGenomics, Inc. has a 12 month low of $7.26 and a 12 month high of $54.74. The stock has a market capitalization of $1.10 billion, a P/E ratio of -27.47 and a beta of 0.86. The business has a 50 day simple moving average of $12.20 and a 200-day simple moving average of $22.98. 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 (NASDAQ:NEO – Get Rating) last released its quarterly earnings data on Wednesday, April 27th. The medical research company reported ($0.20) earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $117.17 million during the quarter, compared to the consensus estimate of $116.44 million. During the same period last year, the business posted ($0.06) EPS. NeoGenomics’s quarterly revenue was up 1.4% on a year-over-year basis. Research analysts anticipate that NeoGenomics, Inc. will post -0.98 EPS for the current year.
A number of brokerages recently issued reports on NEO. Cowen decreased their target price on NeoGenomics from $42.00 to $24.00 and set an “outperform” rating for the company in a research report on Tuesday, March 29th. Raymond James decreased their target price on NeoGenomics from $24.00 to $18.00 and set an “outperform” rating for the company in a research report on Monday, April 18th. Stephens cut NeoGenomics from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $34.00 to $16.00 in a research report on Tuesday, March 29th. Needham & Company LLC decreased their target price on NeoGenomics from $29.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, March 29th. Finally, Benchmark decreased their target price on NeoGenomics from $26.00 to $16.00 in a research report on Tuesday, March 29th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $24.64.
In related news, CFO William Bonello sold 3,209 shares of the firm’s stock in a transaction that occurred on 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 can be accessed through this hyperlink. Company insiders own 1.00% of the company’s stock.
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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