Cadence Capital Management LLC cut its holdings in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 23.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 127,291 shares of the medical research company’s stock after selling 39,999 shares during the quarter. Cadence Capital Management LLC owned about 0.16% of NeoGenomics worth $1,954,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NEO. Emerald Mutual Fund Advisers Trust lifted its position in NeoGenomics by 250.8% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 1,556,745 shares of the medical research company’s stock worth $23,896,000 after buying an additional 1,112,939 shares during the period. First Light Asset Management LLC lifted its position in NeoGenomics by 8.4% during the second quarter. First Light Asset Management LLC now owns 5,162,063 shares of the medical research company’s stock worth $67,675,000 after buying an additional 401,731 shares during the period. Norris Perne & French LLP MI purchased a new position in NeoGenomics during the third quarter worth about $5,149,000. Emerald Advisers Inc. PA lifted its position in NeoGenomics by 21.6% during the third quarter. Emerald Advisers Inc. PA now owns 1,671,830 shares of the medical research company’s stock worth $25,663,000 after buying an additional 297,384 shares during the period. Finally, Victory Capital Management Inc. purchased a new position in NeoGenomics during the third quarter worth about $2,979,000. Hedge funds and other institutional investors own 80.83% of the company’s stock.
Several equities analysts recently weighed in on the company. Benchmark set a $22.00 target price on NeoGenomics and gave the stock a “buy” rating in a research report on Thursday, November 1st. Craig Hallum raised their price objective on NeoGenomics from $17.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, October 31st. Raymond James raised their price objective on NeoGenomics from $16.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, October 31st. Zacks Investment Research upgraded NeoGenomics from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective on the stock in a report on Saturday, November 3rd. Finally, BidaskClub upgraded NeoGenomics from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 27th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. NeoGenomics has a consensus rating of “Buy” and an average target price of $20.00.
NeoGenomics stock opened at $16.97 on Friday. The stock has a market capitalization of $1.46 billion, a PE ratio of 282.83 and a beta of -0.01. The company has a current ratio of 1.74, a quick ratio of 1.59 and a debt-to-equity ratio of 0.77. NeoGenomics, Inc. has a 12 month low of $7.08 and a 12 month high of $19.04.
NeoGenomics (NASDAQ:NEO) last released its quarterly earnings data on Tuesday, October 30th. The medical research company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The company had revenue of $69.10 million for the quarter, compared to the consensus estimate of $66.13 million. NeoGenomics had a return on equity of 3.15% and a net margin of 1.70%. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period last year, the business posted $0.01 EPS. On average, equities analysts forecast that NeoGenomics, Inc. will post 0.11 earnings per share for the current fiscal year.
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NeoGenomics Company Profile
NeoGenomics, Inc, together with its subsidiaries, operates a network of cancer-focused genetic testing laboratories in the United States. It operates through Clinical Services and Pharma Services segments. The company laboratories provide genetic and molecular testing services to hospitals, pathologists, oncologists, urologists, other clinicians and researchers, pharmaceutical firms, and other clinical laboratories.
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