Gamco Investors INC. ET AL reduced its stake in NeoGenomics, Inc. (NASDAQ:NEO) by 19.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,436 shares of the medical research company’s stock after selling 25,299 shares during the period. Gamco Investors INC. ET AL owned approximately 0.10% of NeoGenomics worth $2,035,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in NeoGenomics by 41.6% in the second quarter. Vanguard Group Inc. now owns 8,173,714 shares of the medical research company’s stock valued at $179,331,000 after buying an additional 2,401,227 shares in the last quarter. Marshall Wace LLP raised its stake in NeoGenomics by 492.5% in the second quarter. Marshall Wace LLP now owns 1,358,313 shares of the medical research company’s stock valued at $29,801,000 after buying an additional 1,129,043 shares in the last quarter. BlackRock Inc. raised its stake in NeoGenomics by 8.0% in the second quarter. BlackRock Inc. now owns 14,925,327 shares of the medical research company’s stock valued at $327,462,000 after buying an additional 1,100,263 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in NeoGenomics in the second quarter valued at $19,966,000. Finally, Wells Fargo & Company MN raised its stake in NeoGenomics by 122.4% in the second quarter. Wells Fargo & Company MN now owns 532,393 shares of the medical research company’s stock valued at $11,680,000 after buying an additional 293,049 shares in the last quarter. Institutional investors and hedge funds own 85.02% of the company’s stock.
Shares of NEO stock traded up $0.68 during mid-day trading on Friday, hitting $22.69. 494,000 shares of the stock were exchanged, compared to its average volume of 995,542. The stock’s fifty day simple moving average is $20.68 and its two-hundred day simple moving average is $22.52. NeoGenomics, Inc. has a 12-month low of $11.05 and a 12-month high of $26.89. The company has a debt-to-equity ratio of 0.24, a quick ratio of 4.05 and a current ratio of 4.24. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 174.54 and a beta of 0.94.
NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results on Tuesday, October 29th. The medical research company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.01. NeoGenomics had a net margin of 0.55% and a return on equity of 4.60%. The company had revenue of $104.70 million during the quarter, compared to the consensus estimate of $99.38 million. During the same period last year, the firm earned $0.05 EPS. The company’s revenue for the quarter was up 51.5% on a year-over-year basis. On average, research analysts expect that NeoGenomics, Inc. will post 0.19 earnings per share for the current fiscal year.
In related news, Director Steven C. Jones sold 40,737 shares of NeoGenomics stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $25.02, for a total transaction of $1,019,239.74. Following the completion of the transaction, the director now directly owns 245,234 shares in the company, valued at approximately $6,135,754.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider George Cardoza sold 51,556 shares of NeoGenomics stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $22.82, for a total value of $1,176,507.92. Following the transaction, the insider now owns 356,387 shares of the company’s stock, valued at $8,132,751.34. The disclosure for this sale can be found here. Insiders have sold a total of 363,399 shares of company stock valued at $8,822,819 over the last 90 days. Insiders own 8.80% of the company’s stock.
NEO has been the topic of a number of analyst reports. BidaskClub cut NeoGenomics from a “hold” rating to a “sell” rating in a research note on Saturday. Leerink Swann set a $30.00 price target on NeoGenomics and gave the company a “buy” rating in a research note on Wednesday, July 31st. Raymond James raised their price target on NeoGenomics from $23.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. William Blair reaffirmed an “outperform” rating on shares of NeoGenomics in a report on Tuesday, October 29th. Finally, ValuEngine raised NeoGenomics from a “hold” rating to a “buy” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $24.86.
NeoGenomics Company Profile
NeoGenomics, Inc, together with its subsidiaries, operates a network of cancer-focused genetic testing laboratories in the United States; and laboratories in Switzerland and Singapore. It operates in two segments, Clinical Services and Pharma Services. The company's laboratories provide genetic and molecular testing services to hospitals, pathologists, oncologists, urologists, other clinicians and researchers, pharmaceutical firms, academic centers, and other clinical laboratories.
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