California Public Employees Retirement System increased its position in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 2.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 238,776 shares of the medical research company’s stock after buying an additional 5,800 shares during the period. California Public Employees Retirement System owned about 0.22% of NeoGenomics worth $8,808,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in NEO. Wells Fargo & Company MN increased its holdings in NeoGenomics by 6.7% during the 3rd quarter. Wells Fargo & Company MN now owns 957,030 shares of the medical research company’s stock worth $35,305,000 after purchasing an additional 59,960 shares during the last quarter. NBW Capital LLC raised its stake in NeoGenomics by 0.8% during the 3rd quarter. NBW Capital LLC now owns 124,266 shares of the medical research company’s stock worth $4,584,000 after buying an additional 940 shares during the period. Jennison Associates LLC raised its stake in NeoGenomics by 3.1% during the 3rd quarter. Jennison Associates LLC now owns 407,812 shares of the medical research company’s stock worth $15,044,000 after buying an additional 12,113 shares during the period. Mackay Shields LLC acquired a new stake in NeoGenomics during the 3rd quarter worth $237,000. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of NeoGenomics by 6.7% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 44,833 shares of the medical research company’s stock valued at $1,654,000 after purchasing an additional 2,800 shares during the period. Hedge funds and other institutional investors own 91.67% of the company’s stock.
In other news, CEO Oort Douglas M. Van sold 340,000 shares of the company’s stock in a transaction dated Monday, November 16th. The stock was sold at an average price of $42.01, for a total transaction of $14,283,400.00. Following the completion of the sale, the chief executive officer now owns 2,384,038 shares in the company, valued at approximately $100,153,436.38. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Bruce K. Crowther sold 8,333 shares of the company’s stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $35.01, for a total value of $291,738.33. Following the sale, the director now owns 46,483 shares of the company’s stock, valued at approximately $1,627,369.83. The disclosure for this sale can be found here. Insiders sold 797,902 shares of company stock worth $31,665,001 in the last 90 days. Corporate insiders own 6.50% of the company’s stock.
Several research firms have issued reports on NEO. ValuEngine downgraded NeoGenomics from a “buy” rating to a “hold” rating in a research note on Monday, November 2nd. Craig Hallum raised their price objective on shares of NeoGenomics from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, October 28th. CIBC upgraded shares of NeoGenomics to an “outperformer” rating and raised their price objective for the company from $10.50 to $14.50 in a research report on Monday, October 26th. BidaskClub upgraded shares of NeoGenomics from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 9th. Finally, Needham & Company LLC raised their price objective on shares of NeoGenomics from $39.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, October 28th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. NeoGenomics presently has an average rating of “Buy” and an average target price of $40.96.
Shares of NASDAQ NEO opened at $44.77 on Friday. The business’s 50-day moving average price is $40.85 and its two-hundred day moving average price is $35.29. The company has a debt-to-equity ratio of 0.25, a current ratio of 6.54 and a quick ratio of 6.22. NeoGenomics, Inc. has a one year low of $20.47 and a one year high of $45.00. The company has a market capitalization of $4.97 billion, a P/E ratio of -1,491.84 and a beta of 0.68.
NeoGenomics (NASDAQ:NEO) last issued its earnings results on Tuesday, October 27th. The medical research company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. NeoGenomics had a positive return on equity of 0.71% and a negative net margin of 1.16%. The firm had revenue of $125.40 million for the quarter, compared to the consensus estimate of $126.23 million. During the same quarter in the previous year, the company posted $0.07 earnings per share. The business’s quarterly revenue was up 19.8% compared to the same quarter last year.
NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States, as well as 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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