Conestoga Capital Advisors LLC reduced its stake in NeoGenomics, Inc. (NASDAQ:NEO) by 36.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,840 shares of the medical research company’s stock after selling 6,660 shares during the period. Conestoga Capital Advisors LLC’s holdings in NeoGenomics were worth $260,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NEO. Principal Financial Group Inc. boosted its position in shares of NeoGenomics by 347.0% during the fourth quarter. Principal Financial Group Inc. now owns 52,734 shares of the medical research company’s stock valued at $665,000 after buying an additional 40,936 shares during the last quarter. Legal & General Group Plc boosted its position in NeoGenomics by 13.3% in the fourth quarter. Legal & General Group Plc now owns 11,964 shares of the medical research company’s stock worth $151,000 after purchasing an additional 1,405 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of NeoGenomics by 17.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,138,241 shares of the medical research company’s stock valued at $14,352,000 after purchasing an additional 172,451 shares during the period. Deutsche Bank AG increased its position in shares of NeoGenomics by 43.1% during the 4th quarter. Deutsche Bank AG now owns 182,257 shares of the medical research company’s stock valued at $2,297,000 after purchasing an additional 54,911 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in shares of NeoGenomics during the 1st quarter valued at about $652,000. 84.84% of the stock is currently owned by hedge funds and other institutional investors.
In other NeoGenomics news, Director Steven C. Jones sold 181,339 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $24.92, for a total transaction of $4,518,967.88. Following the transaction, the director now directly owns 245,234 shares in the company, valued at approximately $6,111,231.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Bonello sold 17,000 shares of NeoGenomics stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $24.83, for a total value of $422,110.00. Following the completion of the sale, the insider now owns 23,735 shares of the company’s stock, valued at $589,340.05. The disclosure for this sale can be found here. Insiders have sold 241,370 shares of company stock valued at $6,017,680 over the last ninety days. 8.80% of the stock is owned by insiders.
NEO traded down $1.13 on Tuesday, hitting $21.67. The company had a trading volume of 1,394,917 shares, compared to its average volume of 1,036,988. The company has a market cap of $2.29 billion, a PE ratio of 166.69 and a beta of 0.97. NeoGenomics, Inc. has a 12-month low of $11.05 and a 12-month high of $26.89. The business’s fifty day simple moving average is $24.67 and its 200 day simple moving average is $22.25. The company has a quick ratio of 4.52, a current ratio of 4.67 and a debt-to-equity ratio of 0.25.
NeoGenomics (NASDAQ:NEO) last announced its earnings results on Tuesday, July 30th. The medical research company reported $0.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.02. NeoGenomics had a return on equity of 4.97% and a net margin of 0.57%. The firm had revenue of $101.71 million during the quarter, compared to analysts’ expectations of $97.32 million. During the same quarter in the previous year, the business earned $0.05 EPS. The company’s quarterly revenue was up 50.1% on a year-over-year basis. On average, analysts anticipate that NeoGenomics, Inc. will post 0.19 earnings per share for the current fiscal year.
NEO has been the topic of a number of research reports. Raymond James raised their price objective on shares of NeoGenomics from $23.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. ValuEngine lowered NeoGenomics from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Benchmark set a $27.00 price objective on NeoGenomics and gave the stock a “buy” rating in a research note on Wednesday, July 31st. BidaskClub upgraded NeoGenomics from a “hold” rating to a “buy” rating in a research note on Friday, July 19th. Finally, Needham & Company LLC set a $27.00 price target on NeoGenomics and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. NeoGenomics has a consensus rating of “Buy” and a consensus target price of $23.78.
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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