Bard Associates Inc. cut its holdings in NeoGenomics, Inc. (NASDAQ:NEO) by 19.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 197,633 shares of the medical research company’s stock after selling 48,850 shares during the quarter. NeoGenomics makes up approximately 1.2% of Bard Associates Inc.’s portfolio, making the stock its 18th largest holding. Bard Associates Inc.’s holdings in NeoGenomics were worth $2,591,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. FDx Advisors Inc. boosted its stake in NeoGenomics by 19.9% in the 1st quarter. FDx Advisors Inc. now owns 30,644 shares of the medical research company’s stock worth $250,000 after purchasing an additional 5,091 shares during the period. Trexquant Investment LP bought a new position in NeoGenomics in the 1st quarter worth about $361,000. Swiss National Bank boosted its stake in NeoGenomics by 5.8% in the 1st quarter. Swiss National Bank now owns 103,800 shares of the medical research company’s stock worth $847,000 after purchasing an additional 5,700 shares during the period. Quantitative Systematic Strategies LLC bought a new position in NeoGenomics in the 1st quarter worth about $100,000. Finally, Schwab Charles Investment Management Inc. boosted its stake in NeoGenomics by 3.0% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 305,995 shares of the medical research company’s stock worth $2,497,000 after purchasing an additional 8,949 shares during the period. Institutional investors and hedge funds own 81.07% of the company’s stock.
Several research analysts have commented on NEO shares. Stephens restated a “buy” rating and issued a $15.00 target price on shares of NeoGenomics in a research note on Tuesday, June 26th. BTIG Research restated a “buy” rating and issued a $15.00 target price on shares of NeoGenomics in a research note on Thursday, June 21st. BidaskClub downgraded NeoGenomics from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 10th. Leerink Swann started coverage on NeoGenomics in a research note on Tuesday, August 21st. They issued an “outperform” rating and a $18.00 target price for the company. Finally, Zacks Investment Research downgraded NeoGenomics from a “hold” rating to a “sell” rating in a research note on Thursday, July 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. NeoGenomics currently has an average rating of “Buy” and an average price target of $18.63.
NASDAQ:NEO opened at $13.89 on Friday. NeoGenomics, Inc. has a twelve month low of $7.08 and a twelve month high of $15.00. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 231.50 and a beta of 0.58. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.59 and a current ratio of 1.74.
NeoGenomics (NASDAQ:NEO) last released its quarterly earnings results on Tuesday, July 24th. The medical research company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. NeoGenomics had a negative return on equity of 0.36% and a negative net margin of 0.98%. The firm had revenue of $67.70 million for the quarter, compared to analysts’ expectations of $66.40 million. During the same quarter last year, the firm posted $0.04 EPS. The company’s revenue was up 8.7% compared to the same quarter last year. research analysts expect that NeoGenomics, Inc. will post 0.08 earnings per share for the current fiscal year.
In other NeoGenomics news, insider Robert J. Shovlin sold 12,941 shares of the firm’s stock in a transaction dated Friday, June 29th. The stock was sold at an average price of $13.12, for a total value of $169,785.92. Following the sale, the insider now owns 39,884 shares of the company’s stock, valued at approximately $523,278.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Steven C. Jones sold 89,688 shares of the firm’s stock in a transaction dated Friday, June 22nd. The shares were sold at an average price of $14.04, for a total value of $1,259,219.52. Following the completion of the sale, the insider now directly owns 241,815 shares in the company, valued at approximately $3,395,082.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 511,041 shares of company stock worth $7,038,207. Insiders own 12.20% of the company’s stock.
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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