Gabelli Funds LLC lessened its holdings in NeoGenomics, Inc. (NASDAQ:NEO) by 8.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 132,602 shares of the medical research company’s stock after selling 12,022 shares during the period. Gabelli Funds LLC’s holdings in NeoGenomics were worth $2,713,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in NEO. TIAA CREF Investment Management LLC boosted its holdings in shares of NeoGenomics by 114.8% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 537,022 shares of the medical research company’s stock worth $8,243,000 after purchasing an additional 287,055 shares during the last quarter. Vanguard Group Inc boosted its holdings in shares of NeoGenomics by 24.0% during the 3rd quarter. Vanguard Group Inc now owns 3,839,641 shares of the medical research company’s stock worth $58,939,000 after purchasing an additional 743,245 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of NeoGenomics by 26.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 882,244 shares of the medical research company’s stock worth $13,543,000 after purchasing an additional 182,172 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its holdings in shares of NeoGenomics by 29.0% during the 4th quarter. Los Angeles Capital Management & Equity Research Inc. now owns 64,134 shares of the medical research company’s stock worth $809,000 after purchasing an additional 14,405 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in NeoGenomics by 28.3% in the third quarter. Dimensional Fund Advisors LP now owns 965,790 shares of the medical research company’s stock valued at $14,825,000 after acquiring an additional 212,937 shares during the last quarter. Hedge funds and other institutional investors own 76.36% of the company’s stock.
Shares of NASDAQ NEO opened at $22.92 on Thursday. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of 176.31 and a beta of 0.91. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.46 and a current ratio of 1.59. NeoGenomics, Inc. has a 52-week low of $11.00 and a 52-week high of $23.85.
NeoGenomics (NASDAQ:NEO) last announced its earnings results on Tuesday, April 30th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The company had revenue of $95.60 million for the quarter, compared to analyst estimates of $89.71 million. NeoGenomics had a positive return on equity of 3.07% and a negative net margin of 0.14%. The firm’s quarterly revenue was up 50.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.04 earnings per share. Analysts predict that NeoGenomics, Inc. will post 0.19 earnings per share for the current fiscal year.
In other news, insider Robert J. Shovlin sold 186,014 shares of the company’s stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $18.96, for a total transaction of $3,526,825.44. Following the sale, the insider now owns 40,166 shares of the company’s stock, valued at $761,547.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Raymond R. Hipp sold 150,000 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $22.41, for a total value of $3,361,500.00. Following the sale, the director now directly owns 256,059 shares in the company, valued at approximately $5,738,282.19. The disclosure for this sale can be found here. In the last three months, insiders sold 602,400 shares of company stock worth $12,693,858. 12.20% of the stock is owned by corporate insiders.
A number of research analysts recently commented on the company. Zacks Investment Research cut NeoGenomics from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Needham & Company LLC reiterated a “buy” rating and issued a $24.00 price objective (up from $22.00) on shares of NeoGenomics in a report on Wednesday, May 1st. BidaskClub upgraded NeoGenomics from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 30th. Finally, CIBC upgraded NeoGenomics from a “neutral” rating to an “outperform” rating and decreased their price objective for the company from $18.00 to $15.00 in a report on Tuesday, March 12th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $20.00.
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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; 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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