Citizens Financial Group Inc RI acquired a new stake in NeoGenomics, Inc. (NASDAQ:NEO) in the first quarter, Holdings Channel reports. The firm acquired 3,875 shares of the medical research company’s stock, valued at approximately $107,000.
Other hedge funds have also made changes to their positions in the company. Kopp Family Office LLC purchased a new position in NeoGenomics in the fourth quarter worth approximately $141,705,000. Artisan Partners Limited Partnership lifted its stake in NeoGenomics by 31.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,932,090 shares of the medical research company’s stock worth $85,764,000 after acquiring an additional 705,037 shares during the last quarter. State Street Corp lifted its stake in NeoGenomics by 2.6% in the fourth quarter. State Street Corp now owns 2,770,947 shares of the medical research company’s stock worth $81,050,000 after acquiring an additional 69,457 shares during the last quarter. Granite Investment Partners LLC lifted its stake in NeoGenomics by 5.0% in the fourth quarter. Granite Investment Partners LLC now owns 1,920,723 shares of the medical research company’s stock worth $56,181,000 after acquiring an additional 90,617 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in NeoGenomics by 2.8% in the fourth quarter. Bank of New York Mellon Corp now owns 1,530,925 shares of the medical research company’s stock worth $44,778,000 after acquiring an additional 41,201 shares during the last quarter. Hedge funds and other institutional investors own 86.77% of the company’s stock.
Shares of NeoGenomics stock opened at $28.18 on Friday. The firm’s fifty day simple moving average is $27.58 and its 200-day simple moving average is $28.17. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 214.00 and a beta of 0.79. NeoGenomics, Inc. has a 12 month low of $18.52 and a 12 month high of $34.97. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.18 and a quick ratio of 2.88.
NeoGenomics (NASDAQ:NEO) last announced its earnings results on Tuesday, April 28th. The medical research company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). The business had revenue of $106.03 million during the quarter, compared to analyst estimates of $106.03 million. NeoGenomics had a net margin of 0.82% and a return on equity of 2.94%. The business’s revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.03) earnings per share. Analysts anticipate that NeoGenomics, Inc. will post -0.12 earnings per share for the current year.
A number of research analysts recently issued reports on NEO shares. SVB Leerink reiterated a “buy” rating and issued a $35.00 price target (up previously from $33.00) on shares of NeoGenomics in a research note on Wednesday, April 29th. ValuEngine downgraded shares of NeoGenomics from a “buy” rating to a “hold” rating in a research report on Friday, May 1st. Craig Hallum initiated coverage on shares of NeoGenomics in a research report on Monday, March 2nd. They set a “buy” rating and a $38.00 price objective for the company. BidaskClub upgraded shares of NeoGenomics from a “hold” rating to a “buy” rating in a research report on Thursday, March 26th. Finally, Stephens initiated coverage on shares of NeoGenomics in a research report on Tuesday, April 21st. They set an “overweight” rating and a $33.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $29.67.
In other NeoGenomics news, Director Steven C. Jones sold 297,300 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $28.77, for a total value of $8,553,321.00. Following the transaction, the director now directly owns 195,234 shares of the company’s stock, valued at approximately $5,616,882.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert J. Shovlin sold 98,093 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $30.86, for a total transaction of $3,027,149.98. Following the completion of the transaction, the insider now directly owns 249,733 shares in the company, valued at $7,706,760.38. The disclosure for this sale can be found here. Insiders own 6.50% of the company’s stock.
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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