Rice Hall James & Associates LLC Acquires Shares of 318,108 NeoGenomics, Inc. (NASDAQ:NEO)
Rice Hall James & Associates LLC acquired a new position in NeoGenomics, Inc. (NASDAQ:NEO) during the second quarter, Holdings Channel reports. The institutional investor acquired 318,108 shares of the medical research company’s stock, valued at approximately $2,850,000.
Several other institutional investors have also added to or reduced their stakes in NEO. Spark Investment Management LLC purchased a new position in shares of NeoGenomics during the first quarter valued at about $1,012,000. KCG Holdings Inc. purchased a new position in shares of NeoGenomics during the first quarter valued at about $118,000. Blair William & Co. IL increased its position in shares of NeoGenomics by 38.2% in the first quarter. Blair William & Co. IL now owns 349,459 shares of the medical research company’s stock valued at $2,797,000 after buying an additional 96,639 shares in the last quarter. Suffolk Capital Management LLC increased its position in shares of NeoGenomics by 12.2% in the second quarter. Suffolk Capital Management LLC now owns 199,569 shares of the medical research company’s stock valued at $1,788,000 after buying an additional 21,621 shares in the last quarter. Finally, Suntrust Banks Inc. increased its position in shares of NeoGenomics by 0.6% in the first quarter. Suntrust Banks Inc. now owns 31,617 shares of the medical research company’s stock valued at $249,000 after buying an additional 184 shares in the last quarter. 78.31% of the stock is owned by institutional investors.
NeoGenomics, Inc. (NASDAQ NEO) opened at 9.49 on Friday. NeoGenomics, Inc. has a 52 week low of $6.90 and a 52 week high of $9.93. The company’s market capitalization is $753.39 million. The firm has a 50 day moving average of $9.13 and a 200-day moving average of $8.22.
NeoGenomics (NASDAQ:NEO) last posted its earnings results on Tuesday, July 25th. The medical research company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. The firm had revenue of $66.09 million during the quarter, compared to analysts’ expectations of $62.95 million. NeoGenomics had a negative net margin of 2.81% and a positive return on equity of 6.09%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.04 earnings per share. On average, analysts forecast that NeoGenomics, Inc. will post $0.18 earnings per share for the current year.
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Several equities analysts recently issued reports on NEO shares. Zacks Investment Research downgraded shares of NeoGenomics from a “hold” rating to a “sell” rating in a report on Tuesday, May 9th. Cantor Fitzgerald set a $11.00 target price on shares of NeoGenomics and gave the stock a “buy” rating in a research note on Saturday, May 27th. BTIG Research reaffirmed a “buy” rating and issued a $11.00 target price on shares of NeoGenomics in a research note on Sunday, May 28th. ValuEngine raised shares of NeoGenomics from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. Finally, BidaskClub downgraded shares of NeoGenomics from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $10.40.
In related news, VP Jennifer Balliet sold 10,723 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $8.49, for a total value of $91,038.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alison L. Hannah acquired 20,000 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The stock was acquired at an average price of $9.19 per share, with a total value of $183,800.00. Following the acquisition, the director now owns 38,782 shares in the company, valued at $356,406.58. The disclosure for this purchase can be found here. Insiders sold 84,890 shares of company stock valued at $665,707 in the last three months. Company insiders own 12.20% of the company’s stock.
NeoGenomics Company Profile
NeoGenomics, Inc is an operator of a network of cancer-focused genetic testing laboratories. The Company operates in Laboratory Testing Segment. This segment delivers testing services to hospitals, pathologists, oncologists, other clinicians and researchers. It has laboratory locations in Ft. Myers and Tampa, Florida; Aliso Viejo, Fresno, Irvine, and West Sacramento, California; Houston, Texas and Nashville, and Tennessee.
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