Granite Investment Partners LLC Has $17.71 Million Position in NeoGenomics, Inc. (NASDAQ:NEO)
Granite Investment Partners LLC boosted its position in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 52.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 1,976,020 shares of the medical research company’s stock after buying an additional 679,778 shares during the period. NeoGenomics makes up about 1.2% of Granite Investment Partners LLC’s portfolio, making the stock its 10th largest position. Granite Investment Partners LLC’s holdings in NeoGenomics were worth $17,706,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Gamco Investors INC. ET AL boosted its stake in shares of NeoGenomics by 14.9% in the first quarter. Gamco Investors INC. ET AL now owns 77,000 shares of the medical research company’s stock worth $608,000 after buying an additional 10,000 shares during the last quarter. Icon Advisers Inc. Co. purchased a new stake in shares of NeoGenomics during the first quarter worth about $1,244,000. Renaissance Group LLC boosted its stake in shares of NeoGenomics by 1.1% in the first quarter. Renaissance Group LLC now owns 41,646 shares of the medical research company’s stock worth $329,000 after buying an additional 470 shares during the last quarter. Suntrust Banks Inc. boosted its stake 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 worth $249,000 after buying an additional 184 shares during the last quarter. Finally, Monarch Partners Asset Management LLC purchased a new stake in shares of NeoGenomics during the first quarter worth about $295,000. 78.31% of the stock is currently owned by institutional investors.
NeoGenomics, Inc. (NASDAQ:NEO) opened at 9.32 on Thursday. The firm has a 50-day moving average of $9.09 and a 200 day moving average of $8.21. The company’s market capitalization is $738.49 million. NeoGenomics, Inc. has a 12-month low of $6.90 and a 12-month high of $9.93.
NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings data on Tuesday, July 25th. The medical research company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.01 by $0.03. The company 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%. NeoGenomics’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.04 earnings per share. Analysts forecast that NeoGenomics, Inc. will post $0.18 EPS for the current fiscal year.
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A number of brokerages have recently issued reports on NEO. Zacks Investment Research raised shares of NeoGenomics from a “sell” rating to a “hold” rating in a report on Saturday, July 29th. ValuEngine raised shares of NeoGenomics from a “sell” rating to a “hold” rating in a report on Monday. BidaskClub cut shares of NeoGenomics from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Cantor Fitzgerald reissued a “buy” rating and issued a $11.00 price target on shares of NeoGenomics in a report on Wednesday, April 26th. Finally, BTIG Research reissued a “buy” rating and issued a $11.00 price target on shares of NeoGenomics in a report on Sunday, May 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $10.40.
In related news, VP Jennifer Balliet sold 3,334 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $7.50, for a total transaction of $25,005.00. Following the completion of the transaction, the vice president now owns 10,049 shares of the company’s stock, valued at $75,367.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Alison L. Hannah acquired 20,000 shares of NeoGenomics stock in a transaction that occurred on Thursday, July 27th. The shares were purchased at an average cost of $9.19 per share, with a total value of $183,800.00. Following the purchase, the director now owns 38,782 shares of the company’s stock, valued at approximately $356,406.58. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 84,890 shares of company stock valued at $665,707. 12.20% of the stock is owned by corporate insiders.
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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