NeoGenomics, Inc. (NEO) Stake Raised by Northpointe Capital LLC
Northpointe Capital LLC increased its stake in NeoGenomics, Inc. (NASDAQ:NEO) by 91.8% during the second quarter, Holdings Channel reports. The firm owned 927,008 shares of the medical research company’s stock after buying an additional 443,710 shares during the period. Northpointe Capital LLC’s holdings in NeoGenomics were worth $8,306,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. Janus Capital Management LLC bought a new stake in shares of NeoGenomics during the first quarter valued at approximately $13,279,000. Falcon Point Capital LLC increased its stake in shares of NeoGenomics by 338.6% in the second quarter. Falcon Point Capital LLC now owns 1,100,474 shares of the medical research company’s stock valued at $9,860,000 after buying an additional 849,589 shares during the period. Russell Investments Group Ltd. increased its stake in shares of NeoGenomics by 66.1% in the second quarter. Russell Investments Group Ltd. now owns 1,996,710 shares of the medical research company’s stock valued at $17,891,000 after buying an additional 794,281 shares during the period. Granite Investment Partners LLC increased its stake in shares of NeoGenomics by 52.4% in the second quarter. Granite Investment Partners LLC now owns 1,976,020 shares of the medical research company’s stock valued at $17,706,000 after buying an additional 679,778 shares during the period. Finally, Gabelli Funds LLC increased its stake in shares of NeoGenomics by 221.1% in the first quarter. Gabelli Funds LLC now owns 513,795 shares of the medical research company’s stock valued at $4,054,000 after buying an additional 353,795 shares during the period. 82.56% of the stock is owned by institutional investors.
Shares of NeoGenomics, Inc. (NASDAQ:NEO) opened at 9.34 on Tuesday. NeoGenomics, Inc. has a 52-week low of $6.90 and a 52-week high of $9.93. The firm’s market cap is $741.48 million. The company has a 50-day moving average of $9.15 and a 200 day moving average of $8.23.
NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings results on Tuesday, July 25th. The medical research company reported $0.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.03. The company had revenue of $66.09 million for the quarter, compared to analysts’ expectations of $62.95 million. NeoGenomics had a positive return on equity of 6.09% and a negative net margin of 2.81%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.04 earnings per share. On average, equities analysts expect that NeoGenomics, Inc. will post $0.18 earnings per share for the current year.
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Several research firms recently issued reports on NEO. BidaskClub raised shares of NeoGenomics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 19th. BTIG Research reissued a “buy” rating and issued a $11.00 price target on shares of NeoGenomics in a research report on Sunday, May 28th. Zacks Investment Research downgraded shares of NeoGenomics from a “hold” rating to a “sell” rating in a research report on Tuesday, May 9th. ValuEngine raised shares of NeoGenomics from a “sell” rating to a “hold” rating in a research report on Friday, June 23rd. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $11.00 price target on shares of NeoGenomics in a research report on Wednesday, April 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $10.40.
In related news, insider Steven A. Ross sold 70,833 shares of the company’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $7.76, for a total value of $549,664.08. Following the sale, the insider now directly owns 4,500 shares of the company’s stock, valued at $34,920. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Alison L. Hannah purchased 20,000 shares of NeoGenomics stock in a transaction that occurred on Thursday, July 27th. The stock was purchased at an average cost of $9.19 per share, for a total transaction of $183,800.00. Following the completion of the purchase, the director now owns 38,782 shares of the company’s stock, valued at $356,406.58. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 84,890 shares of company stock worth $665,707. 12.20% of the stock is owned by 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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