Renaissance Technologies LLC Acquires Shares of 308,664 NeoGenomics, Inc. (NEO)
Renaissance Technologies LLC acquired a new stake in shares of NeoGenomics, Inc. (NASDAQ:NEO) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 308,664 shares of the medical research company’s stock, valued at approximately $2,435,000.
A number of other institutional investors have also recently made changes to their positions in NEO. Gamco Investors INC. ET AL raised its position 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 valued at $608,000 after buying an additional 10,000 shares in the last quarter. Icon Advisers Inc. Co. purchased a new position in shares of NeoGenomics during the first quarter valued at approximately $1,244,000. Renaissance Group LLC raised its position 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 valued at $329,000 after buying an additional 470 shares in the last quarter. Suntrust Banks Inc. raised its position in 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. Finally, Monarch Partners Asset Management LLC bought a new position in NeoGenomics during the first quarter valued at about $295,000. 82.56% of the stock is owned by institutional investors and hedge funds.
NeoGenomics, Inc. (NEO) traded up 0.22% during midday trading on Wednesday, reaching $9.31. The company had a trading volume of 21,269 shares. The company’s market capitalization is $739.10 million. The firm has a 50-day moving average of $9.16 and a 200 day moving average of $8.23. NeoGenomics, Inc. has a 1-year low of $6.90 and a 1-year high of $9.93.
NeoGenomics (NASDAQ:NEO) last released its quarterly earnings results on Tuesday, July 25th. The medical research company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. NeoGenomics had a positive return on equity of 6.09% and a negative net margin of 2.81%. The company had revenue of $66.09 million during the quarter, compared to analysts’ expectations of $62.95 million. During the same period last year, the business posted $0.04 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts forecast that NeoGenomics, Inc. will post $0.18 EPS for the current year.
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Several research firms have recently issued reports on NEO. BidaskClub raised NeoGenomics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 19th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $11.00 price target on shares of NeoGenomics in a research report on Wednesday, April 26th. Zacks Investment Research raised NeoGenomics from a “sell” rating to a “hold” rating in a research report on Saturday, July 29th. ValuEngine raised NeoGenomics from a “sell” rating to a “hold” rating in a research report on Friday, June 23rd. Finally, BTIG Research reaffirmed a “buy” rating and issued a $11.00 price target on shares of NeoGenomics in a research report on Sunday, May 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $10.40.
In other news, insider Steven A. Ross sold 70,833 shares of the firm’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $7.76, for a total value of $549,664.08. Following the completion of the transaction, the insider now directly owns 4,500 shares in the company, valued at $34,920. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Alison L. Hannah acquired 20,000 shares of NeoGenomics stock in a transaction dated Thursday, July 27th. The stock was purchased at an average price of $9.19 per share, with a total value 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 quarter, insiders sold 84,890 shares of company stock valued at $665,707. 12.20% of the stock is currently owned by company insiders.
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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