NeoGenomics, Inc. (NASDAQ:NEO) Director Steven C. Jones Sells 10,426 Shares of Stock

NeoGenomics, Inc. (NASDAQ:NEO) Director Steven C. Jones sold 10,426 shares of NeoGenomics stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $36.13, for a total value of $376,691.38. Following the completion of the sale, the director now owns 197,932 shares in the company, valued at approximately $7,151,283.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

NASDAQ NEO opened at $36.35 on Friday. NeoGenomics, Inc. has a 1-year low of $18.52 and a 1-year high of $41.03. The company has a market capitalization of $4.08 billion, a P/E ratio of 1,231.33 and a beta of 0.80. The business has a 50 day moving average price of $38.32 and a 200 day moving average price of $31.11. The company has a debt-to-equity ratio of 0.32, a current ratio of 6.79 and a quick ratio of 6.44.

NeoGenomics (NASDAQ:NEO) last announced its earnings results on Tuesday, July 28th. The medical research company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.06. The firm had revenue of $86.90 million for the quarter, compared to analysts’ expectations of $86.55 million. NeoGenomics had a positive return on equity of 0.73% and a negative net margin of 1.33%. NeoGenomics’s quarterly revenue was down 14.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.07 EPS. On average, research analysts expect that NeoGenomics, Inc. will post -0.01 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of NEO. Principal Financial Group Inc. increased its position in shares of NeoGenomics by 4.5% during the second quarter. Principal Financial Group Inc. now owns 837,169 shares of the medical research company’s stock worth $25,935,000 after acquiring an additional 35,844 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of NeoGenomics by 35.9% during the second quarter. PNC Financial Services Group Inc. now owns 35,356 shares of the medical research company’s stock worth $1,096,000 after buying an additional 9,336 shares during the period. Neuberger Berman Group LLC boosted its position in shares of NeoGenomics by 119.8% during the second quarter. Neuberger Berman Group LLC now owns 92,300 shares of the medical research company’s stock worth $2,850,000 after buying an additional 50,300 shares during the period. Handelsbanken Fonder AB bought a new stake in NeoGenomics during the second quarter worth approximately $682,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of NeoGenomics by 14.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 792,705 shares of the medical research company’s stock valued at $24,559,000 after buying an additional 98,047 shares in the last quarter. 91.67% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have commented on NEO shares. Guggenheim started coverage on NeoGenomics in a research report on Friday, August 28th. They issued a “buy” rating and a $46.00 target price on the stock. CIBC downgraded NeoGenomics to a “neutral” rating and cut their price objective for the company from $11.00 to $9.00 in a report on Friday, May 15th. Zacks Investment Research downgraded NeoGenomics from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. BidaskClub downgraded NeoGenomics from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 5th. Finally, Benchmark boosted their price objective on NeoGenomics from $35.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $37.50.

NeoGenomics Company Profile

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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