Sovereign s Capital Management LLC Acquires New Shares in NeoGenomics, Inc. (NASDAQ:NEO)

Sovereign s Capital Management LLC acquired a new stake in NeoGenomics, Inc. (NASDAQ:NEO) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,717 shares of the medical research company’s stock, valued at approximately $490,000.

Other large investors have also recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P lifted its stake in NeoGenomics by 48.4% during the fourth quarter. Loomis Sayles & Co. L P now owns 1,791,792 shares of the medical research company’s stock worth $29,528,000 after purchasing an additional 584,502 shares in the last quarter. Norges Bank acquired a new position in NeoGenomics during the fourth quarter worth $6,273,000. Jennison Associates LLC lifted its stake in NeoGenomics by 18.7% during the fourth quarter. Jennison Associates LLC now owns 1,514,756 shares of the medical research company’s stock worth $24,963,000 after purchasing an additional 238,288 shares in the last quarter. Greenhouse Funds LLLP lifted its stake in NeoGenomics by 5.3% during the fourth quarter. Greenhouse Funds LLLP now owns 4,701,897 shares of the medical research company’s stock worth $77,487,000 after purchasing an additional 237,491 shares in the last quarter. Finally, Segall Bryant & Hamill LLC lifted its stake in NeoGenomics by 11.6% during the fourth quarter. Segall Bryant & Hamill LLC now owns 2,113,822 shares of the medical research company’s stock worth $34,836,000 after purchasing an additional 220,415 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NeoGenomics news, Director David Brian Perez bought 10,000 shares of the firm’s stock in a transaction dated Monday, May 5th. The stock was acquired at an average price of $7.63 per share, for a total transaction of $76,300.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $76,300. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Anthony P. Zook bought 18,900 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The shares were acquired at an average price of $7.88 per share, with a total value of $148,932.00. Following the purchase, the chief executive officer now directly owns 18,900 shares of the company’s stock, valued at approximately $148,932. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 65,600 shares of company stock valued at $512,438. 2.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on NEO shares. StockNews.com upgraded NeoGenomics from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. Leerink Partners cut NeoGenomics from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $25.00 to $9.00 in a research note on Wednesday, April 30th. Bank of America decreased their price target on NeoGenomics from $19.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Piper Sandler set a $12.00 price target on NeoGenomics and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. Finally, Guggenheim started coverage on NeoGenomics in a research note on Thursday. They set a “neutral” rating on the stock. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, NeoGenomics has an average rating of “Hold” and an average target price of $13.83.

NeoGenomics Stock Up 3.4%

NeoGenomics stock opened at $8.11 on Monday. NeoGenomics, Inc. has a twelve month low of $6.08 and a twelve month high of $19.12. The stock’s fifty day simple moving average is $9.01 and its 200-day simple moving average is $12.89. The company has a current ratio of 1.98, a quick ratio of 1.91 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $1.04 billion, a P/E ratio of -13.08 and a beta of 1.60.

NeoGenomics (NASDAQ:NEO) last posted its earnings results on Tuesday, April 29th. The medical research company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The business had revenue of $168.04 million during the quarter, compared to analysts’ expectations of $171.38 million. NeoGenomics had a negative net margin of 11.92% and a negative return on equity of 2.10%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the company earned ($0.02) EPS. As a group, equities analysts expect that NeoGenomics, Inc. will post -0.2 earnings per share for the current fiscal year.

NeoGenomics Profile

NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States and the United Kingdom. It operates through Clinical Services and Advanced Diagnostics segments. The company offers testing services to hospitals, academic centers, pathologists, oncologists, clinicians, pharmaceutical companies, and clinical laboratories.