Bard Associates Inc. reduced its stake in NeoGenomics, Inc. (NASDAQ:NEO) by 0.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 265,223 shares of the medical research company’s stock after selling 1,100 shares during the period. NeoGenomics accounts for about 1.1% of Bard Associates Inc.’s investment portfolio, making the stock its 24th biggest holding. Bard Associates Inc. owned about 0.33% of NeoGenomics worth $2,376,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in NeoGenomics by 7.1% in the first quarter. Vanguard Group Inc. now owns 2,679,783 shares of the medical research company’s stock valued at $21,144,000 after acquiring an additional 176,691 shares during the period. Russell Investments Group Ltd. boosted its stake in 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 acquiring an additional 794,281 shares during the period. Granite Investment Partners LLC boosted its stake in 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 acquiring an additional 679,778 shares during the period. Janus Capital Management LLC acquired a new position in NeoGenomics in the first quarter valued at approximately $13,279,000. Finally, Cowen Prime Services LLC boosted its stake in NeoGenomics by 10.1% in the second quarter. Cowen Prime Services LLC now owns 1,308,726 shares of the medical research company’s stock valued at $11,726,000 after acquiring an additional 120,250 shares during the period. Institutional investors own 80.81% of the company’s stock.
NEO has been the subject of several analyst reports. Zacks Investment Research upgraded NeoGenomics from a “sell” rating to a “hold” rating in a research report on Saturday, July 29th. Gabelli initiated coverage on NeoGenomics in a research report on Thursday, August 24th. They set a “buy” rating and a $9.00 price objective for the company. BidaskClub upgraded NeoGenomics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 2nd. ValuEngine upgraded NeoGenomics from a “sell” rating to a “hold” rating in a research report on Friday, June 23rd. Finally, Cantor Fitzgerald set a $11.00 price objective on NeoGenomics and gave the stock a “buy” rating in a research report on Saturday, May 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. NeoGenomics presently has a consensus rating of “Buy” and an average price target of $10.20.
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In other NeoGenomics news, Director Alison L. Hannah acquired 20,000 shares of NeoGenomics stock in a transaction 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 completion of the purchase, the director now owns 38,782 shares in the company, valued at $356,406.58. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Jennifer Balliet sold 10,723 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $8.49, for a total transaction of $91,038.27. The disclosure for this sale can be found here. 12.20% of the stock is owned by corporate insiders.
Shares of NeoGenomics, Inc. (NASDAQ:NEO) traded down 3.54% during midday trading on Friday, reaching $10.64. The company had a trading volume of 696,406 shares. The firm’s 50 day moving average price is $9.55 and its 200-day moving average price is $8.43. NeoGenomics, Inc. has a 12 month low of $6.90 and a 12 month high of $11.23. The company’s market capitalization is $844.69 million.
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 the Thomson Reuters’ consensus estimate of $0.01 by $0.03. NeoGenomics had a negative net margin of 2.81% and a positive return on equity of 6.09%. The business had revenue of $66.09 million for the quarter, compared to analysts’ expectations of $62.95 million. During the same period in the prior year, the firm earned $0.04 earnings per share. NeoGenomics’s revenue was up 4.7% compared to the same quarter last year. Analysts anticipate that NeoGenomics, Inc. will post $0.18 earnings per share for the current fiscal year.
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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