NeoGenomics, Inc. (NASDAQ:NEO) major shareholder Electric Co General sold 4,164,855 shares of the business’s stock in a transaction dated Friday, November 9th. The stock was sold at an average price of $16.75, for a total value of $69,761,321.25. The sale was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

NASDAQ NEO traded down $0.13 on Tuesday, reaching $16.50. The company had a trading volume of 999,750 shares, compared to its average volume of 532,206. The stock has a market cap of $1.58 billion, a PE ratio of 275.00 and a beta of -0.01. NeoGenomics, Inc. has a 1 year low of $7.08 and a 1 year high of $19.04. The company has a quick ratio of 3.98, a current ratio of 4.13 and a debt-to-equity ratio of 0.32.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings results on Tuesday, October 30th. The medical research company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.03. The firm had revenue of $69.10 million during the quarter, compared to analysts’ expectations of $66.13 million. NeoGenomics had a return on equity of 2.63% and a net margin of 1.70%. NeoGenomics’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.01 EPS. Sell-side analysts anticipate that NeoGenomics, Inc. will post 0.11 EPS for the current fiscal year.

A number of brokerages have recently issued reports on NEO. Benchmark set a $22.00 target price on NeoGenomics and gave the stock a “buy” rating in a report on Thursday, November 1st. Craig Hallum boosted their target price on NeoGenomics from $17.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, October 31st. Raymond James boosted their target price on NeoGenomics from $16.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, October 31st. Zacks Investment Research upgraded NeoGenomics from a “hold” rating to a “strong-buy” rating and set a $21.00 target price for the company in a report on Saturday, November 3rd. Finally, BidaskClub upgraded NeoGenomics from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 27th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $20.00.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. WINTON GROUP Ltd boosted its holdings in NeoGenomics by 23.5% in the 3rd quarter. WINTON GROUP Ltd now owns 25,530 shares of the medical research company’s stock worth $392,000 after acquiring an additional 4,866 shares during the period. American International Group Inc. boosted its holdings in NeoGenomics by 15.5% in the 3rd quarter. American International Group Inc. now owns 42,114 shares of the medical research company’s stock worth $646,000 after acquiring an additional 5,652 shares during the period. Jennison Associates LLC boosted its holdings in NeoGenomics by 18.7% in the 2nd quarter. Jennison Associates LLC now owns 43,736 shares of the medical research company’s stock worth $573,000 after acquiring an additional 6,888 shares during the period. Cornerstone Wealth Management LLC purchased a new position in NeoGenomics in the 2nd quarter worth approximately $528,000. Finally, United Services Automobile Association boosted its holdings in NeoGenomics by 2.1% in the 3rd quarter. United Services Automobile Association now owns 398,683 shares of the medical research company’s stock worth $6,120,000 after acquiring an additional 8,220 shares during the period. Hedge funds and other institutional investors own 82.37% of the company’s stock.

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NeoGenomics Company Profile

NeoGenomics, Inc, together with its subsidiaries, operates a network of cancer-focused genetic testing laboratories in the United States. It operates through Clinical Services and Pharma Services segments. The company laboratories provide genetic and molecular testing services to hospitals, pathologists, oncologists, urologists, other clinicians and researchers, pharmaceutical firms, and other clinical laboratories.

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