Russell Investments Group Ltd. Sells 211,489 Shares of NeoGenomics, Inc. (NASDAQ:NEO)
Russell Investments Group Ltd. cut its position in NeoGenomics, Inc. (NASDAQ:NEO) by 41.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 300,326 shares of the medical research company’s stock after selling 211,489 shares during the quarter. Russell Investments Group Ltd. owned about 0.29% of NeoGenomics worth $8,290,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the stock. Kopp Family Office LLC bought a new position in shares of NeoGenomics in the fourth quarter valued at $141,705,000. Artisan Partners Limited Partnership grew its stake in shares of NeoGenomics by 31.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,932,090 shares of the medical research company’s stock valued at $85,764,000 after buying an additional 705,037 shares in the last quarter. State Street Corp grew its stake in shares of NeoGenomics by 2.6% in the fourth quarter. State Street Corp now owns 2,770,947 shares of the medical research company’s stock valued at $81,050,000 after buying an additional 69,457 shares in the last quarter. Granite Investment Partners LLC grew its stake in shares of NeoGenomics by 5.0% in the fourth quarter. Granite Investment Partners LLC now owns 1,920,723 shares of the medical research company’s stock valued at $56,181,000 after buying an additional 90,617 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of NeoGenomics by 2.8% in the fourth quarter. Bank of New York Mellon Corp now owns 1,530,925 shares of the medical research company’s stock valued at $44,778,000 after buying an additional 41,201 shares in the last quarter. 86.77% of the stock is owned by institutional investors and hedge funds.
NEO has been the subject of a number of research analyst reports. First Analysis raised shares of NeoGenomics from an “outperform” rating to a “strong-buy” rating and set a $35.00 price objective for the company in a research report on Friday, February 28th. SVB Leerink reaffirmed a “buy” rating and set a $35.00 price objective (up from $33.00) on shares of NeoGenomics in a research report on Wednesday, April 29th. Stephens initiated coverage on shares of NeoGenomics in a research report on Tuesday, April 21st. They set an “overweight” rating and a $33.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $33.00 price objective on shares of NeoGenomics in a research report on Wednesday, April 29th. Finally, Craig Hallum initiated coverage on shares of NeoGenomics in a research report on Monday, March 2nd. They set a “buy” rating and a $38.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. NeoGenomics presently has an average rating of “Buy” and a consensus target price of $29.67.
NEO opened at $28.18 on Friday. NeoGenomics, Inc. has a fifty-two week low of $18.52 and a fifty-two week high of $34.97. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.88 and a current ratio of 3.18. The company has a market capitalization of $2.93 billion, a P/E ratio of 214.00 and a beta of 0.79. The stock has a fifty day moving average of $27.58 and a 200-day moving average of $28.17.
NeoGenomics (NASDAQ:NEO) last posted its earnings results on Tuesday, April 28th. The medical research company reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.04). NeoGenomics had a return on equity of 2.94% and a net margin of 0.82%. The firm had revenue of $106.03 million for the quarter, compared to analyst estimates of $106.03 million. During the same period in the prior year, the business posted ($0.03) EPS. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. On average, equities research analysts predict that NeoGenomics, Inc. will post -0.12 earnings per share for the current fiscal year.
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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