NeoGenomics, Inc. (NASDAQ:NEO) announced its quarterly earnings results on Tuesday, July 25th. The medical research company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03, Bloomberg Earnings reports. The firm had revenue of $66.09 million for the quarter, compared to the consensus estimate of $62.95 million. NeoGenomics had a positive return on equity of 6.09% and a negative net margin of 2.81%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.04 earnings per share. NeoGenomics updated its FY17 guidance to $0.17-0.21 EPS.
NeoGenomics (NASDAQ:NEO) traded down 0.97% on Friday, hitting $9.16. The stock had a trading volume of 258,607 shares. The company’s market cap is $727.19 million. NeoGenomics has a 52-week low of $6.90 and a 52-week high of $9.93. The company has a 50 day moving average price of $9.20 and a 200-day moving average price of $8.26.
In related news, Director Alison L. Hannah acquired 20,000 shares of the firm’s stock in a transaction dated Thursday, July 27th. The stock was acquired at an average price of $9.19 per share, with a total value of $183,800.00. Following the acquisition, the director now directly owns 38,782 shares in the company, valued at approximately $356,406.58. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Jennifer Balliet sold 3,334 shares of the business’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $7.50, for a total value of $25,005.00. Following the completion of the transaction, the vice president now directly owns 10,049 shares of the company’s stock, valued at approximately $75,367.50. The disclosure for this sale can be found here. In the last three months, insiders sold 84,890 shares of company stock valued at $665,707. Insiders own 12.20% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in NEO. Falcon Point Capital LLC boosted its position in NeoGenomics by 338.6% in the second quarter. Falcon Point Capital LLC now owns 1,100,474 shares of the medical research company’s stock worth $9,860,000 after buying an additional 849,589 shares during the last quarter. Spark Investment Management LLC purchased a new stake in NeoGenomics during the first quarter valued at approximately $1,012,000. Suffolk Capital Management LLC raised its stake in NeoGenomics by 12.2% in the second quarter. Suffolk Capital Management LLC now owns 199,569 shares of the medical research company’s stock valued at $1,788,000 after buying an additional 21,621 shares during the period. Hudson Bay Capital Management LP purchased a new stake in NeoGenomics during the fourth quarter valued at approximately $1,286,000. Finally, Tudor Investment Corp ET AL raised its stake in NeoGenomics by 69.8% in the first quarter. Tudor Investment Corp ET AL now owns 45,632 shares of the medical research company’s stock valued at $360,000 after buying an additional 18,762 shares during the period. 82.56% of the stock is owned by institutional investors.
A number of research analysts have recently issued reports on the company. Cantor Fitzgerald set a $11.00 price target on NeoGenomics and gave the company a “buy” rating in a report on Saturday, May 27th. ValuEngine raised NeoGenomics from a “sell” rating to a “hold” rating in a report on Monday, August 7th. BidaskClub downgraded NeoGenomics from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Zacks Investment Research downgraded NeoGenomics from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Finally, BTIG Research reissued a “buy” rating and issued a $11.00 target price on shares of NeoGenomics in a report on Sunday, May 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $10.40.
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NeoGenomics Company Profile
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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