Concorde Asset Management LLC acquired a new stake in NeoGenomics, Inc. (NASDAQ:NEO) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 21,984 shares of the medical research company’s stock, valued at approximately $811,000.
A number of other hedge funds have also bought and sold shares of NEO. Wellington Management Group LLP grew its holdings in NeoGenomics by 123.3% during the first quarter. Wellington Management Group LLP now owns 50,682 shares of the medical research company’s stock worth $1,400,000 after acquiring an additional 27,986 shares during the period. AQR Capital Management LLC grew its holdings in NeoGenomics by 49.1% in the first quarter. AQR Capital Management LLC now owns 140,591 shares of the medical research company’s stock valued at $3,882,000 after purchasing an additional 46,270 shares during the last quarter. Advisor Group Holdings Inc. acquired a new stake in NeoGenomics in the first quarter valued at $2,611,000. 1832 Asset Management L.P. acquired a new stake in NeoGenomics in the first quarter valued at $2,031,000. Finally, State of Tennessee Treasury Department grew its holdings in NeoGenomics by 12.3% in the first quarter. State of Tennessee Treasury Department now owns 60,051 shares of the medical research company’s stock valued at $1,658,000 after purchasing an additional 6,556 shares during the last quarter. Hedge funds and other institutional investors own 91.67% of the company’s stock.
NASDAQ NEO traded up $0.21 during trading hours on Monday, hitting $41.55. 7,156 shares of the company’s stock were exchanged, compared to its average volume of 900,957. The business’s 50 day moving average is $37.79 and its 200-day moving average is $33.42. NeoGenomics, Inc. has a 12-month low of $20.04 and a 12-month high of $44.58. The firm has a market capitalization of $4.57 billion, a P/E ratio of -828.40 and a beta of 0.80. The company has a debt-to-equity ratio of 0.25, a quick ratio of 6.44 and a current ratio of 6.79.
In other NeoGenomics news, insider George Cardoza sold 82,500 shares of the company’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $39.35, for a total transaction of $3,246,375.00. Following the completion of the sale, the insider now directly owns 433,402 shares in the company, valued at $17,054,368.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven C. Jones sold 10,426 shares of the company’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $36.13, for a total value of $376,691.38. Following the sale, the director now owns 197,932 shares of the company’s stock, valued at $7,151,283.16. The disclosure for this sale can be found here. Insiders have sold 538,006 shares of company stock worth $20,157,671 over the last quarter. 6.50% of the stock is currently owned by company insiders.
Several analysts have weighed in on NEO shares. SVB Leerink upped their target price on NeoGenomics from $35.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Zacks Investment Research lowered NeoGenomics from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. BidaskClub raised NeoGenomics from a “buy” rating to a “strong-buy” rating in a report on Friday, October 9th. Needham & Company LLC upped their target price on NeoGenomics from $33.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Finally, Guggenheim initiated coverage on NeoGenomics in a research report on Friday, August 28th. They issued a “buy” rating and a $46.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. NeoGenomics currently has a consensus rating of “Buy” and a consensus target price of $37.50.
NeoGenomics Company Profile
NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States, as well as 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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