NeoGenomics, Inc. (NASDAQ:NEO) announced its quarterly earnings data on Tuesday, July 25th. The medical research company reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.03, Bloomberg Earnings reports. The business had revenue of $66.09 million during the quarter, compared to analyst estimates of $62.95 million. NeoGenomics had a positive return on equity of 6.02% and a negative net margin of 2.81%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.04 earnings per share. NeoGenomics updated its FY17 guidance to $0.17-0.21 EPS.
Shares of NeoGenomics (NASDAQ NEO) traded down 1.70% during midday trading on Friday, reaching $9.25. The company had a trading volume of 101,716 shares. The company’s 50-day moving average is $8.89 and its 200-day moving average is $8.16. The firm’s market cap is $732.94 million. NeoGenomics has a 52-week low of $6.90 and a 52-week high of $9.93.
Several equities research analysts have recently commented on NEO shares. Zacks Investment Research raised NeoGenomics from a “sell” rating to a “hold” rating in a report on Saturday, July 29th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $11.00 target price on shares of NeoGenomics in a report on Wednesday, April 26th. ValuEngine raised NeoGenomics from a “sell” rating to a “hold” rating in a report on Friday, June 23rd. BidaskClub raised NeoGenomics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 19th. Finally, BTIG Research reaffirmed a “buy” rating and set 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 assigned a hold rating and five have assigned a buy rating to the company. NeoGenomics presently has an average rating of “Buy” and a consensus target price of $10.40.
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In other NeoGenomics news, Director Alison L. Hannah acquired 20,000 shares of NeoGenomics stock in a transaction that occurred on Thursday, July 27th. The stock was acquired at an average cost of $9.19 per share, for a total transaction of $183,800.00. Following the purchase, the director now owns 38,782 shares of the company’s stock, valued at $356,406.58. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jennifer Balliet sold 3,334 shares of NeoGenomics stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $7.50, for a total transaction of $25,005.00. Following the completion of the transaction, the vice president now owns 10,049 shares of the company’s stock, valued at $75,367.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 84,890 shares of company stock valued at $665,707. 12.20% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NEO. Vanguard Group Inc. increased 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 worth $21,144,000 after buying an additional 176,691 shares in the last quarter. Russell Investments Group Ltd. increased 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 buying an additional 794,281 shares in the last quarter. Granite Investment Partners LLC increased 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 buying an additional 679,778 shares in the last quarter. Janus Capital Management LLC acquired a new stake in NeoGenomics during the first quarter valued at $13,279,000. Finally, Emerald Advisers Inc. PA increased its stake in NeoGenomics by 30.5% in the first quarter. Emerald Advisers Inc. PA now owns 1,274,860 shares of the medical research company’s stock valued at $10,059,000 after buying an additional 297,604 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.
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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