NeoGenomics, Inc. $NEO Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA lowered its stake in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 8.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,297,183 shares of the medical research company’s stock after selling 113,652 shares during the period. Glenmede Trust Co. NA owned approximately 1.00% of NeoGenomics worth $9,625,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in NEO. First Horizon Corp grew its stake in shares of NeoGenomics by 52.6% in the fourth quarter. First Horizon Corp now owns 2,509 shares of the medical research company’s stock valued at $30,000 after buying an additional 865 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of NeoGenomics in the 2nd quarter valued at $32,000. Caitong International Asset Management Co. Ltd lifted its stake in NeoGenomics by 110.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,968 shares of the medical research company’s stock worth $35,000 after acquiring an additional 1,556 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in NeoGenomics during the 4th quarter valued at about $39,000. Finally, Smartleaf Asset Management LLC boosted its holdings in NeoGenomics by 77.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,466 shares of the medical research company’s stock valued at $42,000 after acquiring an additional 1,515 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

Analyst Upgrades and Downgrades

NEO has been the topic of a number of recent research reports. TD Cowen reiterated a “buy” rating on shares of NeoGenomics in a research note on Wednesday, July 15th. Wall Street Zen raised shares of NeoGenomics from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. Craig Hallum restated a “buy” rating and issued a $19.00 price objective on shares of NeoGenomics in a report on Wednesday, July 29th. Weiss Ratings raised shares of NeoGenomics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. Finally, Leerink Partners upgraded shares of NeoGenomics from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $12.00 to $25.00 in a report on Wednesday, April 29th. Seven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $16.71.

Insider Transactions at NeoGenomics

In other NeoGenomics news, Director Lynn A. Tetrault sold 5,307 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $11.29, for a total value of $59,916.03. Following the transaction, the director directly owned 91,422 shares in the company, valued at $1,032,154.38. This represents a 5.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is owned by company insiders.

NeoGenomics Stock Performance

Shares of NeoGenomics stock opened at $15.84 on Tuesday. The business has a 50-day simple moving average of $12.91 and a 200-day simple moving average of $10.73. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.35 and a current ratio of 3.60. NeoGenomics, Inc. has a one year low of $5.09 and a one year high of $16.34. The company has a market cap of $2.04 billion, a PE ratio of -39.60 and a beta of 1.74.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings results on Tuesday, July 28th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. NeoGenomics had a negative return on equity of 1.99% and a negative net margin of 6.77%.The company had revenue of $201.66 million during the quarter, compared to the consensus estimate of $196.93 million. During the same period in the previous year, the business earned $0.03 EPS. NeoGenomics’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, equities research analysts forecast that NeoGenomics, Inc. will post -0.15 EPS for the current fiscal year.

NeoGenomics Profile

NeoGenomics, traded on the Nasdaq under the symbol NEO, is a leading provider of cancer-focused genetic and molecular testing services. Headquartered in Fort Myers, Florida, the company operates an integrated network of CAP-accredited and CLIA-certified laboratories across the United States, Europe and Asia. NeoGenomics delivers diagnostic insights that support oncologists, pathologists and healthcare institutions in the detection, prognosis and treatment of hematologic and solid tumor cancers.

The company’s core service offerings include flow cytometry, immunohistochemistry, fluorescence in situ hybridization (FISH), karyotyping and advanced molecular assays such as next-generation sequencing (NGS) panels and polymerase chain reaction (PCR) tests.