Vanguard Group Inc. Sells 75,380 Shares of NeoGenomics, Inc. $NEO

Vanguard Group Inc. trimmed its stake in NeoGenomics, Inc. (NASDAQ:NEO) by 0.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,828,355 shares of the medical research company’s stock after selling 75,380 shares during the period. Vanguard Group Inc. owned 0.11% of NeoGenomics worth $162,621,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in NEO. First Light Asset Management LLC grew its holdings in NeoGenomics by 45.0% in the 3rd quarter. First Light Asset Management LLC now owns 9,927,269 shares of the medical research company’s stock valued at $76,639,000 after buying an additional 3,080,837 shares during the last quarter. Greenhouse Funds LLLP grew its holdings in NeoGenomics by 10.6% in the 3rd quarter. Greenhouse Funds LLLP now owns 8,220,657 shares of the medical research company’s stock valued at $63,463,000 after buying an additional 789,510 shares during the last quarter. American Capital Management Inc. grew its holdings in NeoGenomics by 120.9% in the 3rd quarter. American Capital Management Inc. now owns 2,345,263 shares of the medical research company’s stock valued at $18,105,000 after buying an additional 1,283,390 shares during the last quarter. Aberdeen Group plc grew its holdings in NeoGenomics by 127.1% in the 4th quarter. Aberdeen Group plc now owns 1,798,939 shares of the medical research company’s stock valued at $21,156,000 after buying an additional 1,006,676 shares during the last quarter. Finally, Glenmede Investment Management LP grew its holdings in NeoGenomics by 44.9% in the 3rd quarter. Glenmede Investment Management LP now owns 1,561,790 shares of the medical research company’s stock valued at $12,057,000 after buying an additional 484,005 shares during the last quarter. 98.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on NEO shares. Needham & Company LLC raised their target price on NeoGenomics from $14.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. William Blair reaffirmed a “market perform” rating on shares of NeoGenomics in a report on Monday, March 16th. TD Cowen raised their target price on NeoGenomics from $13.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Benchmark raised NeoGenomics from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Wednesday, April 29th. Finally, Piper Sandler raised their target price on NeoGenomics from $12.00 to $13.00 and gave the company an “overweight” rating in a report on Tuesday, February 24th. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $13.86.

NeoGenomics Price Performance

Shares of NASDAQ:NEO opened at $8.96 on Monday. NeoGenomics, Inc. has a 1-year low of $4.72 and a 1-year high of $13.74. The firm has a market capitalization of $1.17 billion, a PE ratio of -11.64 and a beta of 1.81. The business’s 50 day moving average is $8.41 and its 200-day moving average is $10.42. The company has a current ratio of 4.42, a quick ratio of 4.06 and a debt-to-equity ratio of 0.41.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings data on Tuesday, April 28th. The medical research company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. NeoGenomics had a negative return on equity of 2.80% and a negative net margin of 13.30%.The company had revenue of $186.67 million for the quarter, compared to analyst estimates of $184.54 million. The company’s revenue was up 11.3% compared to the same quarter last year. Sell-side analysts predict that NeoGenomics, Inc. will post -0.15 earnings per share for the current year.

About NeoGenomics

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.