Vanguard Group Inc. Sells 227,026 Shares of NeoGenomics, Inc. $NEO

Vanguard Group Inc. trimmed its position in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 1.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 13,903,735 shares of the medical research company’s stock after selling 227,026 shares during the quarter. Vanguard Group Inc. owned approximately 0.11% of NeoGenomics worth $107,337,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Greenhouse Funds LLLP raised its holdings in shares of NeoGenomics by 57.8% in the second quarter. Greenhouse Funds LLLP now owns 7,431,147 shares of the medical research company’s stock worth $54,322,000 after buying an additional 2,722,823 shares during the period. First Light Asset Management LLC lifted its holdings in NeoGenomics by 13.3% during the 2nd quarter. First Light Asset Management LLC now owns 6,846,432 shares of the medical research company’s stock valued at $50,047,000 after buying an additional 803,610 shares in the last quarter. American Century Companies Inc. grew its stake in NeoGenomics by 6.0% in the 2nd quarter. American Century Companies Inc. now owns 3,517,478 shares of the medical research company’s stock worth $25,713,000 after acquiring an additional 197,876 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of NeoGenomics by 0.8% in the second quarter. Geode Capital Management LLC now owns 3,156,621 shares of the medical research company’s stock valued at $23,078,000 after purchasing an additional 26,224 shares during the period. Finally, Segall Bryant & Hamill LLC increased its holdings in NeoGenomics by 0.5% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 2,362,049 shares of the medical research company’s stock worth $17,267,000 after purchasing an additional 11,303 shares during the period. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Analyst Upgrades and Downgrades

NEO has been the topic of a number of recent research reports. Needham & Company LLC increased their price objective on shares of NeoGenomics from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NeoGenomics in a research report on Monday, December 29th. Piper Sandler upped their price target on NeoGenomics from $12.00 to $13.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 24th. UBS Group reaffirmed a “hold” rating on shares of NeoGenomics in a research report on Wednesday, February 18th. Finally, Zacks Research lowered shares of NeoGenomics from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Five research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $11.86.

Insider Transactions at NeoGenomics

In related news, COO Warren Stone sold 22,128 shares of the firm’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $12.50, for a total transaction of $276,600.00. Following the sale, the chief operating officer owned 121,631 shares in the company, valued at approximately $1,520,387.50. This trade represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.40% of the company’s stock.

NeoGenomics Stock Performance

Shares of NASDAQ NEO opened at $9.10 on Thursday. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -10.83 and a beta of 1.62. NeoGenomics, Inc. has a 12 month low of $4.72 and a 12 month high of $13.74. The company has a 50 day simple moving average of $11.69 and a two-hundred day simple moving average of $10.38. The company has a current ratio of 4.26, a quick ratio of 3.94 and a debt-to-equity ratio of 0.41.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results on Tuesday, February 17th. The medical research company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.04 by $0.02. The company had revenue of $190.17 million for the quarter, compared to analyst estimates of $188.25 million. NeoGenomics had a negative net margin of 14.85% and a negative return on equity of 3.10%. The firm’s revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.04 earnings per share. As a group, analysts predict that NeoGenomics, Inc. will post -0.2 earnings per share for the current 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.