Truist Financial Corp Sells 4,699 Shares of NeoGenomics, Inc. (NASDAQ:NEO)

Truist Financial Corp reduced its position in NeoGenomics, Inc. (NASDAQ:NEO) by 11.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,150 shares of the medical research company’s stock after selling 4,699 shares during the period. Truist Financial Corp’s holdings in NeoGenomics were worth $488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Algert Global LLC increased its holdings in shares of NeoGenomics by 95.6% in the second quarter. Algert Global LLC now owns 26,283 shares of the medical research company’s stock worth $365,000 after purchasing an additional 12,843 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in NeoGenomics by 4.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 70,595 shares of the medical research company’s stock valued at $979,000 after acquiring an additional 2,904 shares in the last quarter. Squarepoint Ops LLC bought a new stake in NeoGenomics during the 2nd quarter valued at $517,000. First Light Asset Management LLC lifted its holdings in shares of NeoGenomics by 14.5% during the 2nd quarter. First Light Asset Management LLC now owns 3,782,561 shares of the medical research company’s stock valued at $52,464,000 after purchasing an additional 480,396 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in shares of NeoGenomics by 7.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 280,981 shares of the medical research company’s stock valued at $3,897,000 after purchasing an additional 19,712 shares during the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

NeoGenomics Stock Down 1.4 %

Shares of NASDAQ NEO opened at $13.83 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.93 and a current ratio of 2.01. The firm has a market cap of $1.77 billion, a P/E ratio of -20.95 and a beta of 1.19. NeoGenomics, Inc. has a 1 year low of $12.51 and a 1 year high of $21.22. The firm’s 50 day moving average price is $15.51 and its 200 day moving average price is $14.81.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings results on Monday, July 29th. The medical research company reported $0.03 earnings per share (EPS) for the quarter. The firm had revenue of $164.50 million for the quarter, compared to the consensus estimate of $161.82 million. NeoGenomics had a negative net margin of 12.50% and a negative return on equity of 2.72%. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.09) EPS. As a group, sell-side analysts anticipate that NeoGenomics, Inc. will post -0.21 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NEO. Needham & Company LLC restated a “buy” rating and issued a $19.00 target price on shares of NeoGenomics in a research note on Wednesday, September 25th. Benchmark restated a “buy” rating and set a $18.00 target price on shares of NeoGenomics in a research report on Tuesday, September 24th. Finally, Stephens reiterated an “overweight” rating and issued a $19.00 price objective on shares of NeoGenomics in a report on Tuesday, July 30th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, NeoGenomics presently has a consensus rating of “Moderate Buy” and an average price target of $19.89.

NeoGenomics Profile

NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States and the United Kingdom. It operates through Clinical Services and Advanced Diagnostics segments. The company offers testing services to hospitals, academic centers, pathologists, oncologists, clinicians, pharmaceutical companies, and clinical laboratories.