NeoGenomics, Inc. (NASDAQ:NEO) Stake Raised by Fmr LLC

Fmr LLC boosted its holdings in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 7.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,255 shares of the medical research company’s stock after acquiring an additional 931 shares during the quarter. Fmr LLC’s holdings in NeoGenomics were worth $196,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of NEO. Jennison Associates LLC increased its stake in shares of NeoGenomics by 4.7% in the third quarter. Jennison Associates LLC now owns 1,276,468 shares of the medical research company’s stock worth $18,828,000 after acquiring an additional 57,041 shares during the last quarter. First Light Asset Management LLC increased its position in NeoGenomics by 14.5% in the 2nd quarter. First Light Asset Management LLC now owns 3,782,561 shares of the medical research company’s stock worth $52,464,000 after purchasing an additional 480,396 shares during the last quarter. Blue Trust Inc. raised its stake in shares of NeoGenomics by 42.3% during the 3rd quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company’s stock worth $46,000 after purchasing an additional 987 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of NeoGenomics by 152.6% during the 2nd quarter. Sei Investments Co. now owns 263,761 shares of the medical research company’s stock valued at $3,658,000 after buying an additional 159,350 shares during the last quarter. Finally, Algert Global LLC grew its stake in shares of NeoGenomics by 204.3% in the 3rd quarter. Algert Global LLC now owns 79,983 shares of the medical research company’s stock valued at $1,180,000 after buying an additional 53,700 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

NeoGenomics Stock Performance

Shares of NASDAQ NEO opened at $16.41 on Friday. NeoGenomics, Inc. has a 12 month low of $12.77 and a 12 month high of $21.22. The company has a market cap of $2.11 billion, a P/E ratio of -26.90 and a beta of 1.24. The business’s 50 day moving average is $15.74 and its two-hundred day moving average is $15.25. The company has a quick ratio of 1.91, a current ratio of 1.99 and a debt-to-equity ratio of 0.37.

NeoGenomics (NASDAQ:NEO) last announced its earnings results on Tuesday, November 5th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. The business had revenue of $167.80 million for the quarter, compared to analyst estimates of $167.00 million. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. NeoGenomics’s revenue was up 10.5% compared to the same quarter last year. On average, equities analysts expect that NeoGenomics, Inc. will post -0.16 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on NEO. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 target price on shares of NeoGenomics in a research note on Wednesday, November 6th. Benchmark reiterated a “buy” rating and issued a $18.00 price objective on shares of NeoGenomics in a report on Tuesday, September 24th. Bank of America raised their target price on NeoGenomics from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Finally, Jefferies Financial Group started coverage on NeoGenomics in a research note on Tuesday, December 10th. They set a “buy” rating and a $22.00 price target for the company. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, NeoGenomics has an average rating of “Moderate Buy” and an average price target of $20.30.

Insider Activity at NeoGenomics

In other NeoGenomics news, General Counsel Alicia C. Olivo sold 5,175 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $15.36, for a total value of $79,488.00. Following the completion of the transaction, the general counsel now owns 37,129 shares of the company’s stock, valued at $570,301.44. This represents a 12.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.30% of the stock is owned by corporate insiders.

About NeoGenomics

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.