Bank of New York Mellon Corp Purchases 15,269 Shares of NeoGenomics, Inc. (NASDAQ:NEO)

Bank of New York Mellon Corp boosted its position in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 1.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 849,752 shares of the medical research company’s stock after purchasing an additional 15,269 shares during the quarter. Bank of New York Mellon Corp owned about 0.66% of NeoGenomics worth $14,004,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. State Street Corp boosted its stake in shares of NeoGenomics by 1.6% during the third quarter. State Street Corp now owns 4,958,582 shares of the medical research company’s stock valued at $73,139,000 after purchasing an additional 80,449 shares in the last quarter. Geode Capital Management LLC boosted its position in NeoGenomics by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 3,051,806 shares of the medical research company’s stock valued at $45,022,000 after acquiring an additional 36,136 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of NeoGenomics by 2.0% in the 3rd quarter. Franklin Resources Inc. now owns 2,043,840 shares of the medical research company’s stock valued at $28,225,000 after acquiring an additional 39,740 shares during the period. Segall Bryant & Hamill LLC raised its position in shares of NeoGenomics by 67.0% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,893,407 shares of the medical research company’s stock worth $27,928,000 after acquiring an additional 759,524 shares in the last quarter. Finally, Bellevue Group AG lifted its stake in shares of NeoGenomics by 34.2% during the 3rd quarter. Bellevue Group AG now owns 1,612,612 shares of the medical research company’s stock worth $23,786,000 after purchasing an additional 410,516 shares during the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NEO has been the subject of several recent analyst reports. Needham & Company LLC reduced their price objective on shares of NeoGenomics from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. The Goldman Sachs Group lowered their price objective on NeoGenomics from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Benchmark downgraded NeoGenomics from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Bank of America lowered their price target on NeoGenomics from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Finally, Jefferies Financial Group started coverage on shares of NeoGenomics in a research note on Tuesday, December 10th. They issued a “buy” rating and a $22.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, NeoGenomics presently has an average rating of “Moderate Buy” and an average target price of $19.60.

NeoGenomics Stock Performance

Shares of NASDAQ NEO opened at $10.23 on Thursday. NeoGenomics, Inc. has a 1 year low of $8.98 and a 1 year high of $19.12. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.91 and a current ratio of 1.98. The company’s fifty day moving average price is $13.39 and its 200 day moving average price is $14.89. The company has a market capitalization of $1.31 billion, a PE ratio of -16.50 and a beta of 1.28.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data on Tuesday, February 18th. The medical research company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). NeoGenomics had a negative return on equity of 2.10% and a negative net margin of 11.92%. The company had revenue of $172.00 million for the quarter, compared to analyst estimates of $173.40 million. On average, research analysts predict that NeoGenomics, Inc. will post -0.2 earnings per share for the current year.

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.