Principal Financial Group Inc. Sells 26,000 Shares of NeoGenomics, Inc. (NASDAQ:NEO)

Principal Financial Group Inc. cut its holdings in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 4.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 604,394 shares of the medical research company’s stock after selling 26,000 shares during the period. Principal Financial Group Inc. owned about 0.47% of NeoGenomics worth $8,915,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in NEO. Arizona State Retirement System lifted its holdings in shares of NeoGenomics by 2.0% during the second quarter. Arizona State Retirement System now owns 35,739 shares of the medical research company’s stock worth $496,000 after purchasing an additional 708 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in NeoGenomics by 2.9% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 29,494 shares of the medical research company’s stock worth $409,000 after buying an additional 842 shares during the period. Fernwood Investment Management LLC lifted its holdings in NeoGenomics by 1.0% during the 3rd quarter. Fernwood Investment Management LLC now owns 89,500 shares of the medical research company’s stock worth $1,320,000 after buying an additional 900 shares during the period. Blue Trust Inc. grew its position in shares of NeoGenomics by 42.3% in the 3rd quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company’s stock valued at $46,000 after buying an additional 987 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of NeoGenomics by 3.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 32,505 shares of the medical research company’s stock valued at $451,000 after buying an additional 1,030 shares during the period. 98.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NEO shares. Benchmark reaffirmed a “buy” rating and issued a $18.00 price objective on shares of NeoGenomics in a research note on Tuesday, September 24th. Stephens reaffirmed an “overweight” rating and issued a $19.00 price objective on shares of NeoGenomics in a research note on Tuesday, July 30th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $19.00 price objective on shares of NeoGenomics in a research report on Wednesday, November 6th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $20.25.

NeoGenomics Stock Performance

Shares of NEO stock opened at $15.01 on Tuesday. The firm has a 50 day moving average of $14.67 and a 200-day moving average of $14.82. The company has a market cap of $1.93 billion, a price-to-earnings ratio of -24.61 and a beta of 1.19. 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, Inc. has a 52 week low of $12.77 and a 52 week high of $21.22.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results on Tuesday, November 5th. The medical research company reported $0.05 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 during the quarter, compared to analysts’ expectations of $167.00 million. During the same period last year, the company posted ($0.06) earnings per share. The business’s quarterly revenue was up 10.5% on a year-over-year basis. On average, equities analysts forecast that NeoGenomics, Inc. will post -0.17 earnings per share for the current year.

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.