Proficio Capital Partners LLC Invests $372,000 in NeoGenomics, Inc. (NASDAQ:NEO)

Proficio Capital Partners LLC acquired a new stake in NeoGenomics, Inc. (NASDAQ:NEO) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 22,561 shares of the medical research company’s stock, valued at approximately $372,000.

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

NeoGenomics Stock Down 10.0 %

Shares of NASDAQ NEO opened at $9.09 on Tuesday. The stock has a market cap of $1.17 billion, a P/E ratio of -14.66 and a beta of 1.28. The business’s fifty day simple moving average is $13.63 and its 200-day simple moving average is $14.96. NeoGenomics, Inc. has a 12-month low of $8.98 and a 12-month high of $19.12. The company has a current ratio of 1.98, a quick ratio of 1.91 and a debt-to-equity ratio of 0.38.

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

Wall Street Analyst Weigh In

NEO has been the topic of a number of analyst reports. Benchmark downgraded shares of NeoGenomics from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Jefferies Financial Group assumed coverage on NeoGenomics in a research note on Tuesday, December 10th. They set a “buy” rating and a $22.00 target price for the company. Piper Sandler decreased their price target on NeoGenomics from $21.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. 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, Needham & Company LLC dropped their price target on shares of NeoGenomics from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.60.

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.