Royce & Associates LP Boosts Holdings in NeoGenomics, Inc. (NASDAQ:NEO)

Royce & Associates LP grew its position in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 5.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 675,866 shares of the medical research company’s stock after purchasing an additional 36,390 shares during the period. Royce & Associates LP owned approximately 0.53% of NeoGenomics worth $11,138,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NEO. SBI Securities Co. Ltd. purchased a new position in NeoGenomics during the fourth quarter worth about $26,000. Versant Capital Management Inc grew its holdings in shares of NeoGenomics by 174.9% during the fourth quarter. Versant Capital Management Inc now owns 1,795 shares of the medical research company’s stock worth $30,000 after purchasing an additional 1,142 shares in the last quarter. Quarry LP bought a new position in shares of NeoGenomics in the third quarter worth approximately $40,000. Smartleaf Asset Management LLC lifted its position in NeoGenomics by 203.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,156 shares of the medical research company’s stock valued at $70,000 after purchasing an additional 2,787 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in NeoGenomics by 33.2% during the fourth quarter. Blue Trust Inc. now owns 4,421 shares of the medical research company’s stock valued at $73,000 after purchasing an additional 1,103 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Needham & Company LLC dropped their price objective on shares of NeoGenomics from $19.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. 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. The Goldman Sachs Group reduced their price objective on NeoGenomics from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Bank of America dropped their target price on NeoGenomics from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Finally, Piper Sandler reduced their price target on shares of NeoGenomics from $21.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, NeoGenomics has an average rating of “Moderate Buy” and an average price target of $19.60.

NeoGenomics Price Performance

Shares of NeoGenomics stock opened at $9.84 on Tuesday. The company’s fifty day simple moving average is $12.96 and its two-hundred day simple moving average is $14.74. NeoGenomics, Inc. has a 12-month low of $8.98 and a 12-month high of $19.12. The firm has a market cap of $1.26 billion, a PE ratio of -15.87 and a beta of 1.28. The company has a quick ratio of 1.91, a current ratio of 1.98 and a debt-to-equity ratio of 0.38.

NeoGenomics (NASDAQ:NEO) last announced 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). The business had revenue of $172.00 million for the quarter, compared to analysts’ expectations of $173.40 million. NeoGenomics had a negative net margin of 11.92% and a negative return on equity of 2.10%. As a group, equities analysts expect that NeoGenomics, Inc. will post -0.2 EPS for the current year.

NeoGenomics Company 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.