Perkins Capital Management Inc. Decreases Stock Holdings in NeoGenomics, Inc. (NASDAQ:NEO)

Perkins Capital Management Inc. lessened its holdings in NeoGenomics, Inc. (NASDAQ:NEO) by 3.5% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 180,800 shares of the medical research company’s stock after selling 6,500 shares during the period. NeoGenomics accounts for approximately 2.5% of Perkins Capital Management Inc.’s portfolio, making the stock its 10th largest holding. Perkins Capital Management Inc. owned approximately 0.14% of NeoGenomics worth $2,667,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Blue Trust Inc. grew its stake in NeoGenomics by 107.2% in the 2nd quarter. Blue Trust Inc. now owns 2,331 shares of the medical research company’s stock worth $32,000 after buying an additional 1,206 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of NeoGenomics during the 2nd quarter worth $57,000. Banque Cantonale Vaudoise lifted its holdings in shares of NeoGenomics by 10.2% during the 2nd quarter. Banque Cantonale Vaudoise now owns 17,575 shares of the medical research company’s stock worth $244,000 after acquiring an additional 1,633 shares during the last quarter. Gabelli Funds LLC purchased a new position in NeoGenomics in the first quarter worth $283,000. Finally, Texas Capital Bank Wealth Management Services Inc bought a new position in NeoGenomics in the first quarter valued at $314,000. Institutional investors own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NEO. Stephens reiterated an “overweight” rating and issued a $19.00 price objective on shares of NeoGenomics in a report on Tuesday, July 30th. Benchmark reaffirmed a “buy” rating and issued a $18.00 target price on shares of NeoGenomics in a research note on Tuesday, September 24th. Finally, Needham & Company LLC reissued a “buy” rating and set a $19.00 price target on shares of NeoGenomics in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.89.

NeoGenomics Stock Performance

NASDAQ:NEO opened at $15.46 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.93 and a current ratio of 2.01. NeoGenomics, Inc. has a fifty-two week low of $12.77 and a fifty-two week high of $21.22. The firm has a market cap of $1.98 billion, a PE ratio of -24.94 and a beta of 1.19. The business has a 50 day moving average price of $14.71 and a 200-day moving average price of $14.73.

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.