Intech Investment Management LLC Sells 65,754 Shares of NeoGenomics, Inc. $NEO

Intech Investment Management LLC decreased its holdings in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 47.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 73,469 shares of the medical research company’s stock after selling 65,754 shares during the period. Intech Investment Management LLC owned approximately 0.06% of NeoGenomics worth $567,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Fox Run Management L.L.C. acquired a new stake in shares of NeoGenomics in the 3rd quarter worth about $134,000. White Pine Capital LLC increased its holdings in NeoGenomics by 394.3% during the 3rd quarter. White Pine Capital LLC now owns 138,822 shares of the medical research company’s stock worth $1,072,000 after purchasing an additional 110,735 shares in the last quarter. Guidance Capital Inc. increased its holdings in NeoGenomics by 11.2% during the 3rd quarter. Guidance Capital Inc. now owns 57,739 shares of the medical research company’s stock worth $446,000 after purchasing an additional 5,797 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of NeoGenomics by 16.5% in the third quarter. PNC Financial Services Group Inc. now owns 18,095 shares of the medical research company’s stock worth $140,000 after purchasing an additional 2,565 shares during the last quarter. Finally, Aberdeen Group plc lifted its holdings in shares of NeoGenomics by 91.8% in the third quarter. Aberdeen Group plc now owns 792,263 shares of the medical research company’s stock valued at $6,116,000 after purchasing an additional 379,165 shares in the last quarter. 98.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on NEO. Zacks Research cut NeoGenomics from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Needham & Company LLC raised their price objective on NeoGenomics from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Piper Sandler lifted their price objective on shares of NeoGenomics from $12.00 to $13.00 and gave the stock an “overweight” rating in a report on Tuesday, February 24th. UBS Group reiterated a “hold” rating on shares of NeoGenomics in a research note on Wednesday, February 18th. Finally, Benchmark reiterated a “hold” rating on shares of NeoGenomics in a report on Wednesday, February 18th. Five analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $11.86.

NeoGenomics Stock Performance

Shares of NEO opened at $8.55 on Thursday. The stock has a 50 day moving average of $11.36 and a 200 day moving average of $10.47. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -10.18 and a beta of 1.62. NeoGenomics, Inc. has a 12 month low of $4.72 and a 12 month high of $13.74. The company has a current ratio of 4.26, a quick ratio of 3.94 and a debt-to-equity ratio of 0.41.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data on Tuesday, February 17th. The medical research company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.02. The business had revenue of $190.17 million for the quarter, compared to analysts’ expectations of $188.25 million. NeoGenomics had a negative return on equity of 3.10% and a negative net margin of 14.85%.The business’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.04 earnings per share. As a group, sell-side analysts forecast that NeoGenomics, Inc. will post -0.2 earnings per share for the current year.

Insider Activity at NeoGenomics

In related news, COO Warren Stone sold 22,128 shares of the business’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $12.50, for a total value of $276,600.00. Following the transaction, the chief operating officer directly owned 121,631 shares of the company’s stock, valued at approximately $1,520,387.50. The trade was a 15.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.40% of the stock is owned by insiders.

NeoGenomics Profile

NeoGenomics, traded on the Nasdaq under the symbol NEO, is a leading provider of cancer-focused genetic and molecular testing services. Headquartered in Fort Myers, Florida, the company operates an integrated network of CAP-accredited and CLIA-certified laboratories across the United States, Europe and Asia. NeoGenomics delivers diagnostic insights that support oncologists, pathologists and healthcare institutions in the detection, prognosis and treatment of hematologic and solid tumor cancers.

The company’s core service offerings include flow cytometry, immunohistochemistry, fluorescence in situ hybridization (FISH), karyotyping and advanced molecular assays such as next-generation sequencing (NGS) panels and polymerase chain reaction (PCR) tests.