Aberdeen Group plc Buys New Stake in NeoGenomics, Inc. $NEO

Key Points

• Aberdeen Group plc acquired 413,098 shares of NeoGenomics, Inc., valued at approximately $3.92 million, indicating enhanced institutional interest in the company.
• Other institutional investors, including CWM LLC and Sterling Capital Management LLC, have also significantly increased their stakes in NeoGenomics during recent quarters.
• NeoGenomics stock has experienced a 12-month low of $4.72 and a high of $19.11, with a current trading price of $6.10.

Aberdeen Group plc bought a new stake in NeoGenomics, Inc. (NASDAQ:NEO - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 413,098 shares of the medical research company's stock, valued at approximately $3,920,000. Aberdeen Group plc owned approximately 0.32% of NeoGenomics as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Public Sector Pension Investment Board grew its stake in shares of NeoGenomics by 27.3% in the first quarter. Public Sector Pension Investment Board now owns 407,017 shares of the medical research company's stock valued at $3,863,000 after buying an additional 87,238 shares in the last quarter. Nuveen LLC acquired a new stake in shares of NeoGenomics in the first quarter valued at about $3,281,000. Invesco Ltd. grew its stake in shares of NeoGenomics by 5.4% in the first quarter. Invesco Ltd. now owns 433,163 shares of the medical research company's stock valued at $4,111,000 after buying an additional 22,196 shares in the last quarter. Moors & Cabot Inc. acquired a new stake in shares of NeoGenomics in the first quarter valued at about $95,000. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of NeoGenomics in the first quarter valued at about $192,000. Institutional investors and hedge funds own 98.50% of the company's stock.

Analyst Ratings Changes

NEO has been the subject of a number of analyst reports. Morgan Stanley set a $8.00 price target on NeoGenomics and gave the company an "equal weight" rating in a report on Wednesday, July 30th. The Goldman Sachs Group reduced their price target on NeoGenomics from $15.00 to $10.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Piper Sandler set a $11.00 price target on NeoGenomics and gave the company an "overweight" rating in a report on Monday, August 4th. Leerink Partnrs downgraded NeoGenomics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. Finally, William Blair reissued a "market perform" rating on shares of NeoGenomics in a report on Tuesday, July 29th. Four equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $12.75.

NeoGenomics Stock Performance

NASDAQ:NEO traded up $0.25 during trading hours on Tuesday, reaching $6.70. 1,925,326 shares of the stock were exchanged, compared to its average volume of 2,941,157. The company has a quick ratio of 3.58, a current ratio of 3.92 and a debt-to-equity ratio of 0.40. The firm has a 50 day simple moving average of $6.54 and a 200-day simple moving average of $8.30. NeoGenomics, Inc. has a 52 week low of $4.72 and a 52 week high of $19.11. The stock has a market capitalization of $865.51 million, a P/E ratio of -8.27 and a beta of 1.54.

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.