Bank of New York Mellon Corp Cuts Stock Position in NeoGenomics, Inc. (NASDAQ:NEO)

Bank of New York Mellon Corp trimmed its holdings in shares of NeoGenomics, Inc. (NASDAQ:NEO - Free Report) by 6.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 797,364 shares of the medical research company's stock after selling 52,388 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.62% of NeoGenomics worth $7,567,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of NEO. Sterling Capital Management LLC boosted its position in NeoGenomics by 788.7% during the fourth quarter. Sterling Capital Management LLC now owns 3,706 shares of the medical research company's stock valued at $61,000 after purchasing an additional 3,289 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in NeoGenomics during the first quarter valued at about $178,000. Sherbrooke Park Advisers LLC bought a new stake in NeoGenomics during the fourth quarter valued at about $183,000. Cibc World Markets Corp bought a new stake in NeoGenomics during the fourth quarter valued at about $197,000. Finally, Summit Investment Advisors Inc. boosted its position in NeoGenomics by 6.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 13,339 shares of the medical research company's stock valued at $220,000 after purchasing an additional 863 shares in the last quarter. Institutional investors own 98.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Leerink Partnrs downgraded NeoGenomics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. Guggenheim assumed coverage on NeoGenomics in a report on Thursday, May 15th. They issued a "neutral" rating for the company. Piper Sandler set a $12.00 price target on NeoGenomics and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Wall Street Zen raised NeoGenomics from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, Needham & Company LLC lowered their price target on NeoGenomics from $18.00 to $8.50 and set a "buy" rating for the company in a report on Tuesday, April 29th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $13.83.

Insider Buying and Selling

In other NeoGenomics news, COO Warren Stone acquired 5,700 shares of the business's stock in a transaction dated Monday, May 12th. The stock was acquired at an average cost of $8.58 per share, for a total transaction of $48,906.00. Following the completion of the transaction, the chief operating officer directly owned 108,280 shares of the company's stock, valued at $929,042.40. This represents a 5.56% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeffrey Scott Sherman acquired 20,000 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was acquired at an average price of $7.51 per share, with a total value of $150,200.00. Following the completion of the transaction, the chief financial officer directly owned 158,494 shares of the company's stock, valued at approximately $1,190,289.94. This represents a 14.44% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 70,600 shares of company stock valued at $550,438 in the last three months. 2.40% of the stock is currently owned by company insiders.

NeoGenomics Stock Performance

NASDAQ:NEO traded down $0.08 during trading hours on Friday, reaching $6.35. The company had a trading volume of 602,293 shares, compared to its average volume of 1,782,589. NeoGenomics, Inc. has a 1-year low of $6.08 and a 1-year high of $19.11. The firm has a market cap of $816.60 million, a PE ratio of -10.40 and a beta of 1.63. The business's 50 day moving average price is $7.25 and its 200-day moving average price is $9.75. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.05 and a quick ratio of 1.95.

NeoGenomics (NASDAQ:NEO - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The medical research company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.06). NeoGenomics had a negative net margin of 11.54% and a negative return on equity of 2.21%. The company had revenue of $168.04 million during the quarter, compared to analyst estimates of $171.38 million. During the same period in the previous year, the firm posted ($0.02) earnings per share. The company's revenue was up 7.6% compared to the same quarter last year. Research analysts forecast 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.