Blair William & Co. IL Sells 28,435 Shares of NeoGenomics, Inc. $NEO

Key Points

• Blair William & Co. IL reduced its holdings in NeoGenomics, Inc. by 43.3%, selling 28,435 shares in the second quarter, leaving them with 37,203 shares valued at approximately $272,000.
• Several hedge funds have significantly increased their stakes in NeoGenomics, with First Light Asset Management acquiring over 2.8 million shares, boosting its stake by 90.8%.
• Analysts have varying price targets for NeoGenomics, with Needham & Company raising their target from $8.00 to $14.00, while the consensus rating remains a "Hold" with a price target of around $12.56.

Blair William & Co. IL cut its stake in shares of NeoGenomics, Inc. (NASDAQ:NEO - Free Report) by 43.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,203 shares of the medical research company's stock after selling 28,435 shares during the quarter. Blair William & Co. IL's holdings in NeoGenomics were worth $272,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NEO. First Light Asset Management LLC grew its stake in shares of NeoGenomics by 90.8% during the 1st quarter. First Light Asset Management LLC now owns 6,042,822 shares of the medical research company's stock valued at $57,346,000 after acquiring an additional 2,875,237 shares during the period. Samjo Management LLC purchased a new position in NeoGenomics in the 1st quarter worth approximately $5,970,000. American Century Companies Inc. lifted its holdings in NeoGenomics by 14.7% in the 1st quarter. American Century Companies Inc. now owns 3,319,602 shares of the medical research company's stock worth $31,503,000 after purchasing an additional 426,341 shares in the last quarter. Aberdeen Group plc purchased a new position in NeoGenomics in the 1st quarter worth approximately $3,920,000. Finally, Nuveen LLC purchased a new position in NeoGenomics in the 1st quarter worth approximately $3,281,000. 98.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NEO. Piper Sandler set a $11.00 price target on NeoGenomics and gave the stock an "overweight" rating in a report on Monday, August 4th. Morgan Stanley set a $8.00 price target on NeoGenomics and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Needham & Company LLC boosted their price target on NeoGenomics from $8.00 to $14.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Stephens boosted their price target on NeoGenomics from $6.50 to $11.00 and gave the stock an "overweight" rating in a report on Tuesday, September 2nd. Finally, Cowen reissued a "buy" rating on shares of NeoGenomics in a report on Friday, September 12th. Seven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $12.56.

NeoGenomics Stock Performance

NASDAQ:NEO opened at $10.05 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.92 and a quick ratio of 3.58. NeoGenomics, Inc. has a 1 year low of $4.72 and a 1 year high of $19.11. The stock's 50 day simple moving average is $7.96 and its two-hundred day simple moving average is $7.70. The company has a market cap of $1.30 billion, a price-to-earnings ratio of -12.41 and a beta of 1.61.

About NeoGenomics

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.

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