BNP Paribas Financial Markets Reduces Stock Position in NeoGenomics, Inc. (NASDAQ:NEO)

BNP Paribas Financial Markets cut its position in NeoGenomics, Inc. (NASDAQ:NEO - Free Report) by 49.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,984 shares of the medical research company's stock after selling 35,979 shares during the quarter. BNP Paribas Financial Markets' holdings in NeoGenomics were worth $609,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Loomis Sayles & Co. L P lifted its holdings in shares of NeoGenomics by 48.4% during the fourth quarter. Loomis Sayles & Co. L P now owns 1,791,792 shares of the medical research company's stock worth $29,528,000 after buying an additional 584,502 shares in the last quarter. Norges Bank acquired a new position in NeoGenomics in the fourth quarter valued at about $6,273,000. Jennison Associates LLC raised its stake in NeoGenomics by 18.7% in the fourth quarter. Jennison Associates LLC now owns 1,514,756 shares of the medical research company's stock valued at $24,963,000 after purchasing an additional 238,288 shares in the last quarter. Greenhouse Funds LLLP raised its stake in NeoGenomics by 5.3% in the fourth quarter. Greenhouse Funds LLLP now owns 4,701,897 shares of the medical research company's stock valued at $77,487,000 after purchasing an additional 237,491 shares in the last quarter. Finally, Segall Bryant & Hamill LLC raised its stake in NeoGenomics by 11.6% in the fourth quarter. Segall Bryant & Hamill LLC now owns 2,113,822 shares of the medical research company's stock valued at $34,836,000 after purchasing an additional 220,415 shares in the last quarter. 98.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on NEO shares. Needham & Company LLC cut their target price on shares of NeoGenomics from $18.00 to $8.50 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Wall Street Zen upgraded shares of NeoGenomics from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. The Goldman Sachs Group dropped their price objective on shares of NeoGenomics from $15.00 to $10.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Guggenheim started coverage on shares of NeoGenomics in a report on Thursday, May 15th. They issued a "neutral" rating for the company. Finally, Morgan Stanley dropped their price objective on shares of NeoGenomics from $17.00 to $10.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, NeoGenomics presently has an average rating of "Hold" and a consensus price target of $13.83.

NeoGenomics Price Performance

NEO traded down $0.09 during midday trading on Wednesday, hitting $7.41. The stock had a trading volume of 552,990 shares, compared to its average volume of 1,148,353. The company has a market cap of $953.50 million, a P/E ratio of -12.02 and a beta of 1.60. The business has a fifty day moving average of $8.70 and a 200 day moving average of $12.55. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.91 and a current ratio of 1.98. NeoGenomics, Inc. has a 1 year low of $6.08 and a 1 year high of $19.12.

NeoGenomics (NASDAQ:NEO - Get Free Report) last issued its earnings results on Tuesday, April 29th. The medical research company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.06). NeoGenomics had a negative return on equity of 2.10% and a negative net margin of 11.92%. The firm had revenue of $168.04 million during the quarter, compared to analysts' expectations of $171.38 million. During the same period in the prior year, the company earned ($0.02) EPS. The firm's quarterly revenue was up 7.6% compared to the same quarter last year. As a group, equities analysts forecast that NeoGenomics, Inc. will post -0.2 earnings per share for the current fiscal year.

Insider Buying and Selling at NeoGenomics

In other NeoGenomics news, Director David Brian Perez purchased 10,000 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The stock was purchased at an average cost of $7.63 per share, with a total value of $76,300.00. Following the purchase, the director now owns 10,000 shares of the company's stock, valued at approximately $76,300. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Warren Stone purchased 5,700 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average cost of $8.58 per share, with a total value of $48,906.00. Following the completion of the purchase, the chief operating officer now directly owns 108,280 shares in the company, valued at $929,042.40. The trade was a 5.56% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 65,600 shares of company stock valued at $512,438. 2.40% of the stock is owned by company insiders.

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.