GW&K Investment Management LLC Cuts Stock Position in NeoGenomics, Inc. $NEO

Key Points

• GW&K Investment Management cut its stake in NeoGenomics by 15.8% in Q3, selling 392,091 shares and now holds 2,082,885 shares (about 1.61% of the company) valued at roughly $16.08 million.
• COO Warren Stone sold 22,128 shares at an average price of $12.50 (a 15.39% reduction in his position); insiders own about 2.4% of the stock while institutional investors hold roughly 98.5%.
• NeoGenomics beat the latest quarter estimates with $0.06 EPS vs $0.04 and revenue of $190.17M vs $188.25M, but remains unprofitable overall; analysts’ ratings are mixed with an average price target of about $11.86 while the stock trades near $8.96.

GW&K Investment Management LLC reduced its position in NeoGenomics, Inc. (NASDAQ:NEO - Free Report) by 15.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,082,885 shares of the medical research company's stock after selling 392,091 shares during the quarter. GW&K Investment Management LLC owned about 1.61% of NeoGenomics worth $16,080,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Royal Bank of Canada raised its stake in NeoGenomics by 51.2% in the 1st quarter. Royal Bank of Canada now owns 56,026 shares of the medical research company's stock worth $532,000 after acquiring an additional 18,966 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of NeoGenomics in the first quarter worth $271,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of NeoGenomics by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 75,798 shares of the medical research company's stock worth $719,000 after purchasing an additional 3,254 shares during the last quarter. Intech Investment Management LLC raised its holdings in shares of NeoGenomics by 19.7% during the first quarter. Intech Investment Management LLC now owns 151,806 shares of the medical research company's stock worth $1,441,000 after purchasing an additional 24,965 shares during the last quarter. Finally, Atria Investments Inc lifted its position in NeoGenomics by 42.8% during the second quarter. Atria Investments Inc now owns 14,710 shares of the medical research company's stock valued at $108,000 after purchasing an additional 4,407 shares during the period. Hedge funds and other institutional investors own 98.50% of the company's stock.

Insider Transactions at NeoGenomics

In other NeoGenomics news, COO Warren Stone sold 22,128 shares of NeoGenomics stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $12.50, for a total value of $276,600.00. Following the completion of the transaction, the chief operating officer directly owned 121,631 shares of the company's stock, valued at $1,520,387.50. The trade was a 15.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.40% of the stock is currently owned by insiders.

NeoGenomics Price Performance

NEO stock opened at $8.96 on Friday. NeoGenomics, Inc. has a 52-week low of $4.72 and a 52-week high of $13.74. The company has a quick ratio of 3.94, a current ratio of 4.26 and a debt-to-equity ratio of 0.41. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -10.67 and a beta of 1.62. The business has a fifty day moving average of $11.56 and a two-hundred day moving average of $10.39.

NeoGenomics (NASDAQ:NEO - Get Free Report) last announced its quarterly earnings results on Tuesday, February 17th. The medical research company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.04 by $0.02. The business had revenue of $190.17 million for the quarter, compared to analyst estimates of $188.25 million. NeoGenomics had a negative return on equity of 3.10% and a negative net margin of 14.85%.The company's quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.04 EPS. As a group, research analysts anticipate that NeoGenomics, Inc. will post -0.2 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on NEO shares. Needham & Company LLC lifted their price target on NeoGenomics from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Tuesday, February 17th. Zacks Research lowered shares of NeoGenomics from a "strong-buy" rating to a "hold" rating in a report on Friday, February 20th. Benchmark reissued a "hold" rating on shares of NeoGenomics in a report on Wednesday, February 18th. TD Cowen reaffirmed a "buy" rating on shares of NeoGenomics in a report on Wednesday, January 7th. Finally, UBS Group reissued a "hold" rating on shares of NeoGenomics in a report on Wednesday, February 18th. Five research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $11.86.

NeoGenomics Company 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.

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