Royce & Associates LP Acquires 182,180 Shares of NeoGenomics, Inc. (NASDAQ:NEO)

Key Points

• Royce & Associates LP increased its shareholding in NeoGenomics, Inc. by 27.0%, bringing their total to 858,046 shares valued at approximately $8,143,000 as of the end of the last quarter.
• Wall Street analyst ratings for NeoGenomics have been mixed, with seven analysts giving the stock a "hold" rating and five a "buy" rating, while the consensus target price is set at $13.83.
• CEO Anthony P. Zook and Director David Brian Perez both made recent stock purchases, indicating insider confidence, with Zook acquiring 18,900 shares and Perez buying 10,000 shares at average costs of $7.88 and $7.63, respectively.

Royce & Associates LP grew its stake in NeoGenomics, Inc. (NASDAQ:NEO - Free Report) by 27.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 858,046 shares of the medical research company's stock after purchasing an additional 182,180 shares during the period. Royce & Associates LP owned about 0.67% of NeoGenomics worth $8,143,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in NeoGenomics during the 4th quarter worth approximately $6,273,000. Greenhouse Funds LLLP boosted its position in NeoGenomics by 5.3% during the 4th quarter. Greenhouse Funds LLLP now owns 4,701,897 shares of the medical research company's stock worth $77,487,000 after buying an additional 237,491 shares during the period. Segall Bryant & Hamill LLC raised its holdings in NeoGenomics by 11.2% during the 1st quarter. Segall Bryant & Hamill LLC now owns 2,350,746 shares of the medical research company's stock worth $22,309,000 after purchasing an additional 236,924 shares during the last quarter. Vanguard Group Inc. raised its holdings in NeoGenomics by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 14,239,887 shares of the medical research company's stock worth $234,673,000 after purchasing an additional 195,793 shares during the last quarter. Finally, F M Investments LLC bought a new position in NeoGenomics during the 4th quarter worth approximately $2,085,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Jeffrey Scott Sherman purchased 20,000 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were bought at an average price of $7.51 per share, for a total transaction of $150,200.00. Following the acquisition, the chief financial officer owned 158,494 shares of the company's stock, valued at approximately $1,190,289.94. This represents a 14.44% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 bought at an average price of $8.58 per share, for a total transaction of $48,906.00. Following the acquisition, the chief operating officer directly owned 108,280 shares in the company, valued at $929,042.40. This trade represents a 5.56% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 70,600 shares of company stock worth $550,438 over the last ninety days. 2.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NEO. Morgan Stanley decreased their price target on shares of NeoGenomics from $17.00 to $10.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Leerink Partnrs downgraded shares of NeoGenomics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. Wall Street Zen raised shares of NeoGenomics from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Guggenheim initiated coverage on shares of NeoGenomics in a report on Thursday, May 15th. They issued a "neutral" rating on the stock. Finally, Leerink Partners cut shares of NeoGenomics from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $25.00 to $9.00 in a research report on Wednesday, April 30th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, NeoGenomics presently has a consensus rating of "Hold" and an average target price of $13.83.

NeoGenomics Stock Performance

NASDAQ:NEO traded up $0.17 during mid-day trading on Monday, reaching $6.46. The company's stock had a trading volume of 2,877,752 shares, compared to its average volume of 1,796,439. NeoGenomics, Inc. has a 12-month low of $6.08 and a 12-month high of $19.11. The firm's fifty day moving average price is $7.22 and its two-hundred day moving average price is $9.54. The company has a current ratio of 2.05, a quick ratio of 1.95 and a debt-to-equity ratio of 0.38. The stock has a market cap of $831.40 million, a P/E ratio of -10.59 and a beta of 1.63.

NeoGenomics (NASDAQ:NEO - Get Free Report) last released 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). The firm had revenue of $168.04 million for the quarter, compared to the consensus estimate of $171.38 million. NeoGenomics had a negative net margin of 11.54% and a negative return on equity of 2.21%. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. On average, equities analysts forecast that NeoGenomics, Inc. will post -0.2 EPS for the current fiscal year.

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.