NeoGenomics, Inc. (NASDAQ:NEO) Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc significantly reduced its stake in NeoGenomics, decreasing its holdings by 57.5% in the first quarter, leaving it with approximately 0.07% of the company's stock.
• Several institutional investors, including Greenhouse Funds LLLP and Dimensional Fund Advisors LP, increased their positions in NeoGenomics during the fourth quarter, highlighting continued interest from larger investment firms.
• Analysts have downgraded NeoGenomics, with Leerink Partners lowering its price target from $25.00 to $9.00, while BTIG Research and others have shifted ratings to "neutral" or "hold."

TD Asset Management Inc lowered its position in shares of NeoGenomics, Inc. (NASDAQ:NEO - Free Report) by 57.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 89,910 shares of the medical research company's stock after selling 121,522 shares during the period. TD Asset Management Inc owned approximately 0.07% of NeoGenomics worth $853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Greenhouse Funds LLLP increased its holdings in shares of 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 last quarter. Dimensional Fund Advisors LP increased its holdings in NeoGenomics by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,436,858 shares of the medical research company's stock valued at $56,645,000 after purchasing an additional 78,211 shares during the last quarter. First Light Asset Management LLC increased its holdings in NeoGenomics by 3.0% in the 4th quarter. First Light Asset Management LLC now owns 3,167,585 shares of the medical research company's stock valued at $52,202,000 after purchasing an additional 91,030 shares during the last quarter. Segall Bryant & Hamill LLC increased its holdings in NeoGenomics by 11.2% in the 1st quarter. Segall Bryant & Hamill LLC now owns 2,350,746 shares of the medical research company's stock valued at $22,309,000 after purchasing an additional 236,924 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in NeoGenomics by 7.4% in the 4th quarter. Northern Trust Corp now owns 1,621,809 shares of the medical research company's stock valued at $26,727,000 after purchasing an additional 111,170 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company's stock.

Insider Activity

In other news, Director Michael Aaron Kelly acquired 5,000 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was acquired at an average cost of $7.60 per share, with a total value of $38,000.00. Following the transaction, the director owned 5,000 shares in the company, valued at approximately $38,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Lynn A. Tetrault acquired 7,000 shares of the firm's stock in a transaction dated Friday, May 9th. The shares were purchased at an average cost of $8.14 per share, with a total value of $56,980.00. Following the completion of the transaction, the director owned 7,000 shares in the company, valued at approximately $56,980. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 21,700 shares of company stock valued at $175,006 in the last 90 days. Company insiders own 2.40% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on NEO. Leerink Partners downgraded shares of NeoGenomics from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $25.00 to $9.00 in a report on Wednesday, April 30th. BTIG Research downgraded shares of NeoGenomics from a "buy" rating to a "neutral" rating in a report on Wednesday, July 30th. Needham & Company LLC dropped their target price on shares of NeoGenomics from $8.50 to $8.00 and set a "buy" rating for the company in a report on Tuesday, July 29th. Guggenheim began coverage on shares of NeoGenomics in a report on Thursday, May 15th. They issued a "neutral" rating for the company. Finally, William Blair reiterated a "market perform" rating on shares of NeoGenomics in a report on Tuesday, July 29th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $12.75.

NeoGenomics Stock Performance

Shares of NEO stock opened at $5.67 on Tuesday. The stock has a market capitalization of $732.45 million, a PE ratio of -7.00 and a beta of 1.54. The firm has a 50 day moving average of $6.99 and a two-hundred day moving average of $9.24. NeoGenomics, Inc. has a 52 week low of $4.72 and a 52 week high of $19.11. The company has a quick ratio of 3.58, a current ratio of 3.92 and a debt-to-equity ratio of 0.40.

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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