American Century Companies Inc. Buys 426,341 Shares of NeoGenomics, Inc. $NEO

Key Points

• American Century Companies Inc. increased its stake in NeoGenomics, Inc. by 14.7%, acquiring a total of 3,319,602 shares valued at approximately $31.5 million.
• Institutional ownership is significant, with 98.50% of NeoGenomics stock held by institutional investors and hedge funds, highlighting strong support from larger financial entities.
• Recent analyst ratings show a shift, with some firms downgrading NeoGenomics' stock from "strong-buy" to "hold," reflecting concerns about its future performance amid a target price reduction.

American Century Companies Inc. lifted its holdings in shares of NeoGenomics, Inc. (NASDAQ:NEO - Free Report) by 14.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,319,602 shares of the medical research company's stock after buying an additional 426,341 shares during the quarter. American Century Companies Inc. owned about 2.58% of NeoGenomics worth $31,503,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of NEO. Wells Fargo & Company MN grew its position in shares of NeoGenomics by 7.7% during the 4th quarter. Wells Fargo & Company MN now owns 84,391 shares of the medical research company's stock worth $1,391,000 after buying an additional 6,055 shares during the period. Raymond James Financial Inc. bought a new stake in NeoGenomics in the fourth quarter valued at approximately $839,000. Sterling Capital Management LLC increased its stake in NeoGenomics by 788.7% in the fourth quarter. Sterling Capital Management LLC now owns 3,706 shares of the medical research company's stock valued at $61,000 after purchasing an additional 3,289 shares in the last quarter. Barclays PLC boosted its holdings in shares of NeoGenomics by 3.7% in the fourth quarter. Barclays PLC now owns 239,438 shares of the medical research company's stock valued at $3,948,000 after buying an additional 8,537 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in shares of NeoGenomics by 15.9% in the fourth quarter. NewEdge Advisors LLC now owns 18,622 shares of the medical research company's stock valued at $307,000 after buying an additional 2,558 shares during the period. Institutional investors and hedge funds own 98.50% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on NEO shares. William Blair restated a "market perform" rating on shares of NeoGenomics in a report on Tuesday, July 29th. Guggenheim started coverage on shares of NeoGenomics in a research report on Thursday, May 15th. They issued a "neutral" rating on the stock. Morgan Stanley set a $8.00 price objective on shares of NeoGenomics and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. Piper Sandler set a $11.00 price target on shares of NeoGenomics and gave the stock an "overweight" rating in a research report on Monday, August 4th. Finally, Wall Street Zen upgraded shares of NeoGenomics from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Four investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $12.75.

Insider Activity

In other news, Director Michael Aaron Kelly bought 5,000 shares of NeoGenomics stock in a transaction dated Tuesday, May 27th. The stock was purchased at an average price of $7.60 per share, for a total transaction of $38,000.00. Following the purchase, the director directly owned 5,000 shares in the company, valued at $38,000. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.40% of the stock is currently owned by insiders.

NeoGenomics Stock Down 2.4%

NEO traded down $0.16 during midday trading on Monday, hitting $6.45. The company had a trading volume of 1,763,881 shares, compared to its average volume of 1,938,649. The company has a market capitalization of $833.21 million, a price-to-earnings ratio of -7.96 and a beta of 1.54. The stock's 50 day moving average price is $6.57 and its 200 day moving average price is $8.36. The company has a quick ratio of 3.58, a current ratio of 3.92 and a debt-to-equity ratio of 0.40. NeoGenomics, Inc. has a 52 week low of $4.72 and a 52 week high of $19.11.

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.