Northern Trust Corp Cuts Stock Position in NeoGenomics, Inc. $NEO

Key Points

• Northern Trust Corp sold 46,941 shares of NeoGenomics, reducing its stake by 2.9%, and now holds approximately 1,574,868 shares valued at $14,945,000.
• Institutional investors and hedge funds collectively own 98.50% of NeoGenomics, indicating significant institutional support for the company.
• Research analysts have recently upgraded NeoGenomics, with ratings ranging from "hold" to "overweight," and an average target price of $13.22 reflecting positive market sentiment.

Northern Trust Corp cut its holdings in NeoGenomics, Inc. (NASDAQ:NEO - Free Report) by 2.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,574,868 shares of the medical research company's stock after selling 46,941 shares during the quarter. Northern Trust Corp owned 1.22% of NeoGenomics worth $14,945,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of NEO. American Century Companies Inc. lifted its holdings in shares of NeoGenomics by 14.7% during the 1st quarter. American Century Companies Inc. now owns 3,319,602 shares of the medical research company's stock valued at $31,503,000 after buying an additional 426,341 shares during the period. Aberdeen Group plc bought a new position in shares of NeoGenomics during the 1st quarter valued at $3,920,000. Nuveen LLC bought a new position in shares of NeoGenomics during the 1st quarter valued at $3,281,000. Segall Bryant & Hamill LLC lifted its holdings in shares of 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 valued at $22,309,000 after buying an additional 236,924 shares during the period. Finally, Royce & Associates LP lifted its holdings in shares of NeoGenomics by 27.0% during the 1st quarter. Royce & Associates LP now owns 858,046 shares of the medical research company's stock valued at $8,143,000 after buying an additional 182,180 shares during the period. 98.50% of the stock is owned by institutional investors.

NeoGenomics Price Performance

NEO stock traded down $0.04 during trading on Tuesday, reaching $7.90. The company's stock had a trading volume of 356,532 shares, compared to its average volume of 2,033,751. NeoGenomics, Inc. has a 1 year low of $4.72 and a 1 year 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. The company has a market capitalization of $1.02 billion, a P/E ratio of -9.74 and a beta of 1.62. The company's fifty day moving average is $6.72 and its 200-day moving average is $7.95.

Analyst Ratings Changes

Several research firms have recently weighed in on NEO. Morgan Stanley set a $8.00 price target on NeoGenomics and gave the company an "equal weight" rating in a report on Wednesday, July 30th. BTIG Research restated a "neutral" rating on shares of NeoGenomics in a research note on Wednesday, July 30th. Needham & Company LLC upped their price objective on NeoGenomics from $8.00 to $14.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Guggenheim initiated coverage on NeoGenomics in a research note on Thursday, May 15th. They issued a "neutral" rating for the company. Finally, Stephens upped their price objective on NeoGenomics from $6.50 to $11.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. Five research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, NeoGenomics has a consensus rating of "Hold" and an average price target of $13.22.

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.