Northern Trust Corp Sells 46,941 Shares of 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 lessened its holdings in shares of NeoGenomics, Inc. (NASDAQ:NEO - Free Report) by 2.9% in the first 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 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in shares of NeoGenomics during the first quarter valued at about $35,000. American Century Companies Inc. lifted its position in NeoGenomics by 14.7% in 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 acquiring an additional 426,341 shares in the last quarter. Aberdeen Group plc bought a new position in NeoGenomics in the 1st quarter valued at about $3,920,000. Public Sector Pension Investment Board boosted its stake in NeoGenomics by 27.3% during the 1st quarter. Public Sector Pension Investment Board now owns 407,017 shares of the medical research company's stock valued at $3,863,000 after purchasing an additional 87,238 shares during the last quarter. Finally, Nuveen LLC bought a new stake in NeoGenomics during the 1st quarter worth approximately $3,281,000. Institutional investors and hedge funds own 98.50% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wall Street Zen upgraded NeoGenomics from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Stephens increased their price target on NeoGenomics from $6.50 to $11.00 and gave the company an "overweight" rating in a research report on Tuesday. Guggenheim assumed coverage on NeoGenomics in a research note on Thursday, May 15th. They set a "neutral" rating on the stock. Morgan Stanley set a $8.00 target price on shares of NeoGenomics and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Finally, BTIG Research reissued a "neutral" rating on shares of NeoGenomics in a research report on Wednesday, July 30th. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, NeoGenomics currently has an average rating of "Hold" and a consensus target price of $13.22.

NeoGenomics Price Performance

Shares of NASDAQ:NEO opened at $8.19 on Thursday. The company has a market capitalization of $1.06 billion, a P/E ratio of -10.11 and a beta of 1.62. The company's 50-day moving average is $6.68 and its 200 day moving average is $8.10. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.58 and a current ratio of 3.92. NeoGenomics, Inc. has a fifty-two week low of $4.72 and a fifty-two 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.

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