Royce & Associates LP Sells 860,000 Shares of NeoGenomics, Inc. $NEO

Key Points

• Royce & Associates sold 860,000 shares of NeoGenomics in Q3, cutting its stake by 86.6% to 132,586 shares worth about $1.024 million.
• NeoGenomics beat Q results with $0.06 EPS versus $0.04 expected and revenue of $190.17 million (up 10.6% YoY), though the company still shows negative margins and analysts expect roughly -0.2 EPS for the year.
• The stock has a market cap of about $1.16 billion, roughly 98.5% institutional ownership, and a consensus analyst rating of "Hold" with an average price target of $11.86.

Royce & Associates LP lessened its stake in NeoGenomics, Inc. (NASDAQ:NEO - Free Report) by 86.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 132,586 shares of the medical research company's stock after selling 860,000 shares during the quarter. Royce & Associates LP owned approximately 0.10% of NeoGenomics worth $1,024,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of NEO. Greenhouse Funds LLLP increased its holdings in NeoGenomics by 57.8% in the 2nd quarter. Greenhouse Funds LLLP now owns 7,431,147 shares of the medical research company's stock worth $54,322,000 after acquiring an additional 2,722,823 shares during the last quarter. First Light Asset Management LLC raised its holdings in NeoGenomics by 13.3% during the 2nd quarter. First Light Asset Management LLC now owns 6,846,432 shares of the medical research company's stock valued at $50,047,000 after acquiring an additional 803,610 shares during the period. American Century Companies Inc. lifted its position in shares of NeoGenomics by 6.0% during the second quarter. American Century Companies Inc. now owns 3,517,478 shares of the medical research company's stock worth $25,713,000 after acquiring an additional 197,876 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of NeoGenomics by 0.8% in the second quarter. Geode Capital Management LLC now owns 3,156,621 shares of the medical research company's stock worth $23,078,000 after acquiring an additional 26,224 shares during the period. Finally, Segall Bryant & Hamill LLC boosted its holdings in shares of NeoGenomics by 0.5% in the second quarter. Segall Bryant & Hamill LLC now owns 2,362,049 shares of the medical research company's stock worth $17,267,000 after acquiring an additional 11,303 shares during the period. 98.50% of the stock is owned by institutional investors.

NeoGenomics Stock Down 1.9%

Shares of NASDAQ:NEO opened at $8.96 on Friday. The stock has a market capitalization of $1.16 billion, a P/E ratio of -10.67 and a beta of 1.62. The stock's 50-day moving average price is $11.56 and its 200-day moving average price is $10.39. The company has a current ratio of 4.26, a quick ratio of 3.94 and a debt-to-equity ratio of 0.41. NeoGenomics, Inc. has a 12-month low of $4.72 and a 12-month high of $13.74.

NeoGenomics (NASDAQ:NEO - Get Free Report) last released its earnings results on Tuesday, February 17th. The medical research company reported $0.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.04 by $0.02. NeoGenomics had a negative return on equity of 3.10% and a negative net margin of 14.85%.The company had revenue of $190.17 million during the quarter, compared to analyst estimates of $188.25 million. During the same quarter in the previous year, the company posted $0.04 EPS. NeoGenomics's revenue for the quarter was up 10.6% on a year-over-year basis. On average, equities analysts anticipate that NeoGenomics, Inc. will post -0.2 earnings per share for the current year.

Insider Buying and Selling at NeoGenomics

In other news, COO Warren Stone sold 22,128 shares of the stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $12.50, for a total transaction of $276,600.00. Following the completion of the sale, the chief operating officer directly owned 121,631 shares in the company, valued at approximately $1,520,387.50. This represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.40% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on NEO shares. UBS Group reiterated a "hold" rating on shares of NeoGenomics in a research note on Wednesday, February 18th. Benchmark reaffirmed a "hold" rating on shares of NeoGenomics in a report on Wednesday, February 18th. TD Cowen reiterated a "buy" rating on shares of NeoGenomics in a research note on Wednesday, January 7th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NeoGenomics in a research note on Monday, December 29th. Finally, Needham & Company LLC lifted their target price on shares of NeoGenomics from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Tuesday, February 17th. Five investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $11.86.

NeoGenomics Company Profile

NeoGenomics, traded on the Nasdaq under the symbol NEO, is a leading provider of cancer-focused genetic and molecular testing services. Headquartered in Fort Myers, Florida, the company operates an integrated network of CAP-accredited and CLIA-certified laboratories across the United States, Europe and Asia. NeoGenomics delivers diagnostic insights that support oncologists, pathologists and healthcare institutions in the detection, prognosis and treatment of hematologic and solid tumor cancers.

The company's core service offerings include flow cytometry, immunohistochemistry, fluorescence in situ hybridization (FISH), karyotyping and advanced molecular assays such as next-generation sequencing (NGS) panels and polymerase chain reaction (PCR) tests.

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