Segall Bryant & Hamill LLC Lowers Holdings in NeoGenomics, Inc. $NEO

Key Points

• Segall Bryant & Hamill cut its NeoGenomics stake by 34.6% in the first quarter, selling 599,003 shares and retaining 1.13 million shares worth approximately $8.4 million. Institutional investors collectively own 98.5% of the company.
• NeoGenomics reported quarterly revenue of $201.7 million, up 11.2% year over year, and EPS of $0.05, exceeding analysts’ $0.03 estimate. The stock opened at $15.29 and trades near its 12-month high of $16.17.
• Analyst sentiment remains positive, with seven Buy ratings, three Holds and one Sell; the consensus rating is “Moderate Buy” with a $16.71 target price. Recent targets range from $16 to $25.

Segall Bryant & Hamill LLC reduced its stake in shares of NeoGenomics, Inc. (NASDAQ:NEO - Free Report) by 34.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,133,026 shares of the medical research company's stock after selling 599,003 shares during the period. Segall Bryant & Hamill LLC owned approximately 0.87% of NeoGenomics worth $8,407,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NEO. First Horizon Corp boosted its stake in shares of NeoGenomics by 52.6% in the fourth quarter. First Horizon Corp now owns 2,509 shares of the medical research company's stock worth $30,000 after buying an additional 865 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in NeoGenomics by 110.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,968 shares of the medical research company's stock valued at $35,000 after acquiring an additional 1,556 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in NeoGenomics in the fourth quarter valued at approximately $39,000. Smartleaf Asset Management LLC boosted its position in NeoGenomics by 77.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,466 shares of the medical research company's stock worth $42,000 after purchasing an additional 1,515 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in NeoGenomics in the 2nd quarter worth approximately $32,000. Hedge funds and other institutional investors own 98.50% of the company's stock.

NeoGenomics Price Performance

NeoGenomics stock opened at $15.29 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.60 and a quick ratio of 3.35. The stock has a market capitalization of $1.96 billion, a PE ratio of -38.22 and a beta of 1.74. The business has a 50 day simple moving average of $12.77 and a 200-day simple moving average of $10.71. NeoGenomics, Inc. has a 12 month low of $4.72 and a 12 month high of $16.17.

NeoGenomics (NASDAQ:NEO - Get Free Report) last announced its earnings results on Tuesday, July 28th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.02. NeoGenomics had a negative return on equity of 1.99% and a negative net margin of 6.77%.The firm had revenue of $201.66 million for the quarter, compared to analyst estimates of $196.93 million. During the same quarter last year, the firm posted $0.03 EPS. The business's revenue was up 11.2% on a year-over-year basis. On average, analysts anticipate that NeoGenomics, Inc. will post -0.15 EPS for the current fiscal year.

Insider Transactions at NeoGenomics

In other NeoGenomics news, Director Lynn A. Tetrault sold 5,307 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $11.29, for a total transaction of $59,916.03. Following the transaction, the director directly owned 91,422 shares of the company's stock, valued at $1,032,154.38. This trade represents a 5.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NEO shares. Benchmark lifted their target price on shares of NeoGenomics from $11.00 to $16.00 and gave the company a "buy" rating in a report on Friday, July 24th. Leerink Partners upgraded shares of NeoGenomics from a "market perform" rating to an "outperform" rating and raised their price target for the company from $12.00 to $25.00 in a research report on Wednesday, April 29th. Wall Street Zen raised shares of NeoGenomics from a "hold" rating to a "buy" rating in a report on Saturday, June 27th. TD Cowen reiterated a "buy" rating on shares of NeoGenomics in a research report on Wednesday, July 15th. Finally, Needham & Company LLC increased their target price on shares of NeoGenomics from $15.00 to $19.00 and gave the stock a "buy" rating in a research note on Wednesday, July 29th. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.71.

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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