Invesco Ltd. Trims Stock Position in NeoGenomics, Inc. (NASDAQ:NEO)

Invesco Ltd. trimmed its holdings in shares of NeoGenomics, Inc. (NASDAQ:NEO - Free Report) by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 410,967 shares of the medical research company's stock after selling 27,789 shares during the quarter. Invesco Ltd. owned approximately 0.32% of NeoGenomics worth $6,773,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in NeoGenomics by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 14,239,887 shares of the medical research company's stock valued at $234,673,000 after buying an additional 195,793 shares in the last quarter. Segall Bryant & Hamill LLC increased its position in NeoGenomics by 11.6% during the fourth quarter. Segall Bryant & Hamill LLC now owns 2,113,822 shares of the medical research company's stock worth $34,836,000 after purchasing an additional 220,415 shares during the last quarter. Franklin Resources Inc. raised its stake in NeoGenomics by 2.0% during the third quarter. Franklin Resources Inc. now owns 2,043,840 shares of the medical research company's stock worth $28,225,000 after purchasing an additional 39,740 shares during the period. Loomis Sayles & Co. L P boosted its holdings in NeoGenomics by 48.4% in the 4th quarter. Loomis Sayles & Co. L P now owns 1,791,792 shares of the medical research company's stock valued at $29,528,000 after purchasing an additional 584,502 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in shares of NeoGenomics by 18.7% in the 4th quarter. Jennison Associates LLC now owns 1,514,756 shares of the medical research company's stock valued at $24,963,000 after buying an additional 238,288 shares during the period. Hedge funds and other institutional investors own 98.50% of the company's stock.

Analyst Ratings Changes

NEO has been the subject of several analyst reports. Benchmark lowered NeoGenomics from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. Needham & Company LLC decreased their target price on shares of NeoGenomics from $18.00 to $8.50 and set a "buy" rating on the stock in a research report on Tuesday. Leerink Partners downgraded shares of NeoGenomics from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $25.00 to $9.00 in a research note on Wednesday. The Goldman Sachs Group lowered their price objective on shares of NeoGenomics from $15.00 to $10.00 and set a "buy" rating for the company in a research report on Wednesday. Finally, Bank of America cut their target price on NeoGenomics from $19.00 to $16.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, NeoGenomics presently has an average rating of "Moderate Buy" and an average price target of $17.05.

NeoGenomics Stock Down 2.9 %

NASDAQ:NEO traded down $0.19 during mid-day trading on Wednesday, hitting $6.39. The stock had a trading volume of 9,764,119 shares, compared to its average volume of 1,042,200. The company has a current ratio of 1.98, a quick ratio of 1.91 and a debt-to-equity ratio of 0.38. NeoGenomics, Inc. has a twelve month low of $6.08 and a twelve month high of $19.12. The company has a market capitalization of $822.12 million, a PE ratio of -10.31 and a beta of 1.41. The stock has a 50-day simple moving average of $9.54 and a two-hundred day simple moving average of $13.36.

NeoGenomics (NASDAQ:NEO - Get Free Report) last issued its earnings results on Tuesday, April 29th. The medical research company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.06). NeoGenomics had a negative return on equity of 2.10% and a negative net margin of 11.92%. The firm had revenue of $168.04 million for the quarter, compared to analyst estimates of $171.38 million. During the same quarter in the previous year, the firm posted ($0.02) EPS. The business's revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities research analysts anticipate that NeoGenomics, Inc. will post -0.2 EPS for the current year.

About NeoGenomics

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.