Jennison Associates LLC grew its position in NeoGenomics, Inc. (NASDAQ:NEO - Free Report) by 17.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 591,556 shares of the medical research company's stock after acquiring an additional 89,473 shares during the quarter. Jennison Associates LLC owned 0.46% of NeoGenomics worth $9,571,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of NEO. Handelsbanken Fonder AB lifted its position in shares of NeoGenomics by 7.0% during the 4th quarter. Handelsbanken Fonder AB now owns 19,900 shares of the medical research company's stock worth $322,000 after buying an additional 1,300 shares during the period. BluePath Capital Management LLC bought a new position in shares of NeoGenomics during the 3rd quarter worth approximately $30,000. Swiss National Bank lifted its position in shares of NeoGenomics by 1.0% during the 3rd quarter. Swiss National Bank now owns 280,400 shares of the medical research company's stock worth $3,449,000 after buying an additional 2,700 shares during the period. Teacher Retirement System of Texas lifted its position in shares of NeoGenomics by 9.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 31,394 shares of the medical research company's stock worth $386,000 after buying an additional 2,730 shares during the period. Finally, Oak Family Advisors LLC increased its holdings in NeoGenomics by 3.4% during the 4th quarter. Oak Family Advisors LLC now owns 99,978 shares of the medical research company's stock valued at $1,618,000 after purchasing an additional 3,241 shares in the last quarter. Institutional investors own 98.50% of the company's stock.
Analyst Ratings Changes
NEO has been the subject of a number of recent analyst reports. William Blair reaffirmed an "outperform" rating on shares of NeoGenomics in a report on Wednesday, February 21st. TD Cowen lowered their target price on NeoGenomics from $22.00 to $19.00 and set an "outperform" rating for the company in a research note on Friday, December 29th. The Goldman Sachs Group lifted their target price on NeoGenomics from $17.00 to $19.00 and gave the company a "buy" rating in a research note on Thursday, February 22nd. Needham & Company LLC lifted their target price on NeoGenomics from $21.00 to $24.00 and gave the company a "buy" rating in a research note on Wednesday, February 21st. Finally, Piper Sandler lifted their price objective on NeoGenomics from $18.00 to $20.00 and gave the stock an "overweight" rating in a research note on Monday, February 26th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $19.50.
Check Out Our Latest Stock Analysis on NeoGenomics
NeoGenomics Price Performance
NeoGenomics stock traded up $0.29 during mid-day trading on Friday, reaching $14.14. 830,782 shares of the company were exchanged, compared to its average volume of 638,425. The company has a fifty day simple moving average of $15.04 and a 200-day simple moving average of $15.92. NeoGenomics, Inc. has a 12 month low of $11.03 and a 12 month high of $21.22. The company has a debt-to-equity ratio of 0.57, a current ratio of 6.20 and a quick ratio of 5.95. The firm has a market cap of $1.81 billion, a PE ratio of -20.20 and a beta of 1.10.
NeoGenomics (NASDAQ:NEO - Get Free Report) last posted its quarterly earnings data on Tuesday, February 20th. The medical research company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.07) by $0.05. NeoGenomics had a negative return on equity of 4.13% and a negative net margin of 14.87%. The firm had revenue of $155.55 million for the quarter, compared to analyst estimates of $152.90 million. As a group, equities research analysts expect that NeoGenomics, Inc. will post -0.2 earnings per share for the current fiscal year.
Insider Buying and Selling at NeoGenomics
In other news, General Counsel Alicia C. Olivo sold 2,587 shares of the firm's stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $14.96, for a total transaction of $38,701.52. Following the completion of the transaction, the general counsel now directly owns 34,866 shares in the company, valued at $521,595.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.30% of the company's stock.
About NeoGenomics
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Free Report)
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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