Federated Hermes Inc. Sells 160,647 Shares of NeoGenomics, Inc. (NASDAQ:NEO)

Federated Hermes Inc. trimmed its holdings in NeoGenomics, Inc. (NASDAQ:NEO - Free Report) by 51.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 149,441 shares of the medical research company's stock after selling 160,647 shares during the period. Federated Hermes Inc. owned 0.12% of NeoGenomics worth $2,418,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of NEO. BluePath Capital Management LLC acquired a new stake in NeoGenomics during the third quarter worth about $30,000. WINTON GROUP Ltd purchased a new stake in NeoGenomics during the third quarter worth approximately $133,000. Corton Capital Inc. acquired a new stake in shares of NeoGenomics in the third quarter worth $141,000. Aigen Investment Management LP acquired a new position in shares of NeoGenomics during the 3rd quarter valued at $163,000. Finally, Mackenzie Financial Corp purchased a new stake in NeoGenomics during the 3rd quarter worth $199,000. Institutional investors and hedge funds own 98.50% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NEO. Needham & Company LLC upped their target price on NeoGenomics from $21.00 to $24.00 and gave the stock a "buy" rating in a research report on Wednesday, February 21st. Piper Sandler raised their price target on shares of NeoGenomics from $18.00 to $20.00 and gave the company an "overweight" rating in a report on Monday, February 26th. The Goldman Sachs Group boosted their price objective on shares of NeoGenomics from $17.00 to $19.00 and gave the stock a "buy" rating in a report on Thursday, February 22nd. Finally, William Blair reiterated an "outperform" rating on shares of NeoGenomics in a research note on Wednesday, February 21st. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.50.

NeoGenomics Stock Performance

Shares of NASDAQ:NEO traded up $1.08 during trading on Monday, reaching $15.22. 2,380,812 shares of the company's stock traded hands, compared to its average volume of 912,010. 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 company has a 50 day moving average of $15.05 and a 200-day moving average of $15.96. NeoGenomics, Inc. has a 12 month low of $11.03 and a 12 month high of $21.22. The stock has a market capitalization of $1.94 billion, a P/E ratio of -21.74 and a beta of 1.10.

NeoGenomics (NASDAQ:NEO - Get Free Report) last announced its quarterly earnings results on Tuesday, February 20th. The medical research company reported ($0.02) earnings per share for the quarter, topping analysts' consensus estimates of ($0.07) by $0.05. The business had revenue of $155.55 million for the quarter, compared to analysts' expectations of $152.90 million. NeoGenomics had a negative return on equity of 4.13% and a negative net margin of 14.87%. On average, equities analysts expect that NeoGenomics, Inc. will post -0.2 EPS for the current year.

Insider Activity

In other NeoGenomics news, General Counsel Alicia C. Olivo sold 2,587 shares of the company's stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $14.96, for a total value of $38,701.52. Following the completion of the transaction, the general counsel now owns 34,866 shares in the company, valued at approximately $521,595.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.30% of the company's stock.

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.