Price T Rowe Associates Inc. MD Reduces Holdings in NeoGenomics, Inc. (NASDAQ:NEO)

Price T Rowe Associates Inc. MD decreased its position in NeoGenomics, Inc. (NASDAQ:NEO - Free Report) by 78.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,574 shares of the medical research company's stock after selling 340,966 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.07% of NeoGenomics worth $1,510,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Greenhouse Funds LLLP boosted its holdings in NeoGenomics by 5.3% during the fourth quarter. Greenhouse Funds LLLP now owns 4,701,897 shares of the medical research company's stock worth $77,487,000 after buying an additional 237,491 shares during the last quarter. Mirova acquired a new position in NeoGenomics in the 4th quarter valued at $1,070,000. MetLife Investment Management LLC boosted its stake in NeoGenomics by 3.5% in the fourth quarter. MetLife Investment Management LLC now owns 77,403 shares of the medical research company's stock valued at $1,276,000 after buying an additional 2,596 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of NeoGenomics by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,436,858 shares of the medical research company's stock worth $56,645,000 after purchasing an additional 78,211 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of NeoGenomics by 316.9% in the 4th quarter. First Trust Advisors LP now owns 132,180 shares of the medical research company's stock worth $2,178,000 after purchasing an additional 100,475 shares during the period. Institutional investors and hedge funds own 98.50% of the company's stock.

NeoGenomics Stock Performance

Shares of NASDAQ NEO traded down $0.13 during mid-day trading on Tuesday, hitting $8.38. The company had a trading volume of 937,999 shares, compared to its average volume of 1,113,337. The firm's 50 day simple moving average is $9.18 and its two-hundred day simple moving average is $13.05. NeoGenomics, Inc. has a 12 month low of $6.08 and a 12 month high of $19.12. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -13.52 and a beta of 1.60. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.98 and a quick ratio of 1.91.

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

Insiders Place Their Bets

In related news, COO Warren Stone acquired 5,700 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average cost of $8.58 per share, for a total transaction of $48,906.00. Following the transaction, the chief operating officer now directly owns 108,280 shares in the company, valued at $929,042.40. This trade represents a 5.56% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen M. Kanovsky bought 4,000 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were bought at an average cost of $7.78 per share, for a total transaction of $31,120.00. Following the completion of the acquisition, the director now directly owns 40,090 shares in the company, valued at approximately $311,900.20. This trade represents a 11.08% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 65,600 shares of company stock worth $512,438. 2.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on NEO. Benchmark downgraded NeoGenomics from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. Needham & Company LLC lowered their price target on shares of NeoGenomics from $18.00 to $8.50 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Bank of America cut their price target on NeoGenomics from $19.00 to $16.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. StockNews.com raised shares of NeoGenomics from a "sell" rating to a "hold" rating in a research note on Tuesday. Finally, The Goldman Sachs Group decreased their target price on NeoGenomics from $15.00 to $10.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $13.83.

NeoGenomics Company 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.