NeoGenomics, Inc. (NASDAQ:NEO) Shares Purchased by Northern Trust Corp

Northern Trust Corp grew its stake in shares of NeoGenomics, Inc. (NASDAQ:NEO - Free Report) by 7.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,621,809 shares of the medical research company's stock after purchasing an additional 111,170 shares during the quarter. Northern Trust Corp owned approximately 1.26% of NeoGenomics worth $26,727,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. SBI Securities Co. Ltd. purchased a new stake in NeoGenomics in the fourth quarter valued at approximately $26,000. Sterling Capital Management LLC increased its holdings in shares of NeoGenomics by 788.7% in the 4th quarter. Sterling Capital Management LLC now owns 3,706 shares of the medical research company's stock valued at $61,000 after acquiring an additional 3,289 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of NeoGenomics by 203.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,156 shares of the medical research company's stock valued at $70,000 after acquiring an additional 2,787 shares during the period. Blue Trust Inc. raised its position in NeoGenomics by 33.2% in the 4th quarter. Blue Trust Inc. now owns 4,421 shares of the medical research company's stock valued at $73,000 after purchasing an additional 1,103 shares during the last quarter. Finally, KBC Group NV boosted its stake in NeoGenomics by 44.7% during the 4th quarter. KBC Group NV now owns 6,557 shares of the medical research company's stock worth $108,000 after purchasing an additional 2,027 shares during the period. Hedge funds and other institutional investors own 98.50% of the company's stock.

NeoGenomics Price Performance

Shares of NEO traded up $0.08 during mid-day trading on Friday, hitting $7.92. The company's stock had a trading volume of 172,869 shares, compared to its average volume of 1,119,418. 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 1-year low of $6.08 and a 1-year high of $19.12. The firm has a market capitalization of $1.02 billion, a P/E ratio of -12.78 and a beta of 1.60. The firm has a 50-day simple moving average of $9.07 and a 200 day simple moving average of $12.94.

NeoGenomics (NASDAQ:NEO - Get Free Report) last released 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 net margin of 11.92% and a negative return on equity of 2.10%. The business had revenue of $168.04 million during the quarter, compared to analyst estimates of $171.38 million. During the same period last year, the business posted ($0.02) EPS. NeoGenomics's revenue was up 7.6% compared to the same quarter last year. Analysts predict that NeoGenomics, Inc. will post -0.2 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Jeffrey Scott Sherman acquired 20,000 shares of NeoGenomics stock in a transaction that occurred on Friday, May 2nd. The stock was purchased at an average cost of $7.51 per share, with a total value of $150,200.00. Following the completion of the acquisition, the chief financial officer now owns 158,494 shares in the company, valued at $1,190,289.94. This trade represents a 14.44% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Warren Stone bought 5,700 shares of the stock in a transaction on Monday, May 12th. The stock was purchased at an average cost of $8.58 per share, for a total transaction of $48,906.00. Following the acquisition, the chief operating officer now directly owns 108,280 shares of the company's stock, valued at $929,042.40. The trade was a 5.56% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 65,600 shares of company stock valued at $512,438. Corporate insiders own 2.40% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Piper Sandler set a $12.00 price objective on shares of NeoGenomics and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Leerink Partnrs downgraded NeoGenomics from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. The Goldman Sachs Group decreased their price objective on NeoGenomics from $15.00 to $10.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. StockNews.com upgraded NeoGenomics from a "sell" rating to a "hold" rating in a research note on Tuesday. Finally, Guggenheim began coverage on NeoGenomics in a research note on Thursday. They set a "neutral" rating for the company. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, NeoGenomics has an average rating of "Hold" and an average target price of $13.83.

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.