Raymond James Financial Inc. Takes $839,000 Position in NeoGenomics, Inc. (NASDAQ:NEO)

Raymond James Financial Inc. purchased a new position in NeoGenomics, Inc. (NASDAQ:NEO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 50,906 shares of the medical research company's stock, valued at approximately $839,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Loomis Sayles & Co. L P boosted its stake 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 worth $29,528,000 after purchasing an additional 584,502 shares in the last quarter. Norges Bank purchased a new stake in shares of NeoGenomics during the fourth quarter valued at approximately $6,273,000. Jennison Associates LLC increased its position in shares of NeoGenomics by 18.7% during the fourth quarter. Jennison Associates LLC now owns 1,514,756 shares of the medical research company's stock valued at $24,963,000 after acquiring an additional 238,288 shares in the last quarter. Segall Bryant & Hamill LLC raised its holdings in NeoGenomics by 11.6% in the 4th quarter. Segall Bryant & Hamill LLC now owns 2,113,822 shares of the medical research company's stock worth $34,836,000 after acquiring an additional 220,415 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position 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 acquiring an additional 195,793 shares in the last quarter. Institutional investors own 98.50% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on NEO shares. Leerink Partners downgraded NeoGenomics from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $25.00 to $9.00 in a report on Wednesday, April 30th. Morgan Stanley decreased their price objective on shares of NeoGenomics from $17.00 to $10.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Needham & Company LLC lowered their price objective on shares of NeoGenomics from $18.00 to $8.50 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. StockNews.com downgraded shares of NeoGenomics from a "hold" rating to a "sell" rating in a research report on Monday. Finally, The Goldman Sachs Group dropped their price target on NeoGenomics from $15.00 to $10.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $14.50.

NeoGenomics Stock Up 1.8 %

Shares of NEO opened at $7.84 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.98 and a quick ratio of 1.91. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -12.64 and a beta of 1.41. NeoGenomics, Inc. has a 1 year low of $6.08 and a 1 year high of $19.12. The business's 50 day simple moving average is $9.35 and its 200-day simple moving average is $13.22.

NeoGenomics (NASDAQ:NEO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The medical research company reported ($0.08) earnings per share (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 for the quarter, compared to analysts' expectations of $171.38 million. During the same period in the previous year, the company earned ($0.02) EPS. NeoGenomics's revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, equities analysts expect that NeoGenomics, Inc. will post -0.2 earnings per share for the current fiscal year.

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.

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