Voya Investment Management LLC Sells 5,003,158 Shares of NeoGenomics, Inc. (NASDAQ:NEO)

Voya Investment Management LLC lessened its position in NeoGenomics, Inc. (NASDAQ:NEO - Free Report) by 98.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 61,688 shares of the medical research company's stock after selling 5,003,158 shares during the period. Voya Investment Management LLC's holdings in NeoGenomics were worth $1,017,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of NEO. Nordea Investment Management AB grew its stake in shares of NeoGenomics by 2.8% during the 4th quarter. Nordea Investment Management AB now owns 77,534 shares of the medical research company's stock worth $1,301,000 after acquiring an additional 2,125 shares during the period. Swiss National Bank lifted its stake in NeoGenomics by 1.0% during the fourth quarter. Swiss National Bank now owns 252,100 shares of the medical research company's stock worth $4,155,000 after purchasing an additional 2,600 shares during the last quarter. Jennison Associates LLC lifted its position in NeoGenomics by 18.7% in the 4th quarter. Jennison Associates LLC now owns 1,514,756 shares of the medical research company's stock worth $24,963,000 after buying an additional 238,288 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of NeoGenomics by 2.4% in the 4th quarter. Rhumbline Advisers now owns 389,003 shares of the medical research company's stock worth $6,411,000 after acquiring an additional 9,098 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of NeoGenomics by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,161,352 shares of the medical research company's stock valued at $19,139,000 after purchasing an additional 26,701 shares during the last quarter. Institutional investors own 98.50% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NEO. Leerink Partners cut NeoGenomics from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $25.00 to $9.00 in a report on Wednesday, April 30th. Morgan Stanley lowered their price target on NeoGenomics from $17.00 to $10.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Bank of America reduced their target price on NeoGenomics from $19.00 to $16.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Needham & Company LLC cut their price target on shares of NeoGenomics from $18.00 to $8.50 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Finally, Piper Sandler set a $12.00 target price on shares of NeoGenomics and gave the stock an "overweight" rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $13.83.

NeoGenomics Stock Down 1.0 %

NASDAQ:NEO traded down $0.08 during trading hours on Friday, reaching $8.05. 961,071 shares of the company traded hands, compared to its average volume of 1,104,950. The company has a current ratio of 1.98, a quick ratio of 1.91 and a debt-to-equity ratio of 0.38. The business's 50-day moving average price is $9.21 and its two-hundred day moving average price is $13.08. NeoGenomics, Inc. has a 1 year low of $6.08 and a 1 year high of $19.12. The stock has a market capitalization of $1.04 billion, a P/E ratio of -12.98 and a beta of 1.60.

NeoGenomics (NASDAQ:NEO - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The medical research company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The firm 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 revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the company posted ($0.02) earnings per share. Analysts predict that NeoGenomics, Inc. will post -0.2 earnings per share for the current year.

Insider Activity at NeoGenomics

In related news, Director David Brian Perez acquired 10,000 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was purchased at an average cost of $7.63 per share, with a total value of $76,300.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company's stock, valued at approximately $76,300. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Jeffrey Scott Sherman bought 20,000 shares of the business's stock in a transaction on Friday, May 2nd. The stock was bought at an average cost of $7.51 per share, with a total value of $150,200.00. Following the transaction, 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 disclosure for this purchase can be found here. In the last three months, insiders have acquired 59,900 shares of company stock valued at $463,532. 2.40% of the stock is owned by corporate insiders.

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.