Intech Investment Management LLC Reduces Stake in NeoGenomics, Inc. $NEO

Intech Investment Management LLC lowered its stake in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 47.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 73,469 shares of the medical research company’s stock after selling 65,754 shares during the quarter. Intech Investment Management LLC’s holdings in NeoGenomics were worth $567,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Greenhouse Funds LLLP grew its holdings in NeoGenomics by 57.8% during the second quarter. Greenhouse Funds LLLP now owns 7,431,147 shares of the medical research company’s stock valued at $54,322,000 after purchasing an additional 2,722,823 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of NeoGenomics in the second quarter valued at $6,071,000. First Light Asset Management LLC lifted its position in shares of NeoGenomics by 13.3% during the 2nd quarter. First Light Asset Management LLC now owns 6,846,432 shares of the medical research company’s stock valued at $50,047,000 after buying an additional 803,610 shares during the last quarter. Squarepoint Ops LLC lifted its position in shares of NeoGenomics by 246.8% during the 2nd quarter. Squarepoint Ops LLC now owns 735,473 shares of the medical research company’s stock valued at $5,376,000 after buying an additional 523,407 shares during the last quarter. Finally, Aberdeen Group plc grew its stake in shares of NeoGenomics by 91.8% during the 3rd quarter. Aberdeen Group plc now owns 792,263 shares of the medical research company’s stock worth $6,116,000 after acquiring an additional 379,165 shares during the period. Institutional investors own 98.50% of the company’s stock.

Analyst Ratings Changes

NEO has been the topic of a number of research reports. Needham & Company LLC boosted their price objective on NeoGenomics from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NeoGenomics in a research report on Monday, December 29th. Piper Sandler boosted their price target on shares of NeoGenomics from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Tuesday, February 24th. Zacks Research cut shares of NeoGenomics from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Finally, Benchmark reaffirmed a “hold” rating on shares of NeoGenomics in a report on Wednesday, February 18th. Five equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, NeoGenomics has an average rating of “Hold” and a consensus price target of $11.86.

NeoGenomics Stock Performance

Shares of NEO opened at $8.55 on Thursday. NeoGenomics, Inc. has a 52-week low of $4.72 and a 52-week high of $13.74. The stock’s 50-day simple moving average is $11.36 and its 200 day simple moving average is $10.47. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.94 and a current ratio of 4.26. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -10.18 and a beta of 1.62.

NeoGenomics (NASDAQ:NEO) last posted its earnings results on Tuesday, February 17th. The medical research company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. NeoGenomics had a negative return on equity of 3.10% and a negative net margin of 14.85%.The business had revenue of $190.17 million during the quarter, compared to analyst estimates of $188.25 million. During the same quarter in the previous year, the firm earned $0.04 EPS. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. Research analysts forecast that NeoGenomics, Inc. will post -0.2 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Warren Stone sold 22,128 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $12.50, for a total transaction of $276,600.00. Following the completion of the transaction, the chief operating officer owned 121,631 shares of the company’s stock, valued at approximately $1,520,387.50. The trade was a 15.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.40% of the company’s stock.

About NeoGenomics

NeoGenomics, traded on the Nasdaq under the symbol NEO, is a leading provider of cancer-focused genetic and molecular testing services. Headquartered in Fort Myers, Florida, the company operates an integrated network of CAP-accredited and CLIA-certified laboratories across the United States, Europe and Asia. NeoGenomics delivers diagnostic insights that support oncologists, pathologists and healthcare institutions in the detection, prognosis and treatment of hematologic and solid tumor cancers.

The company’s core service offerings include flow cytometry, immunohistochemistry, fluorescence in situ hybridization (FISH), karyotyping and advanced molecular assays such as next-generation sequencing (NGS) panels and polymerase chain reaction (PCR) tests.