Franklin Resources Inc. Raises Stake in NeoGenomics, Inc. (NASDAQ:NEO)

Franklin Resources Inc. boosted its holdings in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 2.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,043,840 shares of the medical research company’s stock after buying an additional 39,740 shares during the quarter. Franklin Resources Inc. owned 1.59% of NeoGenomics worth $28,225,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Loomis Sayles & Co. L P purchased a new stake in shares of NeoGenomics in the third quarter worth about $17,807,000. Segall Bryant & Hamill LLC lifted its holdings in NeoGenomics by 67.0% in the third quarter. Segall Bryant & Hamill LLC now owns 1,893,407 shares of the medical research company’s stock valued at $27,928,000 after acquiring an additional 759,524 shares during the period. First Light Asset Management LLC boosted its position in NeoGenomics by 14.5% in the 2nd quarter. First Light Asset Management LLC now owns 3,782,561 shares of the medical research company’s stock worth $52,464,000 after purchasing an additional 480,396 shares in the last quarter. Bellevue Group AG grew its stake in shares of NeoGenomics by 34.2% during the 3rd quarter. Bellevue Group AG now owns 1,612,612 shares of the medical research company’s stock worth $23,786,000 after purchasing an additional 410,516 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of NeoGenomics by 7.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,324,624 shares of the medical research company’s stock valued at $46,108,000 after purchasing an additional 217,687 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NeoGenomics news, General Counsel Alicia C. Olivo sold 5,175 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $15.36, for a total value of $79,488.00. Following the completion of the sale, the general counsel now directly owns 37,129 shares of the company’s stock, valued at $570,301.44. This trade represents a 12.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Benchmark restated a “buy” rating and set a $18.00 price target on shares of NeoGenomics in a research report on Tuesday, September 24th. Bank of America raised their target price on NeoGenomics from $18.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 price target on shares of NeoGenomics in a report on Wednesday, November 6th. Finally, Jefferies Financial Group began coverage on NeoGenomics in a report on Tuesday, December 10th. They issued a “buy” rating and a $22.00 price objective on the stock. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $20.30.

NeoGenomics Stock Performance

Shares of NASDAQ:NEO opened at $16.49 on Thursday. The business’s 50 day moving average price is $15.63 and its 200-day moving average price is $15.21. NeoGenomics, Inc. has a 1 year low of $12.77 and a 1 year high of $21.22. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.99 and a quick ratio of 1.91. The firm has a market capitalization of $2.12 billion, a PE ratio of -27.03 and a beta of 1.24.

NeoGenomics (NASDAQ:NEO) last released its earnings results on Tuesday, November 5th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The business had revenue of $167.80 million during the quarter, compared to analyst estimates of $167.00 million. NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. As a group, equities research analysts expect that NeoGenomics, Inc. will post -0.16 earnings per share for the current fiscal year.

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.