Royce & Associates LP Raises Position in NeoGenomics, Inc. (NASDAQ:NEO)

Royce & Associates LP raised its position in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 5.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 675,866 shares of the medical research company’s stock after acquiring an additional 36,390 shares during the period. Royce & Associates LP’s holdings in NeoGenomics were worth $11,138,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its holdings in NeoGenomics by 5.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 15,610 shares of the medical research company’s stock worth $257,000 after purchasing an additional 770 shares during the period. FMR LLC boosted its position in shares of NeoGenomics by 7.6% in the 3rd quarter. FMR LLC now owns 13,255 shares of the medical research company’s stock worth $196,000 after purchasing an additional 931 shares in the last quarter. Blue Trust Inc. grew its stake in shares of NeoGenomics by 33.2% in the 4th quarter. Blue Trust Inc. now owns 4,421 shares of the medical research company’s stock worth $73,000 after buying an additional 1,103 shares during the last quarter. KBC Group NV increased its position in NeoGenomics by 33.1% during the 3rd quarter. KBC Group NV now owns 4,530 shares of the medical research company’s stock valued at $67,000 after buying an additional 1,127 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in NeoGenomics by 174.9% during the fourth quarter. Versant Capital Management Inc now owns 1,795 shares of the medical research company’s stock valued at $30,000 after buying an additional 1,142 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on NEO shares. The Goldman Sachs Group reduced their price target on NeoGenomics from $20.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Needham & Company LLC decreased their target price on shares of NeoGenomics from $19.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Jefferies Financial Group began coverage on shares of NeoGenomics in a report on Tuesday, December 10th. They set a “buy” rating and a $22.00 price target on the stock. Benchmark downgraded shares of NeoGenomics from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Piper Sandler lowered their price objective on NeoGenomics from $21.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, NeoGenomics currently has a consensus rating of “Moderate Buy” and an average target price of $19.60.

NeoGenomics Price Performance

NASDAQ NEO opened at $9.84 on Tuesday. NeoGenomics, Inc. has a 1-year low of $8.98 and a 1-year high of $19.12. 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 $1.26 billion, a price-to-earnings ratio of -15.87 and a beta of 1.28. The business’s fifty day moving average price is $12.96 and its 200-day moving average price is $14.74.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings data on Tuesday, February 18th. The medical research company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). NeoGenomics had a negative return on equity of 2.10% and a negative net margin of 11.92%. The firm had revenue of $172.00 million during the quarter, compared to analysts’ expectations of $173.40 million. On average, equities analysts predict that NeoGenomics, Inc. will post -0.2 earnings per share for the current year.

About NeoGenomics

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.