Invesco Ltd. Decreases Stock Holdings in NeoGenomics, Inc. (NASDAQ:NEO)

Invesco Ltd. reduced its position in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 6.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 410,967 shares of the medical research company’s stock after selling 27,789 shares during the quarter. Invesco Ltd. owned approximately 0.32% of NeoGenomics worth $6,773,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in NeoGenomics in the fourth quarter worth $26,000. Versant Capital Management Inc lifted its position in shares of NeoGenomics by 174.9% in the 4th quarter. Versant Capital Management Inc now owns 1,795 shares of the medical research company’s stock worth $30,000 after purchasing an additional 1,142 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of NeoGenomics by 203.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,156 shares of the medical research company’s stock valued at $70,000 after purchasing an additional 2,787 shares in the last quarter. Blue Trust Inc. increased its position in shares of NeoGenomics by 33.2% during the fourth quarter. Blue Trust Inc. now owns 4,421 shares of the medical research company’s stock valued at $73,000 after buying an additional 1,103 shares during the period. Finally, KBC Group NV raised its stake in NeoGenomics by 44.7% in the fourth quarter. KBC Group NV now owns 6,557 shares of the medical research company’s stock worth $108,000 after buying an additional 2,027 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

NeoGenomics Trading Up 1.8 %

NASDAQ:NEO opened at $10.09 on Friday. NeoGenomics, Inc. has a 52 week low of $8.05 and a 52 week high of $19.12. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -16.27 and a beta of 1.41. The company’s 50 day moving average price is $9.84 and its 200-day moving average price is $13.50. The company has a quick ratio of 1.91, a current ratio of 1.98 and a debt-to-equity ratio of 0.38.

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

Analyst Ratings Changes

NEO has been the topic of a number of research analyst reports. The Goldman Sachs Group reduced their target price on NeoGenomics from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Bank of America decreased their price objective on NeoGenomics from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Piper Sandler dropped their target price on shares of NeoGenomics from $21.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Benchmark downgraded shares of NeoGenomics from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Needham & Company LLC lowered their price target on shares of NeoGenomics from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, NeoGenomics presently has a consensus rating of “Moderate Buy” and an average target price of $19.30.

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.