Los Angeles Capital Management LLC Cuts Stake in NeoGenomics, Inc. (NASDAQ:NEO)

Los Angeles Capital Management LLC lowered its position in NeoGenomics, Inc. (NASDAQ:NEO) by 5.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,331 shares of the medical research company’s stock after selling 4,302 shares during the quarter. Los Angeles Capital Management LLC’s holdings in NeoGenomics were worth $1,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of NEO. Nordea Investment Management AB grew its position in 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 last quarter. Geode Capital Management LLC grew its position in NeoGenomics by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 3,051,806 shares of the medical research company’s stock worth $45,022,000 after acquiring an additional 36,136 shares during the last quarter. Jennison Associates LLC grew its position in NeoGenomics by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 1,276,468 shares of the medical research company’s stock worth $18,828,000 after acquiring an additional 57,041 shares during the last quarter. Blue Trust Inc. grew its position in NeoGenomics by 42.3% during the 3rd quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company’s stock worth $46,000 after acquiring an additional 987 shares during the last quarter. Finally, Algert Global LLC grew its position in NeoGenomics by 204.3% during the 3rd quarter. Algert Global LLC now owns 79,983 shares of the medical research company’s stock worth $1,180,000 after acquiring an additional 53,700 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Jefferies Financial Group assumed coverage on NeoGenomics in a report on Tuesday, December 10th. They set a “buy” rating and a $22.00 price target on the stock. Piper Sandler reduced their price target on NeoGenomics from $21.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday. Benchmark downgraded NeoGenomics from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Needham & Company LLC reduced their price target on NeoGenomics from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Finally, Bank of America reduced their price target on NeoGenomics from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, NeoGenomics presently has a consensus rating of “Moderate Buy” and an average price target of $19.60.

NeoGenomics Price Performance

NEO stock opened at $9.99 on Friday. NeoGenomics, Inc. has a 1 year low of $9.59 and a 1 year high of $19.11. The company has a market cap of $1.28 billion, a P/E ratio of -16.11 and a beta of 1.23. The firm has a 50-day moving average of $14.49 and a 200 day moving average of $15.24. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.98 and a quick ratio of 1.91.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings results 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 net margin of 11.92% and a negative return on equity of 2.10%. The business had revenue of $172.00 million for the quarter, compared to analysts’ expectations of $173.40 million. On average, sell-side analysts forecast that NeoGenomics, Inc. will post -0.2 EPS for the current 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.