Aberdeen Group plc Buys 1,006,676 Shares of NeoGenomics, Inc. $NEO

Aberdeen Group plc raised its stake in NeoGenomics, Inc. (NASDAQ:NEO) by 127.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,798,939 shares of the medical research company’s stock after acquiring an additional 1,006,676 shares during the quarter. Aberdeen Group plc’s holdings in NeoGenomics were worth $21,156,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the company. Royal Bank of Canada increased its holdings in NeoGenomics by 51.2% in the 1st quarter. Royal Bank of Canada now owns 56,026 shares of the medical research company’s stock worth $532,000 after acquiring an additional 18,966 shares during the last quarter. AQR Capital Management LLC purchased a new position in NeoGenomics during the 1st quarter valued at about $271,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in NeoGenomics by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 75,798 shares of the medical research company’s stock valued at $719,000 after buying an additional 3,254 shares in the last quarter. Intech Investment Management LLC increased its position in shares of NeoGenomics by 19.7% during the first quarter. Intech Investment Management LLC now owns 151,806 shares of the medical research company’s stock valued at $1,441,000 after buying an additional 24,965 shares during the period. Finally, Creative Planning increased its position in shares of NeoGenomics by 20.4% during the second quarter. Creative Planning now owns 16,735 shares of the medical research company’s stock valued at $122,000 after buying an additional 2,840 shares during the period. Hedge funds and other institutional investors own 98.50% of the company’s stock.

NeoGenomics Stock Performance

NEO stock opened at $8.00 on Monday. The company has a market capitalization of $1.04 billion, a PE ratio of -9.52 and a beta of 1.72. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.94 and a current ratio of 4.26. NeoGenomics, Inc. has a one year low of $4.72 and a one year high of $13.74. The company’s 50 day moving average price is $9.73 and its two-hundred day moving average price is $10.49.

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

Insider Activity

In other news, COO Warren Stone sold 22,128 shares of NeoGenomics stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $12.50, for a total value of $276,600.00. Following the transaction, the chief operating officer owned 121,631 shares in the company, valued at approximately $1,520,387.50. The trade was a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on NEO shares. Needham & Company LLC upped their target price on shares of NeoGenomics from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. UBS Group reissued a “hold” rating on shares of NeoGenomics in a report on Wednesday, February 18th. William Blair restated a “market perform” rating on shares of NeoGenomics in a research report on Monday, March 16th. Weiss Ratings restated a “sell (d-)” rating on shares of NeoGenomics in a research note on Friday, March 27th. Finally, Piper Sandler raised their price target on NeoGenomics from $12.00 to $13.00 and gave the company an “overweight” rating in a report on Tuesday, February 24th. Five investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $11.86.

NeoGenomics Profile

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.