Federated Hermes Inc. Has $2.42 Million Stock Position in NeoGenomics, Inc. (NASDAQ:NEO)

Federated Hermes Inc. cut its holdings in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 51.8% during the fourth quarter, Holdings Channel reports. The fund owned 149,441 shares of the medical research company’s stock after selling 160,647 shares during the quarter. Federated Hermes Inc.’s holdings in NeoGenomics were worth $2,418,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Redwood Investments LLC acquired a new position in shares of NeoGenomics during the 4th quarter worth approximately $2,399,000. Aigen Investment Management LP acquired a new position in shares of NeoGenomics during the 3rd quarter worth approximately $163,000. Legato Capital Management LLC acquired a new position in shares of NeoGenomics during the 4th quarter worth approximately $401,000. Illinois Municipal Retirement Fund acquired a new position in shares of NeoGenomics during the 3rd quarter worth approximately $960,000. Finally, Brown Advisory Inc. increased its holdings in shares of NeoGenomics by 25.0% during the 3rd quarter. Brown Advisory Inc. now owns 8,246,202 shares of the medical research company’s stock worth $101,428,000 after acquiring an additional 1,651,717 shares during the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, General Counsel Alicia C. Olivo sold 2,587 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $14.96, for a total transaction of $38,701.52. Following the completion of the sale, the general counsel now directly owns 34,866 shares in the company, valued at approximately $521,595.36. The sale was disclosed in a filing with the SEC, which is available through this link. 1.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on NEO. The Goldman Sachs Group upped their price objective on NeoGenomics from $17.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. William Blair reaffirmed an “outperform” rating on shares of NeoGenomics in a report on Wednesday, February 21st. Piper Sandler upped their price objective on NeoGenomics from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, February 26th. Finally, Needham & Company LLC upped their price objective on NeoGenomics from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.50.

NeoGenomics Stock Performance

NASDAQ:NEO opened at $14.14 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 5.95 and a current ratio of 6.20. NeoGenomics, Inc. has a fifty-two week low of $11.03 and a fifty-two week high of $21.22. The company has a market cap of $1.81 billion, a price-to-earnings ratio of -20.20 and a beta of 1.10. The stock has a fifty day moving average price of $15.04 and a 200-day moving average price of $15.94.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings data on Tuesday, February 20th. The medical research company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.05. NeoGenomics had a negative return on equity of 4.13% and a negative net margin of 14.87%. The business had revenue of $155.55 million during the quarter, compared to the consensus estimate of $152.90 million. As a group, equities analysts anticipate that NeoGenomics, Inc. will post -0.2 EPS 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.