Legal & General Group Plc Cuts Position in NeoGenomics, Inc. (NASDAQ:NEO)

Legal & General Group Plc reduced its stake in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 2.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 356,814 shares of the medical research company’s stock after selling 10,560 shares during the period. Legal & General Group Plc owned approximately 0.28% of NeoGenomics worth $5,880,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Loomis Sayles & Co. L P boosted its position in NeoGenomics by 48.4% during the fourth quarter. Loomis Sayles & Co. L P now owns 1,791,792 shares of the medical research company’s stock worth $29,528,000 after purchasing an additional 584,502 shares in the last quarter. Norges Bank acquired a new stake in NeoGenomics in the 4th quarter valued at about $6,273,000. Jennison Associates LLC increased its holdings in NeoGenomics by 18.7% during the 4th quarter. Jennison Associates LLC now owns 1,514,756 shares of the medical research company’s stock valued at $24,963,000 after acquiring an additional 238,288 shares in the last quarter. Segall Bryant & Hamill LLC raised its position in NeoGenomics by 11.6% during the fourth quarter. Segall Bryant & Hamill LLC now owns 2,113,822 shares of the medical research company’s stock worth $34,836,000 after acquiring an additional 220,415 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of NeoGenomics by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 14,239,887 shares of the medical research company’s stock valued at $234,673,000 after purchasing an additional 195,793 shares in the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

NeoGenomics Stock Down 0.1 %

Shares of NASDAQ NEO opened at $9.55 on Monday. The company has a quick ratio of 1.91, a current ratio of 1.98 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $1.23 billion, a PE ratio of -15.40 and a beta of 1.41. The firm has a fifty day moving average of $10.19 and a 200-day moving average of $13.60. NeoGenomics, Inc. has a 52-week low of $8.05 and a 52-week high of $19.12.

NeoGenomics (NASDAQ:NEO) last posted 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). The firm had revenue of $172.00 million for the quarter, compared to analysts’ expectations of $173.40 million. NeoGenomics had a negative net margin of 11.92% and a negative return on equity of 2.10%. On average, analysts anticipate that NeoGenomics, Inc. will post -0.2 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Needham & Company LLC cut their price objective on NeoGenomics from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Piper Sandler dropped their price objective on NeoGenomics from $21.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. The Goldman Sachs Group reduced their target price on shares of NeoGenomics from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday. Bank of America cut their price objective on shares of NeoGenomics from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Finally, Benchmark downgraded NeoGenomics from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.30.

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.