NeoGenomics, Inc. (NASDAQ:NEO) Shares Sold by Bank of Montreal Can

Bank of Montreal Can trimmed its holdings in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 99.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,623 shares of the medical research company’s stock after selling 20,022,431 shares during the quarter. Bank of Montreal Can’s holdings in NeoGenomics were worth $406,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

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

NeoGenomics Stock Up 1.8 %

NeoGenomics stock opened at $9.75 on Wednesday. The company has a 50-day simple moving average of $10.02 and a 200-day simple moving average of $13.55. NeoGenomics, Inc. has a one year low of $8.05 and a one year high of $19.12. The firm has a market capitalization of $1.25 billion, a P/E ratio of -15.73 and a beta of 1.41. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.91 and a current ratio of 1.98.

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

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.