Franklin Resources Inc. Acquires 12,381 Shares of NeoGenomics, Inc. $NEO

Franklin Resources Inc. increased its holdings in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 0.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,478,280 shares of the medical research company’s stock after purchasing an additional 12,381 shares during the quarter. Franklin Resources Inc. owned approximately 1.14% of NeoGenomics worth $10,806,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Prescott Group Capital Management L.L.C. purchased a new position in shares of NeoGenomics in the second quarter worth $292,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in NeoGenomics in the 2nd quarter valued at $508,000. Bastion Asset Management Inc. purchased a new stake in NeoGenomics in the 2nd quarter worth $1,410,000. Campbell & CO Investment Adviser LLC boosted its holdings in shares of NeoGenomics by 283.2% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 76,775 shares of the medical research company’s stock valued at $561,000 after purchasing an additional 56,739 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its position in shares of NeoGenomics by 7.7% during the second quarter. State of Alaska Department of Revenue now owns 76,565 shares of the medical research company’s stock valued at $558,000 after purchasing an additional 5,441 shares in the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

NeoGenomics Trading Down 0.2%

NEO stock opened at $12.10 on Friday. NeoGenomics, Inc. has a twelve month low of $4.72 and a twelve month high of $19.11. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of -13.75 and a beta of 1.67. The company has a quick ratio of 3.58, a current ratio of 3.91 and a debt-to-equity ratio of 0.41. The firm’s fifty day simple moving average is $9.89 and its two-hundred day simple moving average is $8.08.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings results on Tuesday, October 28th. The medical research company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $187.80 million during the quarter, compared to analysts’ expectations of $183.85 million. NeoGenomics had a negative net margin of 16.00% and a negative return on equity of 3.36%. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.05 EPS. NeoGenomics has set its FY 2025 guidance at 0.080-0.120 EPS. As a group, analysts anticipate that NeoGenomics, Inc. will post -0.2 earnings per share for the current year.

Insider Activity at NeoGenomics

In other news, EVP Alicia C. Olivo sold 20,916 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $12.00, for a total value of $250,992.00. Following the sale, the executive vice president directly owned 31,083 shares in the company, valued at approximately $372,996. This represents a 40.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

NEO has been the subject of a number of research reports. Cowen reissued a “buy” rating on shares of NeoGenomics in a research note on Friday, September 12th. Piper Sandler set a $11.00 target price on NeoGenomics and gave the company an “overweight” rating in a research report on Monday, August 4th. Stephens boosted their price target on shares of NeoGenomics from $6.50 to $11.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 2nd. TD Cowen increased their price objective on shares of NeoGenomics from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of NeoGenomics in a research note on Monday, November 24th. Seven equities research 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’s stock. According to data from MarketBeat.com, NeoGenomics presently has an average rating of “Hold” and a consensus target price of $13.11.

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.