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

Aberdeen Group plc boosted its stake in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 127.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,798,939 shares of the medical research company’s stock after buying an additional 1,006,676 shares during the quarter. Aberdeen Group plc owned approximately 1.39% of NeoGenomics worth $21,156,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC acquired a new stake in NeoGenomics during the 4th quarter valued at approximately $142,000. Holos Integrated Wealth LLC bought a new position in shares of NeoGenomics in the 4th quarter worth about $76,000. GAMMA Investing LLC raised its position in shares of NeoGenomics by 68.2% in the 4th quarter. GAMMA Investing LLC now owns 3,602 shares of the medical research company’s stock worth $42,000 after acquiring an additional 1,460 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new position in shares of NeoGenomics in the 3rd quarter valued at about $106,000. Finally, CANADA LIFE ASSURANCE Co lifted its stake in shares of NeoGenomics by 11.4% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 150,140 shares of the medical research company’s stock valued at $1,166,000 after purchasing an additional 15,403 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

Insider Activity

In other news, COO Warren Stone sold 22,128 shares of the company’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $12.50, for a total value of $276,600.00. Following the completion of the transaction, the chief operating officer directly owned 121,631 shares of the company’s stock, valued at $1,520,387.50. This represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of NeoGenomics in a research note on Friday, March 27th. Needham & Company LLC increased their target price on shares of NeoGenomics from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, February 17th. Benchmark restated a “hold” rating on shares of NeoGenomics in a report on Wednesday, February 18th. UBS Group reaffirmed a “hold” rating on shares of NeoGenomics in a research note on Wednesday, February 18th. Finally, William Blair reiterated a “market perform” rating on shares of NeoGenomics in a report on Monday, March 16th. Five research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $11.86.

NeoGenomics Price Performance

Shares of NASDAQ:NEO opened at $8.00 on Monday. The company has a current ratio of 4.26, a quick ratio of 3.94 and a debt-to-equity ratio of 0.41. The stock’s fifty day simple moving average is $9.73 and its two-hundred day simple moving average is $10.49. NeoGenomics, Inc. has a 1-year low of $4.72 and a 1-year high of $13.74. The stock has a market cap of $1.04 billion, a PE ratio of -9.52 and a beta of 1.72.

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

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.