NeoGenomics, Inc. $NEO Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA trimmed its holdings in NeoGenomics, Inc. (NASDAQ:NEO) by 8.1% in the first quarter, Holdings Channel.com reports. The institutional investor owned 1,297,183 shares of the medical research company’s stock after selling 113,652 shares during the quarter. Glenmede Trust Co. NA’s holdings in NeoGenomics were worth $9,625,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Royal Bank of Canada lifted its position in NeoGenomics by 51.2% during the 1st quarter. Royal Bank of Canada now owns 56,026 shares of the medical research company’s stock worth $532,000 after acquiring an additional 18,966 shares during the period. AQR Capital Management LLC acquired a new position in shares of NeoGenomics in the first quarter valued at approximately $271,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of NeoGenomics by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 75,798 shares of the medical research company’s stock valued at $719,000 after purchasing an additional 3,254 shares during the period. Intech Investment Management LLC raised its stake in shares of NeoGenomics by 19.7% during the first quarter. Intech Investment Management LLC now owns 151,806 shares of the medical research company’s stock worth $1,441,000 after purchasing an additional 24,965 shares during the last quarter. Finally, Creative Planning raised its stake in shares of NeoGenomics by 20.4% during the second quarter. Creative Planning now owns 16,735 shares of the medical research company’s stock worth $122,000 after purchasing an additional 2,840 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. TD Cowen reiterated a “buy” rating on shares of NeoGenomics in a research report on Wednesday, July 15th. Benchmark upped their price objective on shares of NeoGenomics from $11.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Leerink Partners raised shares of NeoGenomics from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $12.00 to $25.00 in a report on Wednesday, April 29th. Weiss Ratings upgraded shares of NeoGenomics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. Finally, Needham & Company LLC increased their price target on shares of NeoGenomics from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, NeoGenomics has an average rating of “Moderate Buy” and an average price target of $16.71.

NeoGenomics Trading Up 3.6%

Shares of NEO stock opened at $15.84 on Tuesday. The business’s fifty day moving average price is $12.91 and its 200 day moving average price is $10.73. NeoGenomics, Inc. has a 1-year low of $5.09 and a 1-year high of $16.34. The firm has a market capitalization of $2.04 billion, a PE ratio of -39.60 and a beta of 1.74. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.60 and a quick ratio of 3.35.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results on Tuesday, July 28th. The medical research company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The business had revenue of $201.66 million for the quarter, compared to analysts’ expectations of $196.93 million. NeoGenomics had a negative net margin of 6.77% and a negative return on equity of 1.99%. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.03 EPS. As a group, sell-side analysts forecast that NeoGenomics, Inc. will post -0.15 EPS for the current fiscal year.

Insider Activity

In related news, Director Lynn A. Tetrault sold 5,307 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $11.29, for a total value of $59,916.03. Following the sale, the director owned 91,422 shares in the company, valued at $1,032,154.38. This represents a 5.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.10% of the company’s stock.

NeoGenomics Company 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.