Bank of New York Mellon Corp Grows Stock Holdings in NeoGenomics, Inc. (NASDAQ:NEO)

Bank of New York Mellon Corp lifted its position in NeoGenomics, Inc. (NASDAQ:NEO) by 1.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 849,752 shares of the medical research company’s stock after buying an additional 15,269 shares during the quarter. Bank of New York Mellon Corp’s holdings in NeoGenomics were worth $14,004,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB boosted its position in NeoGenomics by 2.8% in the 4th quarter. Nordea Investment Management AB now owns 77,534 shares of the medical research company’s stock valued at $1,301,000 after buying an additional 2,125 shares during the period. Geode Capital Management LLC raised its stake in shares of NeoGenomics by 1.2% in the third quarter. Geode Capital Management LLC now owns 3,051,806 shares of the medical research company’s stock valued at $45,022,000 after acquiring an additional 36,136 shares in the last quarter. Jennison Associates LLC boosted its holdings in NeoGenomics by 4.7% in the third quarter. Jennison Associates LLC now owns 1,276,468 shares of the medical research company’s stock valued at $18,828,000 after purchasing an additional 57,041 shares during the period. Algert Global LLC grew its stake in NeoGenomics by 204.3% during the 3rd quarter. Algert Global LLC now owns 79,983 shares of the medical research company’s stock worth $1,180,000 after purchasing an additional 53,700 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in NeoGenomics by 2.4% during the 4th quarter. Rhumbline Advisers now owns 389,003 shares of the medical research company’s stock worth $6,411,000 after purchasing an additional 9,098 shares during the period. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Needham & Company LLC decreased their price objective on NeoGenomics from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. The Goldman Sachs Group decreased their price target on shares of NeoGenomics from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Piper Sandler dropped their price objective on shares of NeoGenomics from $21.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Benchmark lowered shares of NeoGenomics from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, Bank of America lowered their target price on shares of 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.60.

NeoGenomics Trading Down 6.0 %

NASDAQ NEO opened at $10.23 on Thursday. The firm’s fifty day moving average price is $13.39 and its 200 day moving average price is $14.89. NeoGenomics, Inc. has a 12 month low of $8.98 and a 12 month high of $19.12. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.98 and a quick ratio of 1.91. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -16.50 and a beta of 1.28.

NeoGenomics (NASDAQ:NEO) last released 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). NeoGenomics had a negative net margin of 11.92% and a negative return on equity of 2.10%. The company had revenue of $172.00 million during the quarter, compared to analyst estimates of $173.40 million. On average, sell-side analysts expect that NeoGenomics, Inc. will post -0.2 earnings per share for the current fiscal 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.