Proficio Capital Partners LLC Makes New $372,000 Investment in NeoGenomics, Inc. (NASDAQ:NEO)

Proficio Capital Partners LLC acquired a new position in shares of NeoGenomics, Inc. (NASDAQ:NEO) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 22,561 shares of the medical research company’s stock, valued at approximately $372,000.

Other hedge funds have also modified their holdings of the company. Natixis Advisors LLC increased its holdings in NeoGenomics by 54.1% during the third quarter. Natixis Advisors LLC now owns 33,982 shares of the medical research company’s stock worth $501,000 after buying an additional 11,936 shares during the last quarter. Intech Investment Management LLC boosted its position in NeoGenomics by 55.1% during the third quarter. Intech Investment Management LLC now owns 46,984 shares of the medical research company’s stock worth $693,000 after purchasing an additional 16,684 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of NeoGenomics by 5.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,134,651 shares of the medical research company’s stock valued at $16,736,000 after purchasing an additional 57,677 shares during the last quarter. Algert Global LLC raised its position in shares of NeoGenomics by 204.3% in the third quarter. Algert Global LLC now owns 79,983 shares of the medical research company’s stock valued at $1,180,000 after purchasing an additional 53,700 shares during the period. Finally, Loomis Sayles & Co. L P acquired a new stake in shares of NeoGenomics during the 3rd quarter worth about $17,807,000. 98.50% of the stock is currently owned by institutional investors.

NeoGenomics Stock Performance

NeoGenomics stock opened at $9.96 on Wednesday. The business’s 50-day moving average price is $12.21 and its two-hundred day moving average price is $14.47. NeoGenomics, Inc. has a 12-month low of $8.98 and a 12-month high of $19.12. The company has a quick ratio of 1.91, a current ratio of 1.98 and a debt-to-equity ratio of 0.38. The stock has a market cap of $1.28 billion, a PE ratio of -16.06 and a beta of 1.28.

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

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Piper Sandler decreased their price target on shares of NeoGenomics from $21.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Bank of America cut their target price on NeoGenomics from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Jefferies Financial Group initiated coverage on NeoGenomics in a report on Tuesday, December 10th. They set a “buy” rating and a $22.00 target price on the stock. Benchmark downgraded NeoGenomics from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Needham & Company LLC decreased their target price 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. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.60.

NeoGenomics Company 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.