Fernwood Investment Management LLC Decreases Position in NeoGenomics, Inc. (NASDAQ:NEO)

Fernwood Investment Management LLC lessened its holdings in NeoGenomics, Inc. (NASDAQ:NEO) by 2.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 76,500 shares of the medical research company’s stock after selling 1,800 shares during the period. Fernwood Investment Management LLC’s holdings in NeoGenomics were worth $1,238,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NEO. Brown Advisory Inc. increased its stake in shares of NeoGenomics by 25.0% during the third quarter. Brown Advisory Inc. now owns 8,246,202 shares of the medical research company’s stock worth $101,428,000 after acquiring an additional 1,651,717 shares during the period. Schroder Investment Management Group boosted its holdings in NeoGenomics by 26.7% during the third quarter. Schroder Investment Management Group now owns 2,513,307 shares of the medical research company’s stock worth $30,914,000 after buying an additional 529,178 shares in the last quarter. Jennison Associates LLC purchased a new stake in NeoGenomics during the third quarter worth about $6,176,000. Fred Alger Management LLC boosted its holdings in NeoGenomics by 36.9% during the third quarter. Fred Alger Management LLC now owns 1,331,700 shares of the medical research company’s stock worth $16,380,000 after buying an additional 359,120 shares in the last quarter. Finally, Emerald Advisers LLC boosted its holdings in NeoGenomics by 16.4% during the third quarter. Emerald Advisers LLC now owns 1,927,074 shares of the medical research company’s stock worth $23,703,000 after buying an additional 270,855 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, General Counsel Alicia C. Olivo sold 2,587 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $14.96, for a total transaction of $38,701.52. Following the completion of the transaction, the general counsel now owns 34,866 shares of the company’s stock, valued at $521,595.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently commented on NEO. The Goldman Sachs Group boosted their price objective on shares of NeoGenomics from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Piper Sandler upped their price target on shares of NeoGenomics from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, February 26th. Needham & Company LLC upped their price target on shares of NeoGenomics from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Finally, William Blair reaffirmed an “outperform” rating on shares of NeoGenomics in a report on Wednesday, February 21st. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, NeoGenomics has an average rating of “Moderate Buy” and an average target price of $19.50.

NeoGenomics Trading Up 7.6 %

Shares of NEO traded up $1.08 on Monday, hitting $15.22. 2,380,812 shares of the stock traded hands, compared to its average volume of 912,010. The company has a quick ratio of 5.95, a current ratio of 6.20 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $1.94 billion, a P/E ratio of -21.74 and a beta of 1.10. The stock’s 50 day moving average is $15.04 and its two-hundred day moving average is $15.94. NeoGenomics, Inc. has a 1 year low of $11.03 and a 1 year high of $21.22.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings data on Tuesday, February 20th. The medical research company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.05. NeoGenomics had a negative net margin of 14.87% and a negative return on equity of 4.13%. The business had revenue of $155.55 million for the quarter, compared to the consensus estimate of $152.90 million. As a group, sell-side analysts predict that NeoGenomics, Inc. will post -0.2 earnings per share for the current year.

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.