Franklin Resources Inc. Has $28.23 Million Holdings in NeoGenomics, Inc. (NASDAQ:NEO)

Franklin Resources Inc. lifted its stake in shares of NeoGenomics, Inc. (NASDAQ:NEO - Free Report) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,043,840 shares of the medical research company's stock after acquiring an additional 39,740 shares during the quarter. Franklin Resources Inc. owned 1.59% of NeoGenomics worth $28,225,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of NEO. Blue Trust Inc. raised its holdings in shares of NeoGenomics by 107.2% during the second quarter. Blue Trust Inc. now owns 2,331 shares of the medical research company's stock valued at $32,000 after acquiring an additional 1,206 shares during the period. Quarry LP purchased a new position in NeoGenomics during the 3rd quarter worth approximately $40,000. Canada Pension Plan Investment Board acquired a new stake in NeoGenomics during the 2nd quarter valued at $57,000. KBC Group NV lifted its holdings in shares of NeoGenomics by 33.1% in the third quarter. KBC Group NV now owns 4,530 shares of the medical research company's stock valued at $67,000 after purchasing an additional 1,127 shares in the last quarter. Finally, FMR LLC boosted its position in shares of NeoGenomics by 7.6% in the third quarter. FMR LLC now owns 13,255 shares of the medical research company's stock worth $196,000 after buying an additional 931 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

NeoGenomics Stock Performance

Shares of NeoGenomics stock traded down $0.09 during midday trading on Thursday, hitting $16.40. The company had a trading volume of 820,755 shares, compared to its average volume of 798,367. NeoGenomics, Inc. has a 1-year low of $12.77 and a 1-year high of $21.22. The business's 50 day simple moving average is $15.63 and its two-hundred day simple moving average is $15.21. The stock has a market cap of $2.11 billion, a PE ratio of -26.88 and a beta of 1.24. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.99 and a quick ratio of 1.91.

NeoGenomics (NASDAQ:NEO - Get Free Report) last released its earnings results on Tuesday, November 5th. The medical research company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.04. NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. The business had revenue of $167.80 million during the quarter, compared to analysts' expectations of $167.00 million. During the same quarter last year, the company earned ($0.06) earnings per share. The firm's revenue was up 10.5% on a year-over-year basis. As a group, equities analysts predict that NeoGenomics, Inc. will post -0.16 EPS for the current fiscal year.

Insider Transactions at NeoGenomics

In other NeoGenomics news, General Counsel Alicia C. Olivo sold 5,175 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $15.36, for a total transaction of $79,488.00. Following the completion of the transaction, the general counsel now directly owns 37,129 shares in the company, valued at $570,301.44. This represents a 12.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NEO has been the subject of a number of research analyst reports. Jefferies Financial Group started coverage on shares of NeoGenomics in a research report on Tuesday, December 10th. They issued a "buy" rating and a $22.00 price target for the company. Benchmark reiterated a "buy" rating and issued a $18.00 target price on shares of NeoGenomics in a research report on Tuesday, September 24th. Needham & Company LLC reissued a "buy" rating and set a $19.00 target price on shares of NeoGenomics in a research note on Wednesday, November 6th. Finally, Bank of America upped their price target on shares of NeoGenomics from $18.00 to $19.00 and gave the stock a "neutral" rating in a research note on Friday, December 13th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, NeoGenomics currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.30.

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.