Jennison Associates LLC Increases Position in NeoGenomics, Inc. (NASDAQ:NEO)

Jennison Associates LLC raised its holdings in shares of NeoGenomics, Inc. (NASDAQ:NEO - Free Report) by 4.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,276,468 shares of the medical research company's stock after buying an additional 57,041 shares during the period. Jennison Associates LLC owned about 0.99% of NeoGenomics worth $18,828,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Blue Trust Inc. raised its holdings in shares of NeoGenomics by 107.2% in the 2nd quarter. Blue Trust Inc. now owns 2,331 shares of the medical research company's stock valued at $32,000 after purchasing an additional 1,206 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in NeoGenomics during the 2nd quarter worth $57,000. KBC Group NV raised 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 worth $67,000 after buying an additional 1,127 shares during the last quarter. Banque Cantonale Vaudoise raised its stake in NeoGenomics by 10.2% in the 2nd quarter. Banque Cantonale Vaudoise now owns 17,575 shares of the medical research company's stock worth $244,000 after acquiring an additional 1,633 shares during the last quarter. Finally, Gabelli Funds LLC acquired a new position in shares of NeoGenomics in the first quarter valued at about $283,000. Institutional investors own 98.50% of the company's stock.

NeoGenomics Stock Performance

NASDAQ NEO opened at $16.39 on Friday. NeoGenomics, Inc. has a fifty-two week low of $12.77 and a fifty-two week high of $21.22. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.99 and a quick ratio of 1.91. The stock's fifty day moving average is $14.63 and its two-hundred day moving average is $14.83.

NeoGenomics (NASDAQ:NEO - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $167.80 million during the quarter, compared to analysts' expectations of $167.00 million. During the same period last year, the business earned ($0.06) earnings per share. NeoGenomics's revenue was up 10.5% compared to the same quarter last year. Equities analysts forecast that NeoGenomics, Inc. will post -0.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NEO has been the subject of several recent research reports. Needham & Company LLC reissued a "buy" rating and set a $19.00 target price on shares of NeoGenomics in a report on Wednesday, November 6th. Stephens reissued an "overweight" rating and issued a $19.00 price objective on shares of NeoGenomics in a report on Tuesday, July 30th. Finally, Benchmark reissued a "buy" rating and issued a $18.00 price target on shares of NeoGenomics in a research note on Tuesday, September 24th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $20.25.

Insider Activity at NeoGenomics

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

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.