Point72 Asset Management L.P. Reduces Stock Holdings in NeoGenomics, Inc. (NASDAQ:NEO)

Point72 Asset Management L.P. lowered its position in NeoGenomics, Inc. (NASDAQ:NEO - Free Report) by 53.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,031,608 shares of the medical research company's stock after selling 1,165,943 shares during the period. Point72 Asset Management L.P. owned approximately 0.81% of NeoGenomics worth $14,308,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in NeoGenomics during the 4th quarter worth approximately $14,512,000. TD Asset Management Inc lifted its stake in NeoGenomics by 14.3% during the 4th quarter. TD Asset Management Inc now owns 184,000 shares of the medical research company's stock valued at $2,977,000 after acquiring an additional 23,000 shares during the period. Allianz Asset Management GmbH lifted its stake in NeoGenomics by 23.8% during the 4th quarter. Allianz Asset Management GmbH now owns 284,394 shares of the medical research company's stock valued at $4,601,000 after acquiring an additional 54,669 shares during the period. First Light Asset Management LLC lifted its stake in NeoGenomics by 29.6% during the 4th quarter. First Light Asset Management LLC now owns 3,926,756 shares of the medical research company's stock valued at $63,535,000 after acquiring an additional 897,843 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in NeoGenomics by 27.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,434 shares of the medical research company's stock valued at $136,000 after acquiring an additional 1,791 shares during the period. Hedge funds and other institutional investors own 98.50% of the company's stock.

Wall Street Analysts Forecast Growth

NEO has been the subject of several research reports. Benchmark restated a "buy" rating and set a $18.00 price objective on shares of NeoGenomics in a research note on Tuesday, September 24th. Needham & Company LLC restated a "buy" rating and set a $19.00 price objective on shares of NeoGenomics in a research note on Wednesday, September 25th. Finally, Stephens restated an "overweight" rating and set a $19.00 price objective on shares of NeoGenomics in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, NeoGenomics presently has an average rating of "Moderate Buy" and a consensus price target of $19.89.

NeoGenomics Stock Performance

Shares of NEO traded down $0.94 during trading hours on Tuesday, hitting $13.81. The stock had a trading volume of 1,443,592 shares, compared to its average volume of 818,207. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.93 and a current ratio of 2.01. The firm has a 50-day moving average price of $16.06 and a 200 day moving average price of $14.92. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of -20.97 and a beta of 1.19. NeoGenomics, Inc. has a fifty-two week low of $11.03 and a fifty-two week high of $21.22.

NeoGenomics (NASDAQ:NEO - Get Free Report) last posted its quarterly earnings data on Monday, July 29th. The medical research company reported $0.03 earnings per share for the quarter. The company had revenue of $164.50 million during the quarter, compared to analysts' expectations of $161.82 million. NeoGenomics had a negative net margin of 12.50% and a negative return on equity of 2.72%. The firm's revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.09) earnings per share. As a group, research analysts anticipate that NeoGenomics, Inc. will post -0.22 EPS for the current 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.