Franklin Resources Inc. Decreases Position in NeoGenomics, Inc. (NASDAQ:NEO)

Franklin Resources Inc. cut its holdings in NeoGenomics, Inc. (NASDAQ:NEO - Free Report) by 28.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,461,406 shares of the medical research company's stock after selling 582,434 shares during the period. Franklin Resources Inc. owned about 1.14% of NeoGenomics worth $24,084,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of NeoGenomics in the 4th quarter valued at $6,273,000. Loomis Sayles & Co. L P lifted its position in NeoGenomics by 48.4% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,791,792 shares of the medical research company's stock valued at $29,528,000 after acquiring an additional 584,502 shares during the last quarter. Segall Bryant & Hamill LLC boosted its stake in NeoGenomics by 11.6% in the fourth quarter. Segall Bryant & Hamill LLC now owns 2,113,822 shares of the medical research company's stock valued at $34,836,000 after acquiring an additional 220,415 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of NeoGenomics by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 14,239,887 shares of the medical research company's stock worth $234,673,000 after purchasing an additional 195,793 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of NeoGenomics during the fourth quarter worth about $453,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

NeoGenomics Stock Performance

Shares of NEO stock traded up $0.42 during trading hours on Friday, reaching $9.32. 2,342,506 shares of the company's stock were exchanged, compared to its average volume of 937,425. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.98 and a quick ratio of 1.91. The company's 50 day moving average is $10.59 and its two-hundred day moving average is $13.78. The company has a market cap of $1.20 billion, a P/E ratio of -15.03 and a beta of 1.41. NeoGenomics, Inc. has a 1 year low of $8.05 and a 1 year high of $19.12.

NeoGenomics (NASDAQ:NEO - Get Free Report) last released its earnings results on Tuesday, February 18th. The medical research company reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.05). NeoGenomics had a negative net margin of 11.92% and a negative return on equity of 2.10%. The business had revenue of $172.00 million during the quarter, compared to analyst estimates of $173.40 million. Equities research analysts anticipate that NeoGenomics, Inc. will post -0.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NEO. The Goldman Sachs Group dropped their price target on NeoGenomics from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. Piper Sandler reduced their price target on shares of NeoGenomics from $21.00 to $18.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Bank of America lowered their price objective on shares of NeoGenomics from $19.00 to $16.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th. Benchmark cut shares of NeoGenomics from a "buy" rating to a "hold" rating in a report on Monday, January 13th. Finally, Needham & Company LLC lowered their price target on NeoGenomics from $19.00 to $18.00 and set a "buy" rating on the stock in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.