Royce & Associates LP Has $9.43 Million Stock Holdings in NeoGenomics, Inc. (NASDAQ:NEO)

Royce & Associates LP increased its stake in NeoGenomics, Inc. (NASDAQ:NEO) by 3.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 639,476 shares of the medical research company’s stock after acquiring an additional 19,780 shares during the quarter. Royce & Associates LP’s holdings in NeoGenomics were worth $9,432,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Edgestream Partners L.P. acquired a new position in shares of NeoGenomics in the 1st quarter worth approximately $1,894,000. Bellevue Group AG acquired a new position in NeoGenomics in the first quarter valued at $14,872,000. First Light Asset Management LLC lifted its holdings in NeoGenomics by 14.5% in the second quarter. First Light Asset Management LLC now owns 3,782,561 shares of the medical research company’s stock valued at $52,464,000 after buying an additional 480,396 shares during the period. Blue Trust Inc. boosted its position in NeoGenomics by 42.3% during the third quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company’s stock valued at $46,000 after acquiring an additional 987 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in NeoGenomics by 152.6% during the 2nd quarter. Sei Investments Co. now owns 263,761 shares of the medical research company’s stock worth $3,658,000 after acquiring an additional 159,350 shares during the period. 98.50% of the stock is currently owned by institutional investors.

NeoGenomics Price Performance

Shares of NASDAQ:NEO opened at $15.04 on Monday. NeoGenomics, Inc. has a twelve month low of $12.77 and a twelve month high of $21.22. The stock’s 50 day moving average is $14.67 and its 200-day moving average is $14.82. The company has a quick ratio of 1.91, a current ratio of 1.99 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of -24.66 and a beta of 1.19.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings data on Tuesday, November 5th. The medical research company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. The firm had revenue of $167.80 million for the quarter, compared to the consensus estimate of $167.00 million. NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. The business’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.06) earnings per share. Sell-side analysts forecast that NeoGenomics, Inc. will post -0.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $19.00 price objective on shares of NeoGenomics in a research note on Wednesday, November 6th. Benchmark restated a “buy” rating and set a $18.00 price target on shares of NeoGenomics in a report on Tuesday, September 24th. Finally, Stephens reaffirmed an “overweight” rating and set a $19.00 price objective on shares of NeoGenomics in a research report on Tuesday, July 30th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $20.25.

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.