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

Franklin Resources Inc. increased its holdings in NeoGenomics, Inc. (NASDAQ:NEO) by 2.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 2,043,840 shares of the medical research company’s stock after purchasing an additional 39,740 shares during the quarter. Franklin Resources Inc.’s holdings in NeoGenomics were worth $28,225,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. State Street Corp increased its position in shares of NeoGenomics by 1.6% during the third quarter. State Street Corp now owns 4,958,582 shares of the medical research company’s stock valued at $73,139,000 after acquiring an additional 80,449 shares during the last quarter. First Light Asset Management LLC boosted its position in shares of NeoGenomics by 14.5% during the 2nd quarter. First Light Asset Management LLC now owns 3,782,561 shares of the medical research company’s stock worth $52,464,000 after purchasing an additional 480,396 shares during the period. Dimensional Fund Advisors LP increased its holdings in NeoGenomics by 7.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,324,624 shares of the medical research company’s stock valued at $46,108,000 after purchasing an additional 217,687 shares during the last quarter. American Century Companies Inc. raised its position in NeoGenomics by 5.4% in the second quarter. American Century Companies Inc. now owns 3,261,756 shares of the medical research company’s stock valued at $45,241,000 after purchasing an additional 167,145 shares during the period. Finally, Geode Capital Management LLC raised its position in NeoGenomics by 1.2% in the third quarter. Geode Capital Management LLC now owns 3,051,806 shares of the medical research company’s stock valued at $45,022,000 after purchasing an additional 36,136 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

Insider Activity

In other news, General Counsel Alicia C. Olivo sold 5,175 shares of the company’s stock in a transaction 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 completion of the transaction, the general counsel now 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 filing with the SEC, which is accessible through this link. Company insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NEO. Bank of America raised their price target on NeoGenomics from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Jefferies Financial Group began coverage on NeoGenomics in a research report on Tuesday, December 10th. They issued a “buy” rating and a $22.00 target price for the company. Benchmark reiterated a “buy” rating and set a $18.00 price target on shares of NeoGenomics in a research note on Tuesday, September 24th. Finally, Needham & Company LLC restated a “buy” rating and issued a $19.00 price objective on shares of NeoGenomics in a report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.30.

NeoGenomics Trading Down 6.0 %

NASDAQ NEO opened at $16.49 on Thursday. NeoGenomics, Inc. has a 52 week low of $12.77 and a 52 week high of $21.22. The firm has a 50 day moving average of $15.63 and a two-hundred day moving average of $15.21. 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 stock has a market capitalization of $2.12 billion, a PE ratio of -27.03 and a beta of 1.24.

NeoGenomics (NASDAQ:NEO) last issued its earnings results on Tuesday, November 5th. The medical research company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $167.00 million. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. The company’s revenue was up 10.5% compared to the same quarter last year. As a group, research analysts expect that NeoGenomics, Inc. will post -0.16 EPS for the current fiscal year.

NeoGenomics 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.