Jennison Associates LLC Buys 89,473 Shares of NeoGenomics, Inc. (NASDAQ:NEO)

Jennison Associates LLC lifted its stake in NeoGenomics, Inc. (NASDAQ:NEO) by 17.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 591,556 shares of the medical research company’s stock after buying an additional 89,473 shares during the quarter. Jennison Associates LLC owned about 0.46% of NeoGenomics worth $9,571,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in NEO. BluePath Capital Management LLC bought a new stake in NeoGenomics during the 3rd quarter valued at approximately $30,000. WINTON GROUP Ltd bought a new stake in NeoGenomics during the 3rd quarter valued at approximately $133,000. Corton Capital Inc. bought a new stake in NeoGenomics during the 3rd quarter valued at approximately $141,000. Aigen Investment Management LP bought a new stake in NeoGenomics during the 3rd quarter valued at approximately $163,000. Finally, Mackenzie Financial Corp bought a new stake in NeoGenomics during the 3rd quarter valued at approximately $199,000. Institutional investors own 98.50% of the company’s stock.

NeoGenomics Trading Up 2.1 %

NEO opened at $14.14 on Friday. The business has a fifty day moving average of $15.04 and a 200 day moving average of $15.89. NeoGenomics, Inc. has a 52-week low of $11.03 and a 52-week high of $21.22. The company has a debt-to-equity ratio of 0.57, a quick ratio of 5.95 and a current ratio of 6.20.

NeoGenomics (NASDAQ:NEO) last issued its earnings results on Tuesday, February 20th. The medical research company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. The business had revenue of $155.55 million during the quarter, compared to analyst estimates of $152.90 million. NeoGenomics had a negative return on equity of 4.13% and a negative net margin of 14.87%. As a group, equities analysts predict that NeoGenomics, Inc. will post -0.2 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. BTIG Research decreased their target price on NeoGenomics from $25.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, December 29th. Piper Sandler raised their price target on NeoGenomics from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, February 26th. Needham & Company LLC raised their price target on NeoGenomics from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. William Blair restated an “outperform” rating on shares of NeoGenomics in a report on Wednesday, February 21st. Finally, The Goldman Sachs Group lifted their target price on NeoGenomics from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.50.

Insider Buying and Selling at NeoGenomics

In other NeoGenomics news, General Counsel Alicia C. Olivo sold 2,587 shares of NeoGenomics stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $14.96, for a total transaction of $38,701.52. Following the completion of the sale, the general counsel now directly owns 34,866 shares of the company’s stock, valued at approximately $521,595.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by corporate insiders.

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.