Truist Financial Corp Has $495,000 Stake in NeoGenomics, Inc. (NASDAQ:NEO)

Truist Financial Corp trimmed its position in NeoGenomics, Inc. (NASDAQ:NEO) by 5.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,037 shares of the medical research company’s stock after selling 1,757 shares during the quarter. Truist Financial Corp’s holdings in NeoGenomics were worth $495,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. FMR LLC raised its stake in shares of NeoGenomics by 7.6% in the third quarter. FMR LLC now owns 13,255 shares of the medical research company’s stock valued at $196,000 after purchasing an additional 931 shares in the last quarter. Blue Trust Inc. raised its stake in shares of NeoGenomics by 33.2% in the fourth quarter. Blue Trust Inc. now owns 4,421 shares of the medical research company’s stock valued at $73,000 after purchasing an additional 1,103 shares in the last quarter. KBC Group NV raised its stake in shares of NeoGenomics by 33.1% in the third quarter. KBC Group NV now owns 4,530 shares of the medical research company’s stock valued at $67,000 after purchasing an additional 1,127 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of NeoGenomics by 174.9% in the fourth quarter. Versant Capital Management Inc now owns 1,795 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 1,142 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of NeoGenomics by 2.8% in the fourth quarter. Nordea Investment Management AB now owns 77,534 shares of the medical research company’s stock valued at $1,301,000 after purchasing an additional 2,125 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

NeoGenomics Stock Performance

NeoGenomics stock opened at $9.58 on Tuesday. The stock has a 50-day simple moving average of $14.35 and a 200 day simple moving average of $15.19. The company has a quick ratio of 1.91, a current ratio of 1.98 and a debt-to-equity ratio of 0.38. NeoGenomics, Inc. has a 12-month low of $9.56 and a 12-month high of $19.11. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -15.45 and a beta of 1.23.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings results on Tuesday, February 18th. The medical research company reported ($0.02) earnings per share (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 the consensus estimate of $173.40 million. On average, research analysts anticipate that NeoGenomics, Inc. will post -0.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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