NeoGenomics, Inc. (NEO) Position Increased by Granahan Investment Management Inc. MA

Granahan Investment Management Inc. MA boosted its holdings in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 8.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,213,014 shares of the medical research company’s stock after purchasing an additional 97,040 shares during the quarter. NeoGenomics comprises approximately 1.0% of Granahan Investment Management Inc. MA’s holdings, making the stock its 27th largest position. Granahan Investment Management Inc. MA owned about 1.49% of NeoGenomics worth $15,903,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in NEO. First Light Asset Management LLC boosted its stake in NeoGenomics by 23.7% during the 1st quarter. First Light Asset Management LLC now owns 4,760,332 shares of the medical research company’s stock valued at $38,844,000 after purchasing an additional 912,730 shares during the period. Franklin Resources Inc. raised its holdings in NeoGenomics by 101.5% in the 1st quarter. Franklin Resources Inc. now owns 1,557,393 shares of the medical research company’s stock valued at $12,708,000 after acquiring an additional 784,493 shares in the last quarter. Gabelli Funds LLC raised its holdings in NeoGenomics by 61.2% in the 1st quarter. Gabelli Funds LLC now owns 768,000 shares of the medical research company’s stock valued at $6,267,000 after acquiring an additional 291,600 shares in the last quarter. RMB Capital Management LLC raised its holdings in NeoGenomics by 50.0% in the 1st quarter. RMB Capital Management LLC now owns 808,306 shares of the medical research company’s stock valued at $6,596,000 after acquiring an additional 269,414 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its holdings in NeoGenomics by 214.4% in the 1st quarter. Gamco Investors INC. ET AL now owns 342,379 shares of the medical research company’s stock valued at $2,794,000 after acquiring an additional 233,479 shares in the last quarter. Hedge funds and other institutional investors own 81.07% of the company’s stock.

In other news, insider Robert J. Shovlin sold 12,941 shares of the stock in a transaction that occurred on Friday, June 29th. The stock was sold at an average price of $13.12, for a total value of $169,785.92. Following the completion of the transaction, the insider now directly owns 39,884 shares of the company’s stock, valued at approximately $523,278.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Steven C. Jones sold 89,688 shares of the stock in a transaction that occurred on Friday, June 22nd. The stock was sold at an average price of $14.04, for a total value of $1,259,219.52. Following the completion of the transaction, the insider now directly owns 241,815 shares of the company’s stock, valued at $3,395,082.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 511,041 shares of company stock valued at $7,038,207. 12.20% of the stock is currently owned by insiders.

Several research firms have commented on NEO. Zacks Investment Research cut NeoGenomics from a “hold” rating to a “sell” rating in a report on Thursday, July 19th. Stephens reaffirmed a “buy” rating and issued a $15.00 price target on shares of NeoGenomics in a report on Tuesday, June 26th. BTIG Research reaffirmed a “buy” rating and issued a $15.00 price target on shares of NeoGenomics in a report on Thursday, June 21st. BidaskClub cut NeoGenomics from a “strong-buy” rating to a “buy” rating in a report on Friday, August 10th. Finally, Leerink Swann began coverage on NeoGenomics in a report on Tuesday, August 21st. They issued an “outperform” rating and a $18.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $18.63.

Shares of NEO opened at $13.89 on Friday. NeoGenomics, Inc. has a 1 year low of $7.08 and a 1 year high of $15.00. The company has a quick ratio of 1.59, a current ratio of 1.74 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $1.11 billion, a PE ratio of 193.43 and a beta of 0.58.

NeoGenomics (NASDAQ:NEO) last issued its earnings results on Tuesday, July 24th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.01. NeoGenomics had a negative return on equity of 0.36% and a negative net margin of 0.98%. The business had revenue of $67.70 million during the quarter, compared to analysts’ expectations of $66.40 million. During the same period in the prior year, the firm posted $0.04 EPS. NeoGenomics’s quarterly revenue was up 8.7% compared to the same quarter last year. equities research analysts expect that NeoGenomics, Inc. will post 0.08 earnings per share for the current year.

About NeoGenomics

NeoGenomics, Inc, together with its subsidiaries, operates a network of cancer-focused genetic testing laboratories in the United States. It operates through Clinical Services and Pharma Services segments. The company laboratories provide genetic and molecular testing services to hospitals, pathologists, oncologists, urologists, other clinicians and researchers, pharmaceutical firms, and other clinical laboratories.

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Institutional Ownership by Quarter for NeoGenomics (NASDAQ:NEO)

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