Allspring Global Investments Holdings LLC Lowers Holdings in NeoGenomics, Inc. (NASDAQ:NEO)

Allspring Global Investments Holdings LLC trimmed its position in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 4.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,456 shares of the medical research company’s stock after selling 806 shares during the period. Allspring Global Investments Holdings LLC’s holdings in NeoGenomics were worth $315,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Brown Advisory Inc. raised its stake in shares of NeoGenomics by 25.0% in the third quarter. Brown Advisory Inc. now owns 8,246,202 shares of the medical research company’s stock valued at $101,428,000 after acquiring an additional 1,651,717 shares in the last quarter. Schroder Investment Management Group raised its stake in shares of NeoGenomics by 26.7% in the third quarter. Schroder Investment Management Group now owns 2,513,307 shares of the medical research company’s stock valued at $30,914,000 after acquiring an additional 529,178 shares in the last quarter. Emerald Advisers LLC raised its stake in shares of NeoGenomics by 16.4% in the third quarter. Emerald Advisers LLC now owns 1,927,074 shares of the medical research company’s stock valued at $23,703,000 after acquiring an additional 270,855 shares in the last quarter. Emerald Mutual Fund Advisers Trust raised its stake in shares of NeoGenomics by 13.3% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 1,557,895 shares of the medical research company’s stock valued at $19,162,000 after acquiring an additional 183,112 shares in the last quarter. Finally, Fred Alger Management LLC raised its stake in NeoGenomics by 36.9% in the third quarter. Fred Alger Management LLC now owns 1,331,700 shares of the medical research company’s stock valued at $16,380,000 after buying an additional 359,120 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

NeoGenomics Price Performance

NEO stock opened at $14.14 on Friday. The firm has a 50 day moving average of $15.04 and a 200-day moving average of $15.89. NeoGenomics, Inc. has a 12-month low of $11.03 and a 12-month high of $21.22. The company has a current ratio of 6.20, a quick ratio of 5.95 and a debt-to-equity ratio of 0.57. The company has a market cap of $1.81 billion, a price-to-earnings ratio of -20.20 and a beta of 1.10.

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

Insider Activity

In related news, General Counsel Alicia C. Olivo sold 2,587 shares of NeoGenomics stock in a transaction that occurred 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 transaction, the general counsel now directly owns 34,866 shares in the company, valued at approximately $521,595.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. The Goldman Sachs Group raised their price target on NeoGenomics from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. BTIG Research lowered their price target on NeoGenomics from $25.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, December 29th. TD Cowen lowered their price target on NeoGenomics from $22.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday, December 29th. Piper Sandler lifted their price objective on NeoGenomics from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, February 26th. Finally, William Blair reaffirmed an “outperform” rating on shares of NeoGenomics in a report on Wednesday, February 21st. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $19.50.

About NeoGenomics

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.