Principal Financial Group Inc. Sells 26,000 Shares of NeoGenomics, Inc. (NASDAQ:NEO)

Principal Financial Group Inc. lessened its holdings in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 4.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 604,394 shares of the medical research company’s stock after selling 26,000 shares during the quarter. Principal Financial Group Inc.’s holdings in NeoGenomics were worth $8,915,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Fernwood Investment Management LLC grew its holdings in shares of NeoGenomics by 1.0% during the third quarter. Fernwood Investment Management LLC now owns 89,500 shares of the medical research company’s stock valued at $1,320,000 after buying an additional 900 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in NeoGenomics by 5.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 45,104 shares of the medical research company’s stock worth $665,000 after purchasing an additional 2,166 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of NeoGenomics by 42.3% in the third quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company’s stock valued at $46,000 after purchasing an additional 987 shares in the last quarter. Creative Planning boosted its position in shares of NeoGenomics by 42.3% during the third quarter. Creative Planning now owns 23,547 shares of the medical research company’s stock valued at $347,000 after buying an additional 7,004 shares during the last quarter. Finally, Inspire Investing LLC grew its holdings in NeoGenomics by 12.0% during the third quarter. Inspire Investing LLC now owns 28,094 shares of the medical research company’s stock worth $414,000 after buying an additional 3,006 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

NeoGenomics Price Performance

NeoGenomics stock opened at $15.01 on Tuesday. The company has a current ratio of 1.99, a quick ratio of 1.91 and a debt-to-equity ratio of 0.37. The business’s 50 day simple moving average is $14.67 and its 200 day simple moving average is $14.82. NeoGenomics, Inc. has a 12 month low of $12.77 and a 12 month high of $21.22. The company has a market cap of $1.93 billion, a price-to-earnings ratio of -24.61 and a beta of 1.19.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results on Tuesday, November 5th. The medical research company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. The company had revenue of $167.80 million during the quarter, compared to the consensus estimate of $167.00 million. NeoGenomics had a negative return on equity of 2.11% and a negative net margin of 12.07%. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.06) EPS. Sell-side analysts forecast that NeoGenomics, Inc. will post -0.17 EPS for the current year.

Analyst Upgrades and Downgrades

NEO has been the topic of a number of analyst reports. Benchmark reaffirmed a “buy” rating and set a $18.00 price objective on shares of NeoGenomics in a report on Tuesday, September 24th. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price objective on shares of NeoGenomics in a research note on Wednesday, November 6th. Finally, Stephens restated an “overweight” rating and issued a $19.00 target price on shares of NeoGenomics in a research note on Tuesday, July 30th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, NeoGenomics presently has a consensus rating of “Buy” and an average price target of $20.25.

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.