Franklin Resources Inc. Has $24.08 Million Stock Holdings in NeoGenomics, Inc. (NASDAQ:NEO)

Franklin Resources Inc. trimmed its stake in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 28.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,461,406 shares of the medical research company’s stock after selling 582,434 shares during the period. Franklin Resources Inc.’s holdings in NeoGenomics were worth $24,084,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. SBI Securities Co. Ltd. acquired a new position in NeoGenomics in the 4th quarter worth approximately $26,000. Versant Capital Management Inc lifted its holdings 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. Quarry LP purchased a new position in shares of NeoGenomics during the third quarter valued at $40,000. Smartleaf Asset Management LLC raised its position in NeoGenomics by 203.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,156 shares of the medical research company’s stock valued at $70,000 after buying an additional 2,787 shares during the period. Finally, Blue Trust Inc. raised its position in NeoGenomics by 33.2% during the fourth quarter. Blue Trust Inc. now owns 4,421 shares of the medical research company’s stock valued at $73,000 after buying an additional 1,103 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

NeoGenomics Trading Up 0.7 %

Shares of NASDAQ:NEO opened at $8.78 on Monday. The company has a current ratio of 1.98, a quick ratio of 1.91 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $1.13 billion, a PE ratio of -14.16 and a beta of 1.41. NeoGenomics, Inc. has a 1 year low of $8.27 and a 1 year high of $19.12. The firm has a fifty day moving average price of $11.39 and a 200 day moving average price of $14.09.

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 the consensus estimate of $0.03 by ($0.05). The company had revenue of $172.00 million for the quarter, compared to the consensus estimate of $173.40 million. NeoGenomics had a negative return on equity of 2.10% and a negative net margin of 11.92%. Analysts expect that NeoGenomics, Inc. will post -0.2 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on NEO. Benchmark cut NeoGenomics from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Piper Sandler lowered their price objective on shares of NeoGenomics from $21.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Needham & Company LLC cut their target price on shares of NeoGenomics from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Bank of America decreased their target price on shares of NeoGenomics from $19.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Finally, The Goldman Sachs Group dropped their price target on shares of NeoGenomics from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.60.

NeoGenomics 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.