Jennison Associates LLC Purchases 238,288 Shares of NeoGenomics, Inc. (NASDAQ:NEO)

Jennison Associates LLC grew its holdings in NeoGenomics, Inc. (NASDAQ:NEO) by 18.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,514,756 shares of the medical research company’s stock after purchasing an additional 238,288 shares during the period. Jennison Associates LLC owned about 1.18% of NeoGenomics worth $24,963,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc raised its holdings in shares of NeoGenomics by 174.9% during 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 during the last quarter. Quarry LP bought a new position in shares of NeoGenomics during the 3rd quarter valued at $40,000. Blue Trust Inc. boosted its stake in shares of NeoGenomics by 42.3% in the 3rd quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company’s stock worth $46,000 after buying an additional 987 shares during the last quarter. KBC Group NV grew its holdings 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 worth $67,000 after acquiring an additional 1,127 shares during the period. Finally, FMR LLC grew its holdings 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 worth $196,000 after acquiring an additional 931 shares during the period. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Insiders Place Their Bets

In other news, General Counsel Alicia C. Olivo sold 5,175 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $15.36, for a total value of $79,488.00. Following the completion of the sale, the general counsel now directly owns 37,129 shares of the company’s stock, valued at $570,301.44. This trade represents a 12.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Jefferies Financial Group began coverage on NeoGenomics in a research report on Tuesday, December 10th. They issued a “buy” rating and a $22.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and issued a $19.00 price objective on shares of NeoGenomics in a report on Friday, January 10th. Benchmark cut shares of NeoGenomics from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Bank of America lifted their price target on shares of NeoGenomics from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Finally, The Goldman Sachs Group reduced 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. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, NeoGenomics has an average rating of “Moderate Buy” and a consensus target price of $20.20.

NeoGenomics Stock Performance

NASDAQ NEO opened at $14.09 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.99 and a quick ratio of 1.91. NeoGenomics, Inc. has a 1-year low of $12.13 and a 1-year high of $19.11. The business has a 50 day simple moving average of $16.33 and a two-hundred day simple moving average of $15.69. The stock has a market capitalization of $1.81 billion, a PE ratio of -23.10 and a beta of 1.23.

NeoGenomics (NASDAQ:NEO) last posted its earnings results on Tuesday, November 5th. The medical research company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The firm had revenue of $167.80 million during the quarter, compared to analyst estimates of $167.00 million. NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. NeoGenomics’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.06) earnings per share. On average, research analysts predict that NeoGenomics, Inc. will post -0.16 EPS for the current fiscal year.

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.