Victory Capital Management Inc. Sells 2,071 Shares of NeoGenomics, Inc. (NASDAQ:NEO)

Victory Capital Management Inc. trimmed its position in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 7.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,403 shares of the medical research company’s stock after selling 2,071 shares during the period. Victory Capital Management Inc.’s holdings in NeoGenomics were worth $360,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of NEO. First Light Asset Management LLC grew its stake in shares of NeoGenomics by 14.5% in the 2nd quarter. First Light Asset Management LLC now owns 3,782,561 shares of the medical research company’s stock worth $52,464,000 after buying an additional 480,396 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of NeoGenomics by 7.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,324,624 shares of the medical research company’s stock worth $46,108,000 after purchasing an additional 217,687 shares during the period. American Century Companies Inc. boosted its stake in shares of NeoGenomics by 5.4% during the 2nd quarter. American Century Companies Inc. now owns 3,261,756 shares of the medical research company’s stock worth $45,241,000 after purchasing an additional 167,145 shares during the period. Sei Investments Co. boosted its stake in shares of NeoGenomics by 152.6% during the 2nd quarter. Sei Investments Co. now owns 263,761 shares of the medical research company’s stock worth $3,658,000 after purchasing an additional 159,350 shares during the period. Finally, Candriam S.C.A. boosted its stake in shares of NeoGenomics by 29.9% during the 2nd quarter. Candriam S.C.A. now owns 487,026 shares of the medical research company’s stock worth $6,755,000 after purchasing an additional 112,009 shares during the period. 98.50% of the stock is currently owned by institutional investors.

NeoGenomics Price Performance

NeoGenomics stock opened at $17.73 on Friday. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of -29.07 and a beta of 1.19. 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 $12.77 and a 1 year high of $21.22. The firm has a 50-day moving average of $14.75 and a two-hundred day moving average of $14.91.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price target on shares of NeoGenomics in a research note on Wednesday, November 6th. Benchmark reaffirmed a “buy” rating and set a $18.00 price target on shares of NeoGenomics in a research note on Tuesday, September 24th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $20.25.

Insider Activity

In related news, General Counsel Alicia C. Olivo sold 5,175 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $15.36, for a total transaction of $79,488.00. Following the completion of the transaction, the general counsel now owns 37,129 shares in the company, valued at $570,301.44. The trade was a 12.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.30% of the company’s stock.

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.