The Manufacturers Life Insurance Company Decreases Stock Position in NeoGenomics, Inc. (NASDAQ:NEO)

The Manufacturers Life Insurance Company cut its holdings in NeoGenomics, Inc. (NASDAQ:NEO) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,687 shares of the medical research company’s stock after selling 908 shares during the period. The Manufacturers Life Insurance Company owned about 0.05% of NeoGenomics worth $1,028,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Arizona State Retirement System raised its stake in NeoGenomics by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 35,739 shares of the medical research company’s stock valued at $496,000 after purchasing an additional 708 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in NeoGenomics by 2.9% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 29,494 shares of the medical research company’s stock valued at $409,000 after purchasing an additional 842 shares during the last quarter. Fernwood Investment Management LLC raised its stake in NeoGenomics by 1.0% in the 3rd quarter. Fernwood Investment Management LLC now owns 89,500 shares of the medical research company’s stock valued at $1,320,000 after purchasing an additional 900 shares during the last quarter. Blue Trust Inc. raised its stake in NeoGenomics by 42.3% in the 3rd 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 during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in NeoGenomics by 3.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 32,505 shares of the medical research company’s stock valued at $451,000 after purchasing an additional 1,030 shares during the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, General Counsel Alicia C. Olivo sold 5,175 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was 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 directly owns 37,129 shares in the company, valued at approximately $570,301.44. This represents a 12.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

NEO has been the subject of several analyst reports. Jefferies Financial Group started coverage on shares of NeoGenomics in a research note on Tuesday. They issued a “buy” rating and a $22.00 target price for the company. Benchmark reaffirmed a “buy” rating and set a $18.00 price objective on shares of NeoGenomics in a research note on Tuesday, September 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price objective on shares of NeoGenomics in a research note on Wednesday, November 6th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, NeoGenomics presently has a consensus rating of “Buy” and an average target price of $20.44.

NeoGenomics Stock Down 1.5 %

NEO opened at $17.90 on Friday. The firm has a 50 day moving average price of $15.31 and a 200 day moving average price of $15.11. The company has a market cap of $2.30 billion, a PE ratio of -29.34 and a beta of 1.24. NeoGenomics, Inc. has a 1 year low of $12.77 and a 1 year high of $21.22. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.91 and a current ratio of 1.99.

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