Public Sector Pension Investment Board Cuts Stock Holdings in NeoGenomics, Inc. (NASDAQ:NEO)

Public Sector Pension Investment Board reduced its stake in NeoGenomics, Inc. (NASDAQ:NEO) by 3.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 271,881 shares of the medical research company’s stock after selling 9,100 shares during the quarter. Public Sector Pension Investment Board owned about 0.21% of NeoGenomics worth $4,010,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of NEO. Blue Trust Inc. boosted its holdings in shares of NeoGenomics by 107.2% in the 2nd quarter. Blue Trust Inc. now owns 2,331 shares of the medical research company’s stock worth $32,000 after purchasing an additional 1,206 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in NeoGenomics in the second quarter worth approximately $57,000. KBC Group NV grew its position in NeoGenomics by 33.1% during the third quarter. KBC Group NV now owns 4,530 shares of the medical research company’s stock valued at $67,000 after acquiring an additional 1,127 shares during the last quarter. FMR LLC raised its stake in shares of NeoGenomics by 7.6% during 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 in the last quarter. Finally, Banque Cantonale Vaudoise lifted its holdings in shares of NeoGenomics by 10.2% in the 2nd quarter. Banque Cantonale Vaudoise now owns 17,575 shares of the medical research company’s stock worth $244,000 after acquiring an additional 1,633 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

Insider Activity at NeoGenomics

In other news, General Counsel Alicia C. Olivo sold 5,175 shares of the company’s stock in a transaction 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 transaction, the general counsel now directly owns 37,129 shares of the company’s stock, valued at $570,301.44. This represents a 12.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.30% of the stock is owned by insiders.

NeoGenomics Stock Up 1.5 %

Shares of NASDAQ:NEO opened at $18.00 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 stock has a fifty day simple moving average of $14.79 and a two-hundred day simple moving average of $14.92. NeoGenomics, Inc. has a 12-month low of $12.77 and a 12-month high of $21.22. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of -29.51 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 (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. NeoGenomics had a negative return on equity of 2.11% and a negative net margin of 12.07%. The firm 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 firm earned ($0.06) EPS. NeoGenomics’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, research analysts anticipate that NeoGenomics, Inc. will post -0.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NEO has been the subject of several recent research reports. Benchmark reiterated a “buy” rating and issued a $18.00 price objective on shares of NeoGenomics in a research report on Tuesday, September 24th. Needham & Company LLC reissued a “buy” rating and set a $19.00 target price on shares of NeoGenomics in a research note on Wednesday, November 6th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price 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.