NeoGenomics, Inc. (NASDAQ:NEO) Stake Lessened by Fred Alger Management LLC

Fred Alger Management LLC decreased its position in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 2.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,782,897 shares of the medical research company’s stock after selling 52,015 shares during the period. Fred Alger Management LLC owned 1.39% of NeoGenomics worth $26,298,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its stake in shares of NeoGenomics by 0.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 645,492 shares of the medical research company’s stock worth $10,148,000 after buying an additional 4,528 shares in the last quarter. Blue Trust Inc. grew its holdings in NeoGenomics by 107.2% during the second quarter. Blue Trust Inc. now owns 2,331 shares of the medical research company’s stock worth $32,000 after acquiring an additional 1,206 shares during the period. Oak Family Advisors LLC raised its position in NeoGenomics by 1.4% in the second quarter. Oak Family Advisors LLC now owns 109,095 shares of the medical research company’s stock worth $1,513,000 after acquiring an additional 1,454 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in NeoGenomics by 1.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 64,300 shares of the medical research company’s stock valued at $892,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of NeoGenomics by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 953,875 shares of the medical research company’s stock valued at $13,230,000 after purchasing an additional 16,023 shares in the last quarter. Institutional investors own 98.50% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other NeoGenomics news, General Counsel Alicia C. Olivo sold 5,175 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $15.36, for a total value of $79,488.00. Following 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 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 currently owned by corporate insiders.

NeoGenomics Price Performance

Shares of NASDAQ:NEO opened at $17.73 on Friday. The company’s fifty day moving average is $14.75 and its two-hundred day moving average is $14.91. The company has a market cap of $2.28 billion, a P/E ratio of -29.07 and a beta of 1.19. NeoGenomics, Inc. has a 12-month low of $12.77 and a 12-month high of $21.22. The company has a quick ratio of 1.91, a current ratio of 1.99 and a debt-to-equity ratio of 0.37.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results on Tuesday, November 5th. The medical research company reported $0.05 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $167.00 million. During the same period in the previous year, the firm earned ($0.06) earnings per share. NeoGenomics’s quarterly revenue was up 10.5% on a year-over-year basis. Equities analysts expect that NeoGenomics, Inc. will post -0.17 earnings per share for the current fiscal year.

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.