Mitsubishi UFJ Asset Management UK Ltd. Boosts Stock Holdings in NeoGenomics, Inc. (NASDAQ:NEO)

Mitsubishi UFJ Asset Management UK Ltd. lifted its stake in NeoGenomics, Inc. (NASDAQ:NEO) by 16.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,000 shares of the medical research company’s stock after purchasing an additional 8,000 shares during the period. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in NeoGenomics were worth $923,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NEO. Nordea Investment Management AB increased its holdings in shares of NeoGenomics by 2.8% in the 4th quarter. Nordea Investment Management AB now owns 77,534 shares of the medical research company’s stock valued at $1,301,000 after acquiring an additional 2,125 shares during the last quarter. Geode Capital Management LLC increased its stake in NeoGenomics by 1.2% in the third quarter. Geode Capital Management LLC now owns 3,051,806 shares of the medical research company’s stock valued at $45,022,000 after purchasing an additional 36,136 shares during the last quarter. Jennison Associates LLC raised its holdings in NeoGenomics by 4.7% during the third quarter. Jennison Associates LLC now owns 1,276,468 shares of the medical research company’s stock worth $18,828,000 after purchasing an additional 57,041 shares in the last quarter. First Light Asset Management LLC lifted its position in shares of NeoGenomics by 14.5% during 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 during the last quarter. Finally, Blue Trust Inc. boosted its holdings 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 valued at $46,000 after buying an additional 987 shares in the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NEO has been the topic of several research analyst reports. Benchmark lowered shares of NeoGenomics from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Needham & Company LLC reissued a “buy” rating and issued a $19.00 target price on shares of NeoGenomics in a research report on Friday, January 10th. Jefferies Financial Group started coverage on NeoGenomics in a research report on Tuesday, December 10th. They set a “buy” rating and a $22.00 price target on the stock. Finally, Bank of America increased their price objective on NeoGenomics from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, NeoGenomics presently has an average rating of “Moderate Buy” and a consensus price target of $20.30.

Insider Activity at NeoGenomics

In other news, General Counsel Alicia C. Olivo sold 5,175 shares of NeoGenomics 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 sale, the general counsel now directly owns 37,129 shares in the company, valued at approximately $570,301.44. This trade represents a 12.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.

NeoGenomics Stock Down 0.2 %

Shares of NeoGenomics stock opened at $14.18 on Wednesday. NeoGenomics, Inc. has a one year low of $12.13 and a one year high of $19.11. The company has a market cap of $1.82 billion, a P/E ratio of -23.25 and a beta of 1.24. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.91 and a current ratio of 1.99. The firm has a fifty day moving average of $16.64 and a two-hundred day moving average of $15.68.

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 net margin of 12.07% and a negative return on equity of 2.11%. The firm had revenue of $167.80 million during the quarter, compared to analysts’ expectations of $167.00 million. During the same period in the prior year, the company posted ($0.06) earnings per share. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, analysts forecast that NeoGenomics, Inc. will post -0.16 earnings per share for the current 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.