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

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

Other large investors also recently bought and sold shares of the company. Blue Trust Inc. grew its position in NeoGenomics by 107.2% during 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 during the last quarter. Canada Pension Plan Investment Board purchased a new stake in NeoGenomics during the 2nd quarter worth approximately $57,000. Banque Cantonale Vaudoise grew its position in NeoGenomics by 10.2% during the 2nd quarter. Banque Cantonale Vaudoise now owns 17,575 shares of the medical research company’s stock worth $244,000 after purchasing an additional 1,633 shares during the last quarter. SG Americas Securities LLC purchased a new stake in NeoGenomics during the 3rd quarter worth approximately $312,000. Finally, Creative Planning grew its position in NeoGenomics by 42.3% during the 3rd quarter. Creative Planning now owns 23,547 shares of the medical research company’s stock worth $347,000 after purchasing an additional 7,004 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

NeoGenomics Stock Performance

Shares of NASDAQ NEO opened at $17.73 on Friday. The company’s fifty day moving average price is $14.75 and its 200 day moving average price is $14.91. NeoGenomics, Inc. has a 1 year low of $12.77 and a 1 year high of $21.22. The company has a market capitalization of $2.28 billion, a PE ratio of -29.07 and a beta of 1.19. 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 announced its quarterly earnings results on Tuesday, November 5th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $167.00 million. During the same period in the prior year, the firm posted ($0.06) earnings per share. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, research analysts predict that NeoGenomics, Inc. will post -0.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Benchmark reaffirmed a “buy” rating and issued a $18.00 price objective on shares of NeoGenomics in a report on Tuesday, September 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 price objective on shares of NeoGenomics in a report on Wednesday, November 6th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average 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 company’s stock in a transaction 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 directly owns 37,129 shares in the company, valued at approximately $570,301.44. This represents a 12.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.30% of the stock is currently owned by insiders.

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.