NeoGenomics, Inc. (NASDAQ:NEO) Shares Sold by The Manufacturers Life Insurance Company

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

Several other large investors have also recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake in NeoGenomics by 107.2% during the second quarter. Blue Trust Inc. now owns 2,331 shares of the medical research company’s stock valued at $32,000 after buying an additional 1,206 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of NeoGenomics in the 2nd quarter valued at $57,000. KBC Group NV boosted its position in shares of NeoGenomics by 33.1% in the 3rd quarter. KBC Group NV now owns 4,530 shares of the medical research company’s stock valued at $67,000 after purchasing an additional 1,127 shares during the period. Banque Cantonale Vaudoise boosted its position 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 valued at $244,000 after purchasing an additional 1,633 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of NeoGenomics in the 3rd quarter valued at $312,000. 98.50% of the stock is owned by institutional investors and hedge funds.

NeoGenomics Price Performance

NeoGenomics stock opened at $17.90 on Friday. The business’s 50-day simple moving average is $15.31 and its 200 day simple moving average is $15.11. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of -29.34 and a beta of 1.24. 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 (EPS) 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 business had revenue of $167.80 million for the quarter, compared to analysts’ expectations of $167.00 million. During the same quarter last year, the business earned ($0.06) earnings per share. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. As a group, research analysts anticipate that NeoGenomics, Inc. will post -0.17 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on NEO shares. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price target on shares of NeoGenomics in a research report on Wednesday, November 6th. Benchmark reiterated a “buy” rating and issued a $18.00 price target on shares of NeoGenomics in a research report on Tuesday, September 24th. Finally, Jefferies Financial Group assumed coverage on NeoGenomics in a research report on Tuesday. They issued a “buy” rating and a $22.00 price target for the company. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $20.44.

Insider Buying and Selling at NeoGenomics

In related news, General Counsel Alicia C. Olivo sold 5,175 shares of the stock in a transaction dated 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 trade represents a 12.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.30% of the company’s stock.

NeoGenomics 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.