Rhumbline Advisers Sells 3,297 Shares of NeoGenomics, Inc. (NASDAQ:NEO)

Rhumbline Advisers reduced its holdings in NeoGenomics, Inc. (NASDAQ:NEO) by 0.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 382,336 shares of the medical research company’s stock after selling 3,297 shares during the quarter. Rhumbline Advisers owned approximately 0.30% of NeoGenomics worth $5,303,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Blue Trust Inc. boosted its holdings in NeoGenomics by 107.2% in the second quarter. Blue Trust Inc. now owns 2,331 shares of the medical research company’s stock valued at $32,000 after acquiring an additional 1,206 shares during the last quarter. Burkett Financial Services LLC acquired a new position in shares of NeoGenomics in the 4th quarter worth approximately $46,000. Quadrant Capital Group LLC boosted its stake in shares of NeoGenomics by 22.0% in the 4th quarter. Quadrant Capital Group LLC now owns 4,900 shares of the medical research company’s stock valued at $79,000 after purchasing an additional 883 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of NeoGenomics by 27.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,434 shares of the medical research company’s stock worth $136,000 after buying an additional 1,791 shares during the period. Finally, Banque Cantonale Vaudoise raised its stake in NeoGenomics by 10.2% during the second quarter. Banque Cantonale Vaudoise now owns 17,575 shares of the medical research company’s stock worth $244,000 after buying an additional 1,633 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

NeoGenomics Stock Performance

Shares of NEO opened at $16.40 on Monday. The firm has a market capitalization of $2.10 billion, a P/E ratio of -24.85 and a beta of 1.19. NeoGenomics, Inc. has a 52 week low of $11.03 and a 52 week high of $21.22. The stock has a 50 day moving average price of $15.82 and a two-hundred day moving average price of $14.92. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.93 and a current ratio of 2.01.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings results on Monday, July 29th. The medical research company reported $0.03 EPS for the quarter. The business had revenue of $164.50 million during the quarter, compared to analyst estimates of $161.82 million. NeoGenomics had a negative return on equity of 2.72% and a negative net margin of 12.50%. NeoGenomics’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.09) EPS. Equities analysts forecast that NeoGenomics, Inc. will post -0.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NEO has been the subject of several recent analyst reports. Benchmark reaffirmed a “buy” rating and set a $18.00 target price on shares of NeoGenomics in a research note on Tuesday, July 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price objective on shares of NeoGenomics in a research report on Tuesday, July 30th. Finally, Stephens reiterated an “overweight” rating and set a $19.00 target price on shares of NeoGenomics in a research report on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.89.

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.