State of Alaska Department of Revenue Lowers Holdings in NeoGenomics, Inc. (NASDAQ:NEO)

State of Alaska Department of Revenue reduced its stake in NeoGenomics, Inc. (NASDAQ:NEO) by 2.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 73,224 shares of the medical research company’s stock after selling 1,758 shares during the period. State of Alaska Department of Revenue’s holdings in NeoGenomics were worth $1,080,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bellevue Group AG purchased a new position in NeoGenomics in the 1st quarter worth approximately $14,872,000. Kopp LeRoy C bought a new stake in shares of NeoGenomics in the 1st quarter worth $14,062,000. First Light Asset Management LLC raised its stake in shares of NeoGenomics by 14.5% in the second quarter. First Light Asset Management LLC now owns 3,782,561 shares of the medical research company’s stock worth $52,464,000 after purchasing an additional 480,396 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of NeoGenomics by 77.8% during the first quarter. Jennison Associates LLC now owns 1,051,627 shares of the medical research company’s stock valued at $16,532,000 after purchasing an additional 460,071 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of NeoGenomics by 7.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,324,624 shares of the medical research company’s stock valued at $46,108,000 after buying an additional 217,687 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

NeoGenomics Stock Performance

Shares of NASDAQ NEO opened at $14.14 on Tuesday. The company has a current ratio of 2.01, a quick ratio of 1.93 and a debt-to-equity ratio of 0.37. NeoGenomics, Inc. has a 12-month low of $12.77 and a 12-month high of $21.22. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of -22.81 and a beta of 1.19. The firm has a 50 day moving average of $14.75 and a 200 day moving average of $14.71.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $19.00 target price on shares of NeoGenomics in a research report on Wednesday, September 25th. Stephens reissued an “overweight” rating and set a $19.00 price objective on shares of NeoGenomics in a report on Tuesday, July 30th. Finally, Benchmark restated a “buy” rating and issued a $18.00 target price on shares of NeoGenomics in a report on Tuesday, September 24th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, NeoGenomics presently has an average rating of “Moderate Buy” and a consensus target price of $19.89.

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.