State Street Corp Has $73.14 Million Stock Holdings in NeoGenomics, Inc. (NASDAQ:NEO)

State Street Corp increased its stake in NeoGenomics, Inc. (NASDAQ:NEO) by 1.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,958,582 shares of the medical research company’s stock after acquiring an additional 80,449 shares during the quarter. State Street Corp owned about 3.86% of NeoGenomics worth $73,139,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Jennison Associates LLC raised its position in shares of NeoGenomics by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 1,276,468 shares of the medical research company’s stock worth $18,828,000 after acquiring an additional 57,041 shares in the last quarter. First Light Asset Management LLC increased its holdings in 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 in the last quarter. Blue Trust Inc. lifted its stake in NeoGenomics by 42.3% in the third 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 during the period. Sei Investments Co. boosted its holdings in shares of NeoGenomics by 152.6% during the 2nd quarter. Sei Investments Co. now owns 263,761 shares of the medical research company’s stock worth $3,658,000 after buying an additional 159,350 shares in the last quarter. Finally, Algert Global LLC grew its position in shares of NeoGenomics by 204.3% during the 3rd quarter. Algert Global LLC now owns 79,983 shares of the medical research company’s stock worth $1,180,000 after buying an additional 53,700 shares during the period. 98.50% of the stock is currently owned by institutional investors.

NeoGenomics Stock Down 2.3 %

NEO stock opened at $17.55 on Wednesday. The stock’s 50 day moving average is $15.56 and its 200-day moving average is $15.20. NeoGenomics, Inc. has a twelve month low of $12.77 and a twelve month high of $21.22. The firm has a market capitalization of $2.25 billion, a PE ratio of -28.77 and a beta of 1.24. 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 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 analyst estimates of $167.00 million. During the same quarter in the prior year, the business posted ($0.06) EPS. The business’s revenue was up 10.5% compared to the same quarter last year. Sell-side analysts expect that NeoGenomics, Inc. will post -0.16 EPS for the current fiscal year.

Insider Transactions at NeoGenomics

In other news, General Counsel Alicia C. Olivo sold 5,175 shares of the firm’s 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 owns 37,129 shares in the company, valued at $570,301.44. This trade represents a 12.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on NEO. Needham & Company LLC reiterated a “buy” rating and set a $19.00 target price on shares of NeoGenomics in a research report on Wednesday, November 6th. Benchmark reiterated a “buy” rating and set a $18.00 price objective on shares of NeoGenomics in a report on Tuesday, September 24th. Jefferies Financial Group began coverage on NeoGenomics in a research report on Tuesday, December 10th. They issued a “buy” rating and a $22.00 target price for the company. Finally, Bank of America upped their price target on NeoGenomics from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $20.30.

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.