NeoGenomics, Inc. (NASDAQ:NEO) Shares Bought by State Street Corp

State Street Corp raised its stake in shares of NeoGenomics, Inc. (NASDAQ:NEO - Free Report) by 1.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 approximately 3.86% of NeoGenomics worth $73,139,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in NEO. Blue Trust Inc. grew its position in shares of NeoGenomics by 107.2% in the 2nd quarter. Blue Trust Inc. now owns 2,331 shares of the medical research company's stock worth $32,000 after buying an additional 1,206 shares during the last quarter. Oak Family Advisors LLC increased its position in shares of NeoGenomics by 1.4% during the second quarter. Oak Family Advisors LLC now owns 109,095 shares of the medical research company's stock worth $1,513,000 after purchasing an additional 1,454 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of NeoGenomics by 1.9% during the second quarter. Louisiana State Employees Retirement System now owns 64,300 shares of the medical research company's stock worth $892,000 after purchasing an additional 1,200 shares in the last quarter. Bank of New York Mellon Corp grew its stake in NeoGenomics by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 953,875 shares of the medical research company's stock worth $13,230,000 after buying an additional 16,023 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in NeoGenomics by 36.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 29,040 shares of the medical research company's stock valued at $403,000 after buying an additional 7,793 shares in the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

NeoGenomics Stock Performance

NeoGenomics stock traded down $1.06 during mid-day trading on Wednesday, hitting $16.49. The company had a trading volume of 744,168 shares, compared to its average volume of 798,276. The company has a current ratio of 1.99, a quick ratio of 1.91 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of -27.03 and a beta of 1.24. The company's fifty day moving average is $15.63 and its 200-day moving average is $15.21. NeoGenomics, Inc. has a 12-month low of $12.77 and a 12-month high of $21.22.

NeoGenomics (NASDAQ:NEO - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The medical research company reported $0.05 earnings per share for the quarter, beating 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 company had revenue of $167.80 million during the quarter, compared to analysts' expectations of $167.00 million. During the same quarter in the previous year, the company earned ($0.06) earnings per share. The firm's revenue for the quarter was up 10.5% on a year-over-year basis. Equities research analysts predict that NeoGenomics, Inc. will post -0.16 EPS for the current year.

Analysts Set New Price Targets

NEO has been the topic of a number of research analyst reports. Needham & Company LLC restated a "buy" rating and set a $19.00 price target on shares of NeoGenomics in a research note on Wednesday, November 6th. Bank of America upped their price target on shares of NeoGenomics from $18.00 to $19.00 and gave the company a "neutral" rating in a research note on Friday, December 13th. Benchmark reiterated a "buy" rating and set a $18.00 price objective on shares of NeoGenomics in a research note on Tuesday, September 24th. Finally, Jefferies Financial Group initiated coverage on NeoGenomics in a research report on Tuesday, December 10th. They issued a "buy" rating and a $22.00 target price on the stock. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $20.30.

Insider Buying and Selling

In related news, General Counsel Alicia C. Olivo sold 5,175 shares of the business's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $15.36, for a total value of $79,488.00. Following the completion of the sale, the general counsel now owns 37,129 shares of the company's stock, valued at approximately $570,301.44. The trade was a 12.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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.