State of Alaska Department of Revenue Reduces Stock Position in NeoGenomics, Inc. (NASDAQ:NEO)

State of Alaska Department of Revenue cut its holdings in shares of NeoGenomics, Inc. (NASDAQ:NEO – Get Rating) by 7.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 87,092 shares of the medical research company’s stock after selling 7,289 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.07% of NeoGenomics worth $749,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of NEO. Ronald Blue Trust Inc. purchased a new stake in NeoGenomics during the 2nd quarter worth approximately $28,000. Security Benefit Life Insurance Co. KS acquired a new position in shares of NeoGenomics in the 2nd quarter worth approximately $44,000. Captrust Financial Advisors grew its position in shares of NeoGenomics by 17.1% in the 2nd quarter. Captrust Financial Advisors now owns 5,780 shares of the medical research company’s stock worth $47,000 after acquiring an additional 844 shares in the last quarter. Strs Ohio grew its position in shares of NeoGenomics by 450.0% in the 2nd quarter. Strs Ohio now owns 6,600 shares of the medical research company’s stock worth $53,000 after acquiring an additional 5,400 shares in the last quarter. Finally, Capstone Financial Advisors Inc. acquired a new position in shares of NeoGenomics in the 2nd quarter worth approximately $82,000. 88.15% of the stock is currently owned by hedge funds and other institutional investors.

NeoGenomics Trading Up 7.4 %

Shares of NEO stock opened at $9.96 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 6.82 and a current ratio of 7.10. NeoGenomics, Inc. has a 1 year low of $6.00 and a 1 year high of $28.49. The stock has a fifty day moving average of $10.03 and a two-hundred day moving average of $9.58. The firm has a market capitalization of $1.26 billion, a PE ratio of -7.55 and a beta of 1.06.

NeoGenomics (NASDAQ:NEO – Get Rating) last announced its quarterly earnings results on Tuesday, November 8th. The medical research company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.06. NeoGenomics had a negative return on equity of 9.46% and a negative net margin of 32.88%. The company had revenue of $128.78 million during the quarter, compared to analyst estimates of $122.55 million. As a group, research analysts expect that NeoGenomics, Inc. will post -0.86 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NEO. SVB Leerink lifted their target price on NeoGenomics from $12.00 to $15.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 9th. StockNews.com lowered NeoGenomics from a “hold” rating to a “sell” rating in a research report on Saturday, November 19th. William Blair reiterated an “outperform” rating on shares of NeoGenomics in a research report on Friday, October 28th. Raymond James decreased their target price on NeoGenomics from $15.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, November 11th. Finally, Morgan Stanley reduced their price objective on NeoGenomics from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $19.00.

About NeoGenomics

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NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States, Europe, and Asia. It operates through, Clinical Services and Pharma Services segments. The company offers testing services to hospitals, reference labs, pathologists, oncologists, clinicians, pharmaceutical firms, and researchers.