Mackenzie Financial Corp Sells 2,542 Shares of NeoGenomics, Inc. (NASDAQ:NEO)

Mackenzie Financial Corp reduced its holdings in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 14.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 14,498 shares of the medical research company’s stock after selling 2,542 shares during the quarter. Mackenzie Financial Corp’s holdings in NeoGenomics were worth $235,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. BluePath Capital Management LLC purchased a new stake in shares of NeoGenomics during the third quarter worth $30,000. WINTON GROUP Ltd purchased a new stake in NeoGenomics during the 3rd quarter worth about $133,000. Corton Capital Inc. bought a new position in NeoGenomics in the 3rd quarter worth about $141,000. Aigen Investment Management LP purchased a new position in NeoGenomics during the 3rd quarter valued at about $163,000. Finally, Oppenheimer Asset Management Inc. increased its position in shares of NeoGenomics by 44.9% during the third quarter. Oppenheimer Asset Management Inc. now owns 19,578 shares of the medical research company’s stock valued at $241,000 after buying an additional 6,062 shares during the period. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NEO has been the subject of a number of analyst reports. William Blair restated an “outperform” rating on shares of NeoGenomics in a research report on Wednesday, February 21st. The Goldman Sachs Group raised their price target on shares of NeoGenomics from $17.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Piper Sandler upped their price target on shares of NeoGenomics from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, February 26th. Finally, Needham & Company LLC increased their price objective on NeoGenomics from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, NeoGenomics has a consensus rating of “Moderate Buy” and a consensus target price of $19.50.

Insider Activity at NeoGenomics

In related news, General Counsel Alicia C. Olivo sold 2,587 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $14.96, for a total value of $38,701.52. Following the completion of the sale, the general counsel now owns 34,866 shares in the company, valued at approximately $521,595.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is currently owned by insiders.

NeoGenomics Price Performance

Shares of NASDAQ:NEO opened at $14.14 on Monday. NeoGenomics, Inc. has a one year low of $11.03 and a one year high of $21.22. The company has a debt-to-equity ratio of 0.57, a current ratio of 6.20 and a quick ratio of 5.95. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of -20.20 and a beta of 1.10. The company’s fifty day moving average price is $15.04 and its 200-day moving average price is $15.94.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings results on Tuesday, February 20th. The medical research company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. NeoGenomics had a negative return on equity of 4.13% and a negative net margin of 14.87%. The business had revenue of $155.55 million for the quarter, compared to the consensus estimate of $152.90 million. On average, equities research analysts anticipate that NeoGenomics, Inc. will post -0.2 earnings per share for the current fiscal year.

NeoGenomics 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.