Rhumbline Advisers Sells 22,414 Shares of NeoGenomics, Inc. (NASDAQ:NEO)

Rhumbline Advisers lowered its stake in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 5.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 366,589 shares of the medical research company’s stock after selling 22,414 shares during the quarter. Rhumbline Advisers owned about 0.29% of NeoGenomics worth $3,479,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. PNC Financial Services Group Inc. increased its position in NeoGenomics by 5.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 15,610 shares of the medical research company’s stock worth $257,000 after acquiring an additional 770 shares during the period. Summit Investment Advisors Inc. increased its position in NeoGenomics by 6.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 13,339 shares of the medical research company’s stock worth $220,000 after acquiring an additional 863 shares during the period. SBI Securities Co. Ltd. bought a new position in NeoGenomics during the fourth quarter worth $26,000. NewEdge Advisors LLC increased its position in NeoGenomics by 15.9% during the fourth quarter. NewEdge Advisors LLC now owns 18,622 shares of the medical research company’s stock worth $307,000 after acquiring an additional 2,558 shares during the period. Finally, MetLife Investment Management LLC increased its position in NeoGenomics by 3.5% during the fourth quarter. MetLife Investment Management LLC now owns 77,403 shares of the medical research company’s stock worth $1,276,000 after acquiring an additional 2,596 shares during the period. Institutional investors own 98.50% of the company’s stock.

Analysts Set New Price Targets

NEO has been the topic of a number of recent research reports. Guggenheim initiated coverage on shares of NeoGenomics in a research note on Thursday, May 15th. They set a “neutral” rating on the stock. Leerink Partnrs downgraded shares of NeoGenomics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 30th. Leerink Partners downgraded shares of NeoGenomics from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $25.00 to $9.00 in a research note on Wednesday, April 30th. Morgan Stanley decreased their price target on shares of NeoGenomics from $17.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. Finally, Wall Street Zen upgraded shares of NeoGenomics from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $13.83.

Insider Buying and Selling

In related news, Director David Brian Perez purchased 10,000 shares of NeoGenomics stock in a transaction that occurred on Monday, May 5th. The shares were acquired at an average price of $7.63 per share, for a total transaction of $76,300.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $76,300. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Jeffrey Scott Sherman acquired 20,000 shares of the company’s stock in a transaction on Friday, May 2nd. The shares were purchased at an average cost of $7.51 per share, with a total value of $150,200.00. Following the completion of the acquisition, the chief financial officer now directly owns 158,494 shares in the company, valued at approximately $1,190,289.94. The trade was a 14.44% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 70,600 shares of company stock worth $550,438 in the last 90 days. Corporate insiders own 2.40% of the company’s stock.

NeoGenomics Stock Down 4.3%

Shares of NASDAQ:NEO opened at $7.07 on Friday. NeoGenomics, Inc. has a 52 week low of $6.08 and a 52 week high of $19.12. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.91 and a current ratio of 1.98. The company’s fifty day moving average is $8.20 and its 200-day moving average is $11.76. The company has a market capitalization of $909.87 million, a PE ratio of -11.40 and a beta of 1.65.

NeoGenomics (NASDAQ:NEO) last issued its earnings results on Tuesday, April 29th. The medical research company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.06). NeoGenomics had a negative net margin of 11.92% and a negative return on equity of 2.10%. The firm had revenue of $168.04 million during the quarter, compared to analyst estimates of $171.38 million. During the same quarter in the prior year, the firm posted ($0.02) EPS. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. Equities research analysts predict 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.