Loomis Sayles & Co. L P Buys Shares of 1,207,290 NeoGenomics, Inc. (NASDAQ:NEO)

Loomis Sayles & Co. L P bought a new stake in NeoGenomics, Inc. (NASDAQ:NEO) during the third quarter, Holdings Channel reports. The institutional investor bought 1,207,290 shares of the medical research company’s stock, valued at approximately $17,807,000.

A number of other hedge funds have also made changes to their positions in the stock. Blue Trust Inc. grew its stake in NeoGenomics by 107.2% in the second quarter. Blue Trust Inc. now owns 2,331 shares of the medical research company’s stock valued at $32,000 after purchasing an additional 1,206 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of NeoGenomics in the 2nd quarter valued at approximately $57,000. KBC Group NV raised its holdings in shares of NeoGenomics by 33.1% during the 3rd quarter. KBC Group NV now owns 4,530 shares of the medical research company’s stock valued at $67,000 after purchasing an additional 1,127 shares in the last quarter. Banque Cantonale Vaudoise lifted its position in shares of NeoGenomics by 10.2% in the second quarter. Banque Cantonale Vaudoise now owns 17,575 shares of the medical research company’s stock worth $244,000 after buying an additional 1,633 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in NeoGenomics in the 3rd quarter worth approximately $312,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

NeoGenomics Trading Up 1.5 %

Shares of NEO stock opened at $17.18 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.91 and a current ratio of 1.99. The firm has a fifty day moving average of $14.66 and a 200-day moving average of $14.85. NeoGenomics, Inc. has a 52-week low of $12.77 and a 52-week high of $21.22. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of -28.16 and a beta of 1.19.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings results on Tuesday, November 5th. The medical research company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The firm had revenue of $167.80 million during the quarter, compared to analysts’ expectations of $167.00 million. NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.06) earnings per share. On average, equities research analysts forecast that NeoGenomics, Inc. will post -0.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

NEO has been the subject of a number of recent analyst reports. Benchmark restated a “buy” rating and set a $18.00 price target on shares of NeoGenomics in a report on Tuesday, September 24th. Needham & Company LLC reiterated a “buy” rating and set a $19.00 target price on shares of NeoGenomics in a research note on Wednesday, November 6th. Finally, Stephens reissued an “overweight” rating and issued a $19.00 price target on shares of NeoGenomics in a report on Tuesday, July 30th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $20.25.

Insider Buying and Selling

In related news, General Counsel Alicia C. Olivo sold 5,175 shares of the stock in a transaction dated 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 through the SEC website. 1.30% of the stock is owned by corporate insiders.

NeoGenomics Company 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.