Emerald Advisers LLC Sells 61,289 Shares of NeoGenomics, Inc. (NASDAQ:NEO)

Emerald Advisers LLC lessened its position in NeoGenomics, Inc. (NASDAQ:NEO) by 3.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,844,615 shares of the medical research company’s stock after selling 61,289 shares during the period. Emerald Advisers LLC’s holdings in NeoGenomics were worth $25,585,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. boosted its position in shares of NeoGenomics by 107.2% during the second quarter. Blue Trust Inc. now owns 2,331 shares of the medical research company’s stock valued at $32,000 after buying an additional 1,206 shares during the last quarter. Burkett Financial Services LLC purchased a new stake in shares of NeoGenomics during the 4th quarter valued at about $46,000. Quadrant Capital Group LLC grew its stake in shares of NeoGenomics by 22.0% in the fourth quarter. Quadrant Capital Group LLC now owns 4,900 shares of the medical research company’s stock worth $79,000 after acquiring an additional 883 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of NeoGenomics by 27.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,434 shares of the medical research company’s stock valued at $136,000 after purchasing an additional 1,791 shares during the last quarter. Finally, Banque Cantonale Vaudoise lifted its position in NeoGenomics by 10.2% during the second quarter. Banque Cantonale Vaudoise now owns 17,575 shares of the medical research company’s stock valued at $244,000 after purchasing an additional 1,633 shares during the period. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Benchmark reaffirmed a “buy” rating and issued a $18.00 target price on shares of NeoGenomics in a research report on Tuesday, July 30th. Stephens reaffirmed an “overweight” rating and issued a $19.00 price objective on shares of NeoGenomics in a report on Tuesday, July 30th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $19.00 target price on shares of NeoGenomics in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, NeoGenomics presently has an average rating of “Moderate Buy” and an average target price of $19.89.

NeoGenomics Stock Performance

NASDAQ:NEO opened at $16.04 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.93 and a current ratio of 2.01. The stock has a 50-day simple moving average of $15.60 and a two-hundred day simple moving average of $14.94. The firm has a market capitalization of $2.05 billion, a PE ratio of -24.30 and a beta of 1.19. NeoGenomics, Inc. has a 52-week low of $11.03 and a 52-week high of $21.22.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings data on Monday, July 29th. The medical research company reported $0.03 earnings per share (EPS) for the quarter. NeoGenomics had a negative return on equity of 2.72% and a negative net margin of 12.50%. The company had revenue of $164.50 million during the quarter, compared to the consensus estimate of $161.82 million. During the same period in the previous year, the company posted ($0.09) EPS. The firm’s revenue was up 12.0% on a year-over-year basis. Analysts forecast that NeoGenomics, Inc. will post -0.22 EPS for the current year.

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.