NeoGenomics, Inc. (NASDAQ:NEO) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC decreased its stake in NeoGenomics, Inc. (NASDAQ:NEO) by 23.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,619 shares of the medical research company’s stock after selling 6,064 shares during the quarter. ProShare Advisors LLC’s holdings in NeoGenomics were worth $272,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Sei Investments Co. boosted its stake in shares of NeoGenomics by 152.6% in the second quarter. Sei Investments Co. now owns 263,761 shares of the medical research company’s stock worth $3,658,000 after acquiring an additional 159,350 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in NeoGenomics during the 2nd quarter worth $57,000. Intech Investment Management LLC purchased a new stake in shares of NeoGenomics during the second quarter worth $420,000. Inspire Investing LLC raised its position in shares of NeoGenomics by 10.7% in the second quarter. Inspire Investing LLC now owns 25,088 shares of the medical research company’s stock valued at $348,000 after buying an additional 2,431 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its stake in shares of NeoGenomics by 47.0% in the second quarter. Hsbc Holdings PLC now owns 33,581 shares of the medical research company’s stock worth $466,000 after buying an additional 10,732 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

NeoGenomics Stock Performance

Shares of NeoGenomics stock opened at $13.94 on Friday. The firm has a market cap of $1.78 billion, a PE ratio of -21.12 and a beta of 1.19. The company has a quick ratio of 1.93, a current ratio of 2.01 and a debt-to-equity ratio of 0.37. NeoGenomics, Inc. has a 52 week low of $11.65 and a 52 week high of $21.22. The business’s fifty day simple moving average is $15.98 and its 200-day simple moving average is $14.90.

NeoGenomics (NASDAQ:NEO) last posted its earnings results on Monday, July 29th. The medical research company reported $0.03 EPS for the quarter. NeoGenomics had a negative net margin of 12.50% and a negative return on equity of 2.72%. The company had revenue of $164.50 million for the quarter, compared to analysts’ expectations of $161.82 million. During the same quarter in the prior year, the company posted ($0.09) earnings per share. NeoGenomics’s revenue for the quarter was up 12.0% compared to the same quarter last year. Equities analysts forecast that NeoGenomics, Inc. will post -0.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price objective on shares of NeoGenomics in a research note on Wednesday, September 25th. Stephens reaffirmed an “overweight” rating and issued a $19.00 price target on shares of NeoGenomics in a report on Tuesday, July 30th. Finally, Benchmark reissued a “buy” rating and set a $18.00 price objective on shares of NeoGenomics in a research note on Tuesday, September 24th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, NeoGenomics presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.89.

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.