Fred Alger Management LLC Trims Holdings in NeoGenomics, Inc. (NASDAQ:NEO)

Fred Alger Management LLC decreased its position in shares of NeoGenomics, Inc. (NASDAQ:NEO - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,712,959 shares of the medical research company's stock after selling 69,938 shares during the quarter. Fred Alger Management LLC owned about 1.33% of NeoGenomics worth $28,230,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Loomis Sayles & Co. L P raised its holdings in shares of NeoGenomics by 48.4% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,791,792 shares of the medical research company's stock valued at $29,528,000 after purchasing an additional 584,502 shares during the last quarter. Norges Bank purchased a new stake in NeoGenomics in the 4th quarter valued at about $6,273,000. Jennison Associates LLC lifted its position in shares of NeoGenomics by 18.7% during the 4th quarter. Jennison Associates LLC now owns 1,514,756 shares of the medical research company's stock worth $24,963,000 after buying an additional 238,288 shares in the last quarter. Greenhouse Funds LLLP boosted its stake in shares of NeoGenomics by 5.3% in the 4th quarter. Greenhouse Funds LLLP now owns 4,701,897 shares of the medical research company's stock worth $77,487,000 after buying an additional 237,491 shares during the last quarter. Finally, Segall Bryant & Hamill LLC grew its holdings in shares of NeoGenomics by 11.6% in the fourth quarter. Segall Bryant & Hamill LLC now owns 2,113,822 shares of the medical research company's stock valued at $34,836,000 after acquiring an additional 220,415 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Leerink Partners lowered 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. Leerink Partnrs downgraded NeoGenomics from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Needham & Company LLC dropped their price target on NeoGenomics from $18.00 to $8.50 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. StockNews.com downgraded NeoGenomics from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Finally, Bank of America lowered their price objective on NeoGenomics from $19.00 to $16.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $13.83.

Insider Buying and Selling

In related news, Director David Brian Perez purchased 10,000 shares of NeoGenomics stock in a transaction dated Monday, May 5th. The stock was purchased at an average cost of $7.63 per share, for a total transaction of $76,300.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company's stock, valued at $76,300. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Jeffrey Scott Sherman purchased 20,000 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was purchased at an average price of $7.51 per share, for a total transaction of $150,200.00. Following the completion of the purchase, the chief financial officer now owns 158,494 shares in the company, valued at approximately $1,190,289.94. The trade was a 14.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 59,900 shares of company stock valued at $463,532 over the last quarter. Corporate insiders own 2.40% of the company's stock.

NeoGenomics Trading Down 1.0 %

Shares of NeoGenomics stock traded down $0.08 during midday trading on Friday, reaching $8.05. 961,071 shares of the company's stock traded hands, compared to its average volume of 1,106,974. The company has a market cap of $1.04 billion, a PE ratio of -12.98 and a beta of 1.60. The stock has a 50 day moving average of $9.21 and a 200-day moving average of $13.08. NeoGenomics, Inc. has a 12 month low of $6.08 and a 12 month 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.

NeoGenomics (NASDAQ:NEO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The medical research company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.06). The company had revenue of $168.04 million during the quarter, compared to the consensus estimate of $171.38 million. NeoGenomics had a negative return on equity of 2.10% and a negative net margin of 11.92%. NeoGenomics's quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.02) earnings per share. As a group, equities analysts expect that NeoGenomics, Inc. will post -0.2 EPS for the current fiscal year.

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.