Loomis Sayles & Co. L P Invests $17.81 Million in NeoGenomics, Inc. (NASDAQ:NEO)

Loomis Sayles & Co. L P acquired a new stake in shares of NeoGenomics, Inc. (NASDAQ:NEO) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,207,290 shares of the medical research company’s stock, valued at approximately $17,807,000. Loomis Sayles & Co. L P owned 0.94% of NeoGenomics at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. First Light Asset Management LLC boosted its holdings in shares of NeoGenomics by 14.5% during the second quarter. First Light Asset Management LLC now owns 3,782,561 shares of the medical research company’s stock valued at $52,464,000 after acquiring an additional 480,396 shares during the period. Blue Trust Inc. increased its stake in shares of NeoGenomics by 42.3% in the third quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company’s stock valued at $46,000 after purchasing an additional 987 shares during the period. Jennison Associates LLC raised its holdings in shares of NeoGenomics by 4.7% during the third quarter. Jennison Associates LLC now owns 1,276,468 shares of the medical research company’s stock valued at $18,828,000 after buying an additional 57,041 shares during the last quarter. Sei Investments Co. boosted its position in shares of NeoGenomics by 152.6% during the second quarter. Sei Investments Co. now owns 263,761 shares of the medical research company’s stock worth $3,658,000 after buying an additional 159,350 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in NeoGenomics by 7.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,324,624 shares of the medical research company’s stock worth $46,108,000 after buying an additional 217,687 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, General Counsel Alicia C. Olivo sold 5,175 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $15.36, for a total value of $79,488.00. Following the completion of the sale, the general counsel now owns 37,129 shares in the company, valued at approximately $570,301.44. This represents a 12.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.

NeoGenomics Price Performance

NASDAQ:NEO opened at $17.18 on Wednesday. The company has a quick ratio of 1.91, a current ratio of 1.99 and a debt-to-equity ratio of 0.37. The business’s 50-day moving average price is $14.66 and its 200 day moving average price is $14.85. NeoGenomics, Inc. has a 52-week low of $12.77 and a 52-week high of $21.22. The firm has a market cap of $2.21 billion, a P/E ratio of -28.16 and a beta of 1.19.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings data on Tuesday, November 5th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. The company had revenue of $167.80 million for the quarter, compared to analysts’ expectations of $167.00 million. During the same quarter in the previous year, the company posted ($0.06) EPS. The business’s revenue was up 10.5% compared to the same quarter last year. As a group, sell-side analysts predict that NeoGenomics, Inc. will post -0.17 earnings per share 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.