Illinois Municipal Retirement Fund bought a new stake in NeoGenomics, Inc. (NASDAQ:NEO – Free Report) in the 1st quarter, Holdings Channel.com reports. The fund bought 75,776 shares of the medical research company’s stock, valued at approximately $562,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. First Horizon Corp lifted its stake in shares of NeoGenomics by 52.6% during the fourth quarter. First Horizon Corp now owns 2,509 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 865 shares during the period. Headlands Technologies LLC bought a new position in NeoGenomics in the second quarter valued at about $32,000. Caitong International Asset Management Co. Ltd increased its position in NeoGenomics by 110.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,968 shares of the medical research company’s stock worth $35,000 after purchasing an additional 1,556 shares during the period. Kestra Advisory Services LLC acquired a new stake in NeoGenomics in the fourth quarter worth about $39,000. Finally, GAMMA Investing LLC raised its holdings in NeoGenomics by 68.2% during the 4th quarter. GAMMA Investing LLC now owns 3,602 shares of the medical research company’s stock worth $42,000 after purchasing an additional 1,460 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on NEO shares. Wall Street Zen upgraded shares of NeoGenomics from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. TD Cowen reiterated a “buy” rating on shares of NeoGenomics in a research report on Wednesday, July 15th. Weiss Ratings raised shares of NeoGenomics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. Benchmark increased their price objective on shares of NeoGenomics from $11.00 to $16.00 and gave the company a “buy” rating in a report on Friday. Finally, Leerink Partners raised shares of NeoGenomics from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $12.00 to $25.00 in a research note on Wednesday, April 29th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $14.57.
Insiders Place Their Bets
In related news, Director Lynn A. Tetrault sold 5,307 shares of NeoGenomics stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $11.29, for a total transaction of $59,916.03. Following the transaction, the director owned 91,422 shares of the company’s stock, valued at $1,032,154.38. This trade represents a 5.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is owned by insiders.
NeoGenomics Trading Down 2.5%
NASDAQ NEO opened at $13.89 on Friday. NeoGenomics, Inc. has a 12 month low of $4.72 and a 12 month high of $15.57. The stock has a 50-day simple moving average of $12.19 and a 200 day simple moving average of $10.65. The company has a current ratio of 4.42, a quick ratio of 4.06 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $1.81 billion, a PE ratio of -18.04 and a beta of 1.74.
NeoGenomics (NASDAQ:NEO – Get Free Report) last issued its earnings results on Tuesday, April 28th. The medical research company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $186.67 million for the quarter, compared to analysts’ expectations of $184.54 million. NeoGenomics had a negative return on equity of 2.80% and a negative net margin of 13.30%.The company’s revenue for the quarter was up 11.3% on a year-over-year basis. Research analysts forecast that NeoGenomics, Inc. will post -0.15 EPS for the current year.
NeoGenomics Profile
NeoGenomics, traded on the Nasdaq under the symbol NEO, is a leading provider of cancer-focused genetic and molecular testing services. Headquartered in Fort Myers, Florida, the company operates an integrated network of CAP-accredited and CLIA-certified laboratories across the United States, Europe and Asia. NeoGenomics delivers diagnostic insights that support oncologists, pathologists and healthcare institutions in the detection, prognosis and treatment of hematologic and solid tumor cancers.
The company’s core service offerings include flow cytometry, immunohistochemistry, fluorescence in situ hybridization (FISH), karyotyping and advanced molecular assays such as next-generation sequencing (NGS) panels and polymerase chain reaction (PCR) tests.
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