Louisiana State Employees Retirement System Makes New $426,000 Investment in NeoGenomics, Inc. $NEO

Louisiana State Employees Retirement System bought a new stake in shares of NeoGenomics, Inc. (NASDAQ:NEO) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 57,400 shares of the medical research company’s stock, valued at approximately $426,000.

A number of other hedge funds have also made changes to their positions in the stock. T. Rowe Price Investment Management Inc. increased its stake in shares of NeoGenomics by 69.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,218,727 shares of the medical research company’s stock worth $26,093,000 after buying an additional 912,788 shares during the last quarter. Quadrature Capital Ltd acquired a new position in NeoGenomics during the 4th quarter worth $363,000. AQR Capital Management LLC grew its holdings in NeoGenomics by 121.7% during the 4th quarter. AQR Capital Management LLC now owns 146,352 shares of the medical research company’s stock worth $1,721,000 after acquiring an additional 80,348 shares in the last quarter. First Light Asset Management LLC increased its position in shares of NeoGenomics by 1.1% in the 4th quarter. First Light Asset Management LLC now owns 10,035,063 shares of the medical research company’s stock worth $118,012,000 after purchasing an additional 107,794 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of NeoGenomics in the 4th quarter worth about $10,414,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Insiders Place Their Bets

In other NeoGenomics news, Director Lynn A. Tetrault sold 5,307 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $11.29, for a total transaction of $59,916.03. Following the completion of the transaction, the director directly owned 91,422 shares of the company’s stock, valued at $1,032,154.38. The trade was a 5.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is currently owned by corporate insiders.

NeoGenomics Trading Down 1.8%

Shares of NASDAQ NEO opened at $14.24 on Thursday. NeoGenomics, Inc. has a 12-month low of $4.72 and a 12-month high of $15.57. The company has a market cap of $1.85 billion, a price-to-earnings ratio of -18.49 and a beta of 1.74. 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 stock’s 50 day simple moving average is $10.86 and its 200 day simple moving average is $10.46.

NeoGenomics (NASDAQ:NEO) last issued its earnings results on Tuesday, April 28th. The medical research company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. NeoGenomics had a negative return on equity of 2.80% and a negative net margin of 13.30%.The firm had revenue of $186.67 million for the quarter, compared to analyst estimates of $184.54 million. NeoGenomics’s quarterly revenue was up 11.3% compared to the same quarter last year. Equities research analysts expect that NeoGenomics, Inc. will post -0.15 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on NEO. William Blair reiterated a “market perform” rating on shares of NeoGenomics in a research note on Monday, March 16th. Wall Street Zen upgraded NeoGenomics from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. Benchmark raised NeoGenomics from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Wednesday, April 29th. TD Cowen raised their price objective on NeoGenomics from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Finally, Leerink Partners upgraded shares of NeoGenomics from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $12.00 to $25.00 in a research note on Wednesday, April 29th. Six equities research 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $13.86.

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.