Louisiana State Employees Retirement System Takes $426,000 Position in NeoGenomics, Inc. $NEO

Louisiana State Employees Retirement System acquired a new stake in shares of NeoGenomics, Inc. (NASDAQ:NEO) during the first quarter, HoldingsChannel reports. The firm acquired 57,400 shares of the medical research company’s stock, valued at approximately $426,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NEO. First Horizon Corp raised its position in shares of NeoGenomics by 52.6% during the 4th quarter. First Horizon Corp now owns 2,509 shares of the medical research company’s stock worth $30,000 after buying an additional 865 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of NeoGenomics during the second quarter valued at approximately $32,000. Caitong International Asset Management Co. Ltd raised its holdings in NeoGenomics by 110.2% during 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 in the last quarter. Kestra Advisory Services LLC bought a new stake in NeoGenomics during the fourth quarter worth approximately $39,000. Finally, GAMMA Investing LLC lifted its position in NeoGenomics by 68.2% in the fourth 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 period. Institutional investors own 98.50% of the company’s stock.

NeoGenomics Stock Down 1.8%

NEO stock opened at $14.24 on Thursday. The firm has a market cap of $1.85 billion, a PE ratio of -18.49 and a beta of 1.74. NeoGenomics, Inc. has a 12 month low of $4.72 and a 12 month high of $15.57. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.42 and a quick ratio of 4.06. The firm has a 50 day simple moving average of $10.86 and a 200 day simple moving average of $10.46.

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

Insider Buying and Selling at NeoGenomics

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Leerink Partners raised NeoGenomics from a “market perform” rating to an “outperform” rating and increased their price target for the company from $12.00 to $25.00 in a research note on Wednesday, April 29th. TD Cowen upped their price objective on NeoGenomics from $13.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Weiss Ratings lowered NeoGenomics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 29th. Wall Street Zen raised NeoGenomics from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. Finally, Benchmark raised NeoGenomics from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Wednesday, April 29th. Six investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $13.86.

About NeoGenomics

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.