NeoGenomics, Inc. $NEO Stock Position Raised by Sei Investments Co.

Sei Investments Co. increased its stake in NeoGenomics, Inc. (NASDAQ:NEO) by 320.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 466,199 shares of the medical research company’s stock after acquiring an additional 355,379 shares during the quarter. Sei Investments Co. owned approximately 0.36% of NeoGenomics worth $3,459,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NEO. First Trust Advisors LP acquired a new position in shares of NeoGenomics in the 1st quarter valued at $45,725,000. Dimensional Fund Advisors LP raised its holdings in NeoGenomics by 9.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,674,335 shares of the medical research company’s stock worth $19,842,000 after buying an additional 225,588 shares during the period. Illinois Municipal Retirement Fund purchased a new stake in NeoGenomics during the first quarter valued at about $562,000. Principal Financial Group Inc. lifted its stake in NeoGenomics by 2.0% during the first quarter. Principal Financial Group Inc. now owns 629,291 shares of the medical research company’s stock valued at $4,669,000 after buying an additional 12,382 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in shares of NeoGenomics by 1,054.8% in the first quarter. Fifth Third Bancorp now owns 33,583 shares of the medical research company’s stock worth $249,000 after buying an additional 30,675 shares during the period. 98.50% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at NeoGenomics

In other NeoGenomics news, Director Lynn A. Tetrault sold 5,307 shares of NeoGenomics stock in a transaction 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 completion of the sale, 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 sale was disclosed in a filing 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 insiders.

Wall Street Analysts Forecast Growth

NEO has been the topic of several analyst reports. Craig Hallum reissued a “buy” rating and issued a $19.00 target price on shares of NeoGenomics in a research report on Wednesday, July 29th. Benchmark upped their price target on shares of NeoGenomics from $11.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Needham & Company LLC raised their price objective on shares of NeoGenomics from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Weiss Ratings upgraded shares of NeoGenomics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. Finally, Zacks Research raised shares of NeoGenomics from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.71.

NeoGenomics Price Performance

Shares of NEO opened at $15.56 on Friday. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of -38.90 and a beta of 1.74. NeoGenomics, Inc. has a fifty-two week low of $5.62 and a fifty-two week high of $16.45. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.60 and a quick ratio of 3.35. The business’s 50-day moving average is $13.28 and its 200-day moving average is $10.79.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results on Tuesday, July 28th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. NeoGenomics had a negative net margin of 6.77% and a negative return on equity of 1.99%. The business had revenue of $201.66 million during the quarter, compared to analyst estimates of $196.93 million. During the same period in the prior year, the firm earned $0.03 earnings per share. The firm’s revenue was up 11.2% compared to the same quarter last year. Equities research analysts expect that NeoGenomics, Inc. will post -0.09 EPS for the current fiscal year.

NeoGenomics Company 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.