MFG Wealth Management Inc. Takes $1.22 Million Position in NeoGenomics, Inc. $NEO

MFG Wealth Management Inc. purchased a new stake in NeoGenomics, Inc. (NASDAQ:NEO) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 83,462 shares of the medical research company’s stock, valued at approximately $1,218,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NEO. Sei Investments Co. raised its position in NeoGenomics by 320.7% during the first quarter. Sei Investments Co. now owns 466,199 shares of the medical research company’s stock worth $3,459,000 after acquiring an additional 355,379 shares during the period. Granite Investment Partners LLC acquired a new stake in shares of NeoGenomics in the first quarter valued at about $5,583,000. Gamco Investors INC. ET AL increased its stake in shares of NeoGenomics by 525.0% during the first quarter. Gamco Investors INC. ET AL now owns 100,000 shares of the medical research company’s stock worth $742,000 after purchasing an additional 84,000 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of NeoGenomics by 9.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,674,335 shares of the medical research company’s stock worth $19,842,000 after purchasing an additional 225,588 shares in the last quarter. Finally, First Trust Advisors LP acquired a new position in shares of NeoGenomics during the 1st quarter worth about $45,725,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Insider Activity at NeoGenomics

In related news, Director Lynn A. Tetrault sold 5,307 shares of NeoGenomics stock in a transaction that occurred on Tuesday, June 9th. The stock was 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 in the company, valued at approximately $1,032,154.38. This trade represents a 5.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NEO. Zacks Research raised shares of NeoGenomics from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. TD Cowen restated a “buy” rating on shares of NeoGenomics in a research report on Wednesday, July 15th. Benchmark lifted their price target on NeoGenomics from $11.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Craig Hallum reiterated a “buy” rating and set a $19.00 price target on shares of NeoGenomics in a research report on Wednesday, July 29th. Finally, Weiss Ratings raised NeoGenomics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.71.

NeoGenomics Stock Up 6.5%

Shares of NASDAQ NEO opened at $16.57 on Friday. The stock has a market cap of $2.13 billion, a PE ratio of -41.42 and a beta of 1.74. The company has a current ratio of 3.60, a quick ratio of 3.35 and a debt-to-equity ratio of 0.48. NeoGenomics, Inc. has a 12-month low of $5.63 and a 12-month high of $16.60. The company has a 50-day moving average of $13.40 and a 200 day moving average of $10.83.

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