First Light Asset Management LLC Acquires 480,396 Shares of NeoGenomics, Inc. (NASDAQ:NEO)

First Light Asset Management LLC lifted its holdings in NeoGenomics, Inc. (NASDAQ:NEO) by 14.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,782,561 shares of the medical research company’s stock after buying an additional 480,396 shares during the quarter. NeoGenomics accounts for 4.6% of First Light Asset Management LLC’s portfolio, making the stock its 4th biggest holding. First Light Asset Management LLC owned 2.96% of NeoGenomics worth $52,464,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Public Sector Pension Investment Board boosted its holdings in NeoGenomics by 7.5% during the second quarter. Public Sector Pension Investment Board now owns 280,981 shares of the medical research company’s stock worth $3,897,000 after buying an additional 19,712 shares in the last quarter. Sei Investments Co. lifted its position in shares of NeoGenomics by 152.6% during the 2nd quarter. Sei Investments Co. now owns 263,761 shares of the medical research company’s stock valued at $3,658,000 after acquiring an additional 159,350 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of NeoGenomics in the 2nd quarter worth approximately $57,000. Intech Investment Management LLC purchased a new position in shares of NeoGenomics in the second quarter valued at $420,000. Finally, Inspire Investing LLC increased its holdings in NeoGenomics by 10.7% during the 2nd quarter. Inspire Investing LLC now owns 25,088 shares of the medical research company’s stock valued at $348,000 after acquiring an additional 2,431 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

NeoGenomics Price Performance

NEO stock opened at $15.80 on Tuesday. The stock has a 50-day moving average price of $16.07 and a two-hundred day moving average price of $14.94. The company has a market cap of $2.02 billion, a PE ratio of -23.94 and a beta of 1.19. The company has a current ratio of 2.01, a quick ratio of 1.93 and a debt-to-equity ratio of 0.37. NeoGenomics, Inc. has a 12-month low of $11.03 and a 12-month high of $21.22.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings results on Monday, July 29th. The medical research company reported $0.03 earnings per share for the quarter. NeoGenomics had a negative net margin of 12.50% and a negative return on equity of 2.72%. The firm had revenue of $164.50 million for the quarter, compared to analysts’ expectations of $161.82 million. During the same period in the previous year, the company posted ($0.09) earnings per share. NeoGenomics’s revenue was up 12.0% compared to the same quarter last year. As a group, research analysts predict that NeoGenomics, Inc. will post -0.22 EPS for the current year.

Wall Street Analyst Weigh In

NEO has been the topic of several research reports. Benchmark reiterated a “buy” rating and issued a $18.00 price target on shares of NeoGenomics in a research report on Tuesday, July 30th. Needham & Company LLC restated a “buy” rating and issued a $19.00 target price on shares of NeoGenomics in a report on Tuesday, July 30th. Finally, Stephens reiterated an “overweight” rating and set a $19.00 price target on shares of NeoGenomics in a report on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.89.

NeoGenomics Company Profile

NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States and the United Kingdom. It operates through Clinical Services and Advanced Diagnostics segments. The company offers testing services to hospitals, academic centers, pathologists, oncologists, clinicians, pharmaceutical companies, and clinical laboratories.