NeoGenomics, Inc. (NASDAQ:NEO) Shares Bought by Algert Global LLC

Algert Global LLC lifted its stake in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 95.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,283 shares of the medical research company’s stock after purchasing an additional 12,843 shares during the quarter. Algert Global LLC’s holdings in NeoGenomics were worth $365,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company grew its position in NeoGenomics by 4.3% during the second quarter. The Manufacturers Life Insurance Company now owns 70,595 shares of the medical research company’s stock worth $979,000 after buying an additional 2,904 shares during the period. Squarepoint Ops LLC acquired a new position in NeoGenomics during the second quarter worth $517,000. First Light Asset Management LLC boosted its position in NeoGenomics by 14.5% during the second quarter. First Light Asset Management LLC now owns 3,782,561 shares of the medical research company’s stock worth $52,464,000 after purchasing an additional 480,396 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in NeoGenomics by 7.5% in the second quarter. Public Sector Pension Investment Board now owns 280,981 shares of the medical research company’s stock valued at $3,897,000 after purchasing an additional 19,712 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of NeoGenomics by 152.6% in the second quarter. Sei Investments Co. now owns 263,761 shares of the medical research company’s stock valued at $3,658,000 after buying an additional 159,350 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

NeoGenomics Price Performance

NEO stock opened at $13.44 on Wednesday. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of -20.36 and a beta of 1.19. The company has a quick ratio of 1.93, a current ratio of 2.01 and a debt-to-equity ratio of 0.37. NeoGenomics, Inc. has a 52-week low of $11.79 and a 52-week high of $21.22. The stock’s fifty day simple moving average is $15.89 and its 200-day simple moving average is $14.87.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NEO shares. Benchmark reissued a “buy” rating and issued a $18.00 price objective on shares of NeoGenomics in a research note on Tuesday, September 24th. Stephens reiterated an “overweight” rating and issued a $19.00 price target on shares of NeoGenomics in a research report on Tuesday, July 30th. Finally, Needham & Company LLC restated a “buy” rating and set a $19.00 price objective on shares of NeoGenomics in a research report on Wednesday, September 25th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.