Inspire Investing LLC Acquires 2,431 Shares of NeoGenomics, Inc. (NASDAQ:NEO)

Inspire Investing LLC increased its holdings in NeoGenomics, Inc. (NASDAQ:NEO) by 10.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,088 shares of the medical research company’s stock after purchasing an additional 2,431 shares during the period. Inspire Investing LLC’s holdings in NeoGenomics were worth $348,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NEO. Hsbc Holdings PLC raised its holdings in shares of NeoGenomics by 47.0% in the 2nd quarter. Hsbc Holdings PLC now owns 33,581 shares of the medical research company’s stock worth $466,000 after buying an additional 10,732 shares in the last quarter. Edgestream Partners L.P. grew its position in NeoGenomics by 7.6% in the second quarter. Edgestream Partners L.P. now owns 129,589 shares of the medical research company’s stock valued at $1,797,000 after acquiring an additional 9,133 shares during the period. Dimensional Fund Advisors LP raised its stake in NeoGenomics by 7.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,324,624 shares of the medical research company’s stock worth $46,108,000 after acquiring an additional 217,687 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of NeoGenomics by 3.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 32,505 shares of the medical research company’s stock valued at $451,000 after purchasing an additional 1,030 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of NeoGenomics by 8.9% in the 2nd quarter. Federated Hermes Inc. now owns 142,587 shares of the medical research company’s stock valued at $1,978,000 after purchasing an additional 11,599 shares in the last quarter. Institutional investors own 98.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on NEO. Benchmark reissued a “buy” rating and issued a $18.00 target price on shares of NeoGenomics in a report on Tuesday. Needham & Company LLC restated a “buy” rating and set a $19.00 target price on shares of NeoGenomics in a report on Tuesday, July 30th. Finally, Stephens reaffirmed an “overweight” rating and issued a $19.00 price target on shares of NeoGenomics in a report on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, NeoGenomics presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.89.

NeoGenomics Price Performance

Shares of NASDAQ:NEO opened at $15.80 on Wednesday. The company 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 debt-to-equity ratio of 0.37, a quick ratio of 1.93 and a current ratio of 2.01. The company has a market capitalization of $2.02 billion, a PE ratio of -23.94 and a beta of 1.19. NeoGenomics, Inc. has a 52 week low of $11.03 and a 52 week 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 (EPS) for the quarter. The company had revenue of $164.50 million during the quarter, compared to the consensus estimate of $161.82 million. NeoGenomics had a negative return on equity of 2.72% and a negative net margin of 12.50%. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.09) earnings per share. Analysts forecast that NeoGenomics, Inc. will post -0.22 earnings per share for the current year.

About NeoGenomics

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.