Inspire Investing LLC Boosts Stock Position in NeoGenomics, Inc. (NASDAQ:NEO)

Inspire Investing LLC grew its holdings in NeoGenomics, Inc. (NASDAQ:NEO) by 12.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,094 shares of the medical research company’s stock after buying an additional 3,006 shares during the quarter. Inspire Investing LLC’s holdings in NeoGenomics were worth $414,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Arizona State Retirement System increased its position in shares of NeoGenomics by 2.0% during the second quarter. Arizona State Retirement System now owns 35,739 shares of the medical research company’s stock worth $496,000 after purchasing an additional 708 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in shares of NeoGenomics by 2.9% during the second quarter. Crossmark Global Holdings Inc. now owns 29,494 shares of the medical research company’s stock worth $409,000 after purchasing an additional 842 shares in the last quarter. Banque Cantonale Vaudoise increased its position in shares of NeoGenomics by 6.6% during the first quarter. Banque Cantonale Vaudoise now owns 15,942 shares of the medical research company’s stock worth $251,000 after purchasing an additional 993 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of NeoGenomics by 3.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 32,505 shares of the medical research company’s stock worth $451,000 after purchasing an additional 1,030 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its position in shares of NeoGenomics by 1.9% during the second quarter. Louisiana State Employees Retirement System now owns 64,300 shares of the medical research company’s stock worth $892,000 after purchasing an additional 1,200 shares in the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NEO. Stephens reiterated an “overweight” rating and set a $19.00 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 Wednesday, September 25th. Finally, Benchmark restated a “buy” rating and issued a $18.00 target price on shares of NeoGenomics in a report on Tuesday, September 24th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $19.89.

NeoGenomics Stock Performance

Shares of NeoGenomics stock opened at $13.83 on Thursday. NeoGenomics, Inc. has a 52 week low of $12.51 and a 52 week high of $21.22. The business’s fifty day simple moving average is $15.51 and its 200-day simple moving average is $14.81. The firm has a market cap of $1.77 billion, a PE ratio of -20.95 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 (NASDAQ:NEO) last announced its quarterly earnings results on Monday, July 29th. The medical research company reported $0.03 EPS for the quarter. NeoGenomics had a negative return on equity of 2.72% and a negative net margin of 12.50%. The business had revenue of $164.50 million for the quarter, compared to analyst estimates of $161.82 million. During the same quarter in the prior year, the company posted ($0.09) EPS. The company’s quarterly revenue was up 12.0% on a year-over-year basis. Equities analysts forecast that NeoGenomics, Inc. will post -0.21 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.