Algert Global LLC Boosts Stock Holdings in NeoGenomics, Inc. (NASDAQ:NEO)

Algert Global LLC raised its holdings in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 204.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,983 shares of the medical research company’s stock after buying an additional 53,700 shares during the period. Algert Global LLC owned about 0.06% of NeoGenomics worth $1,180,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NEO. First Light Asset Management LLC boosted its holdings in shares of 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 during the period. Jennison Associates LLC boosted its holdings in shares of NeoGenomics by 4.7% during the third quarter. Jennison Associates LLC now owns 1,276,468 shares of the medical research company’s stock worth $18,828,000 after purchasing an additional 57,041 shares during the period. Blue Trust Inc. boosted its holdings in shares of NeoGenomics by 42.3% during the third quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company’s stock worth $46,000 after purchasing an additional 987 shares during the period. Sei Investments Co. boosted its holdings in shares of NeoGenomics by 152.6% during the second quarter. Sei Investments Co. now owns 263,761 shares of the medical research company’s stock worth $3,658,000 after purchasing an additional 159,350 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of 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 purchasing an additional 217,687 shares during the period. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on NEO. Needham & Company LLC reissued a “buy” rating and issued a $19.00 price target on shares of NeoGenomics in a research note on Wednesday, November 6th. Benchmark reissued a “buy” rating and issued a $18.00 price target on shares of NeoGenomics in a research note on Tuesday, September 24th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $20.25.

NeoGenomics Price Performance

Shares of NASDAQ NEO opened at $17.74 on Friday. NeoGenomics, Inc. has a fifty-two week low of $12.77 and a fifty-two week high of $21.22. The company has a 50 day simple moving average of $14.72 and a two-hundred day simple moving average of $14.89. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of -29.08 and a beta of 1.19. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.91 and a current ratio of 1.99.

NeoGenomics (NASDAQ:NEO) last announced its earnings results on Tuesday, November 5th. The medical research company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. The business had revenue of $167.80 million during the quarter, compared to the consensus estimate of $167.00 million. During the same quarter last year, the firm earned ($0.06) earnings per share. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. Analysts expect that NeoGenomics, Inc. will post -0.17 EPS for the current fiscal year.

Insider Activity at NeoGenomics

In related news, General Counsel Alicia C. Olivo sold 5,175 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $15.36, for a total transaction of $79,488.00. Following the completion of the sale, the general counsel now owns 37,129 shares of the company’s stock, valued at $570,301.44. This trade represents a 12.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by insiders.

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.