Verition Fund Management LLC Makes New Investment in NeoGenomics, Inc. (NASDAQ:NEO)

Verition Fund Management LLC acquired a new stake in NeoGenomics, Inc. (NASDAQ:NEO) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 15,510 shares of the medical research company’s stock, valued at approximately $229,000.

Other hedge funds have also made changes to their positions in the company. Loomis Sayles & Co. L P acquired a new stake in NeoGenomics in the third quarter worth approximately $17,807,000. Segall Bryant & Hamill LLC lifted its holdings in shares of NeoGenomics by 67.0% in the third quarter. Segall Bryant & Hamill LLC now owns 1,893,407 shares of the medical research company’s stock valued at $27,928,000 after buying an additional 759,524 shares during the period. First Light Asset Management LLC boosted its stake 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 valued at $52,464,000 after buying an additional 480,396 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings 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 during the period. Finally, American Century Companies Inc. grew its holdings in NeoGenomics by 5.4% during the second quarter. American Century Companies Inc. now owns 3,261,756 shares of the medical research company’s stock worth $45,241,000 after acquiring an additional 167,145 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NEO. Bank of America upped their price target on shares of NeoGenomics from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Friday. Jefferies Financial Group assumed coverage on shares of NeoGenomics in a research note on Tuesday, December 10th. They set a “buy” rating and a $22.00 target price for the company. Benchmark restated a “buy” rating and issued a $18.00 price target on shares of NeoGenomics in a research report on Tuesday, September 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 price target on shares of NeoGenomics in a report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.30.

Insider Activity at NeoGenomics

In related news, General Counsel Alicia C. Olivo sold 5,175 shares of the business’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 transaction, the general counsel now directly owns 37,129 shares of the company’s stock, valued at approximately $570,301.44. The trade was a 12.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.30% of the stock is owned by insiders.

NeoGenomics Stock Performance

NeoGenomics stock opened at $17.73 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.99 and a quick ratio of 1.91. The company has a market cap of $2.28 billion, a P/E ratio of -29.07 and a beta of 1.24. NeoGenomics, Inc. has a fifty-two week low of $12.77 and a fifty-two week high of $21.22. The firm’s 50 day simple moving average is $15.39 and its 200-day simple moving average is $15.14.

NeoGenomics (NASDAQ:NEO) last announced its earnings results on Tuesday, November 5th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. The company had revenue of $167.80 million for the quarter, compared to the consensus estimate of $167.00 million. NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. The company’s revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.06) EPS. As a group, equities research analysts predict that NeoGenomics, Inc. will post -0.16 EPS for the current year.

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.