Louisiana State Employees Retirement System Purchases New Position in NeoGenomics, Inc. (NASDAQ:NEO)

Louisiana State Employees Retirement System purchased a new stake in shares of NeoGenomics, Inc. (NASDAQ:NEO) in the 4th quarter, Holdings Channel reports. The fund purchased 63,800 shares of the medical research company’s stock, valued at approximately $1,032,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. BluePath Capital Management LLC bought a new position in shares of NeoGenomics in the third quarter worth about $30,000. WINTON GROUP Ltd bought a new position in shares of NeoGenomics in the third quarter worth about $133,000. Corton Capital Inc. bought a new position in shares of NeoGenomics in the third quarter worth about $141,000. Aigen Investment Management LP bought a new position in shares of NeoGenomics in the third quarter worth about $163,000. Finally, Mackenzie Financial Corp bought a new position in shares of NeoGenomics in the third quarter worth about $199,000. 98.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NEO. Needham & Company LLC boosted their price target on shares of NeoGenomics from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. TD Cowen dropped their price target on shares of NeoGenomics from $22.00 to $19.00 and set an “outperform” rating for the company in a research note on Friday, December 29th. BTIG Research dropped their price target on shares of NeoGenomics from $25.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, December 29th. Piper Sandler boosted their price target on shares of NeoGenomics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, February 26th. Finally, William Blair reissued an “outperform” rating on shares of NeoGenomics in a research note on Wednesday, February 21st. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.50.

Insider Activity

In other news, General Counsel Alicia C. Olivo sold 2,587 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $14.96, for a total value of $38,701.52. Following the completion of the transaction, the general counsel now owns 34,866 shares in the company, valued at $521,595.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.

NeoGenomics Stock Down 0.9 %

Shares of NASDAQ NEO opened at $14.03 on Thursday. The stock has a market cap of $1.79 billion, a P/E ratio of -20.04 and a beta of 1.10. The firm has a 50 day moving average price of $15.06 and a 200 day moving average price of $15.89. The company has a debt-to-equity ratio of 0.57, a quick ratio of 5.95 and a current ratio of 6.20. NeoGenomics, Inc. has a 52-week low of $11.03 and a 52-week high of $21.22.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings data on Tuesday, February 20th. The medical research company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. The firm had revenue of $155.55 million during the quarter, compared to analysts’ expectations of $152.90 million. NeoGenomics had a negative net margin of 14.87% and a negative return on equity of 4.13%. Analysts expect that NeoGenomics, Inc. will post -0.2 EPS 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.