Teacher Retirement System of Texas Makes New $178,000 Investment in NeoGenomics, Inc. (NASDAQ:NEO)

Teacher Retirement System of Texas acquired a new stake in NeoGenomics, Inc. (NASDAQ:NEO) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 18,763 shares of the medical research company’s stock, valued at approximately $178,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sterling Capital Management LLC lifted its stake in NeoGenomics by 788.7% in the fourth quarter. Sterling Capital Management LLC now owns 3,706 shares of the medical research company’s stock worth $61,000 after acquiring an additional 3,289 shares during the last quarter. Sherbrooke Park Advisers LLC purchased a new stake in NeoGenomics in the fourth quarter valued at approximately $183,000. Cibc World Markets Corp acquired a new stake in NeoGenomics during the 4th quarter worth $197,000. Summit Investment Advisors Inc. grew its position in NeoGenomics by 6.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 13,339 shares of the medical research company’s stock worth $220,000 after purchasing an additional 863 shares during the last quarter. Finally, Chicago Capital LLC grew its position in NeoGenomics by 46.6% during the 1st quarter. Chicago Capital LLC now owns 24,007 shares of the medical research company’s stock worth $228,000 after purchasing an additional 7,627 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Insider Activity at NeoGenomics

In other news, CEO Anthony P. Zook acquired 18,900 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The stock was acquired at an average cost of $7.88 per share, for a total transaction of $148,932.00. Following the completion of the acquisition, the chief executive officer owned 18,900 shares in the company, valued at $148,932. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephen M. Kanovsky purchased 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The shares were purchased at an average cost of $7.78 per share, with a total value of $31,120.00. Following the completion of the acquisition, the director owned 40,090 shares in the company, valued at $311,900.20. The trade was a 11.08% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 70,600 shares of company stock valued at $550,438 over the last 90 days. Insiders own 2.40% of the company’s stock.

NeoGenomics Stock Performance

Shares of NASDAQ NEO opened at $6.24 on Monday. The business has a fifty day simple moving average of $7.39 and a 200 day simple moving average of $9.95. The company has a current ratio of 2.05, a quick ratio of 1.95 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $803.06 million, a price-to-earnings ratio of -10.23 and a beta of 1.63. NeoGenomics, Inc. has a one year low of $6.08 and a one year high of $19.12.

NeoGenomics (NASDAQ:NEO) last announced its earnings results on Tuesday, April 29th. The medical research company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.06). NeoGenomics had a negative return on equity of 2.21% and a negative net margin of 11.54%. The business had revenue of $168.04 million for the quarter, compared to the consensus estimate of $171.38 million. During the same quarter in the previous year, the company posted ($0.02) EPS. NeoGenomics’s revenue for the quarter was up 7.6% on a year-over-year basis. Sell-side analysts expect that NeoGenomics, Inc. will post -0.2 EPS for the current year.

Analyst Upgrades and Downgrades

NEO has been the topic of several recent research reports. Leerink Partners cut shares of NeoGenomics from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $25.00 to $9.00 in a research note on Wednesday, April 30th. Piper Sandler set a $12.00 price target on shares of NeoGenomics and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. Wall Street Zen upgraded shares of NeoGenomics from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. Needham & Company LLC reduced their target price on shares of NeoGenomics from $18.00 to $8.50 and set a “buy” rating on the stock in a report on Tuesday, April 29th. Finally, Guggenheim began coverage on shares of NeoGenomics in a report on Thursday, May 15th. They issued a “neutral” rating on the stock. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $13.83.

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.