First Trust Advisors LP Makes New Investment in NeoGenomics, Inc. $NEO

First Trust Advisors LP acquired a new stake in NeoGenomics, Inc. (NASDAQ:NEO) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,162,371 shares of the medical research company’s stock, valued at approximately $45,725,000. First Trust Advisors LP owned 4.73% of NeoGenomics at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Horizon Corp lifted its position in shares of NeoGenomics by 52.6% during the 4th quarter. First Horizon Corp now owns 2,509 shares of the medical research company’s stock valued at $30,000 after buying an additional 865 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in NeoGenomics by 1.7% in the 4th quarter. State of Alaska Department of Revenue now owns 73,044 shares of the medical research company’s stock worth $858,000 after acquiring an additional 1,215 shares in the last quarter. Choreo LLC increased its holdings in NeoGenomics by 2.2% in the 4th quarter. Choreo LLC now owns 61,462 shares of the medical research company’s stock worth $752,000 after acquiring an additional 1,313 shares in the last quarter. GAMMA Investing LLC raised its position in NeoGenomics by 68.2% during the fourth quarter. GAMMA Investing LLC now owns 3,602 shares of the medical research company’s stock worth $42,000 after acquiring an additional 1,460 shares during the period. Finally, Entropy Technologies LP raised its position in NeoGenomics by 6.9% during the fourth quarter. Entropy Technologies LP now owns 23,037 shares of the medical research company’s stock worth $271,000 after acquiring an additional 1,480 shares during the period. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other NeoGenomics news, Director Lynn A. Tetrault sold 5,307 shares of NeoGenomics stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $11.29, for a total transaction of $59,916.03. Following the transaction, the director directly owned 91,422 shares of the company’s stock, valued at $1,032,154.38. The trade was a 5.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Weiss Ratings upgraded NeoGenomics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. TD Cowen restated a “buy” rating on shares of NeoGenomics in a research report on Wednesday, July 15th. Wall Street Zen raised NeoGenomics from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. Leerink Partners raised NeoGenomics from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $12.00 to $25.00 in a research note on Wednesday, April 29th. Finally, Benchmark boosted their price target on NeoGenomics from $11.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, NeoGenomics presently has a consensus rating of “Hold” and a consensus target price of $14.57.

NeoGenomics Price Performance

Shares of NEO opened at $13.89 on Monday. NeoGenomics, Inc. has a 52-week low of $4.72 and a 52-week high of $15.57. The company has a market capitalization of $1.81 billion, a PE ratio of -18.04 and a beta of 1.74. The stock has a fifty day simple moving average of $12.19 and a two-hundred day simple moving average of $10.64. The company has a quick ratio of 4.06, a current ratio of 4.42 and a debt-to-equity ratio of 0.41.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results on Tuesday, April 28th. The medical research company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. NeoGenomics had a negative return on equity of 2.80% and a negative net margin of 13.30%.The business had revenue of $186.67 million for the quarter, compared to analyst estimates of $184.54 million. The company’s quarterly revenue was up 11.3% on a year-over-year basis. As a group, equities analysts forecast that NeoGenomics, Inc. will post -0.15 EPS for the current year.

NeoGenomics Profile

NeoGenomics, traded on the Nasdaq under the symbol NEO, is a leading provider of cancer-focused genetic and molecular testing services. Headquartered in Fort Myers, Florida, the company operates an integrated network of CAP-accredited and CLIA-certified laboratories across the United States, Europe and Asia. NeoGenomics delivers diagnostic insights that support oncologists, pathologists and healthcare institutions in the detection, prognosis and treatment of hematologic and solid tumor cancers.

The company’s core service offerings include flow cytometry, immunohistochemistry, fluorescence in situ hybridization (FISH), karyotyping and advanced molecular assays such as next-generation sequencing (NGS) panels and polymerase chain reaction (PCR) tests.