American Capital Management Inc. Acquires New Holdings in NeoGenomics, Inc. $NEO

Key Points

• American Capital Management acquired 2.24 million NeoGenomics shares worth approximately $32.6 million, representing about 1.74% of the company and 1.5% of its portfolio. Institutional investors collectively own 98.5% of NEO.
• Analyst sentiment is broadly positive: NeoGenomics has a consensus “Moderate Buy” rating and a $16.71 average price target, with several firms maintaining or upgrading the stock to Buy or Strong Buy.
• NeoGenomics beat quarterly expectations with adjusted EPS of $0.05 versus $0.03 estimated and revenue of $201.66 million, up 11.2% year over year. Shares opened at $17.37, near their 52-week high of $17.46.

American Capital Management Inc. bought a new stake in shares of NeoGenomics, Inc. (NASDAQ:NEO - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 2,237,707 shares of the medical research company's stock, valued at approximately $32,648,000. NeoGenomics makes up about 1.5% of American Capital Management Inc.'s portfolio, making the stock its 27th biggest position. American Capital Management Inc. owned approximately 1.74% of NeoGenomics as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Royal Bank of Canada increased its position in NeoGenomics by 51.2% during the first quarter. Royal Bank of Canada now owns 56,026 shares of the medical research company's stock worth $532,000 after buying an additional 18,966 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of NeoGenomics in the first quarter valued at $271,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of NeoGenomics by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 75,798 shares of the medical research company's stock valued at $719,000 after acquiring an additional 3,254 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of NeoGenomics by 19.7% during the first quarter. Intech Investment Management LLC now owns 151,806 shares of the medical research company's stock valued at $1,441,000 after acquiring an additional 24,965 shares during the last quarter. Finally, Creative Planning increased its position in NeoGenomics by 20.4% during the 2nd quarter. Creative Planning now owns 16,735 shares of the medical research company's stock worth $122,000 after purchasing an additional 2,840 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NEO shares. Wall Street Zen upgraded shares of NeoGenomics from a "hold" rating to a "buy" rating in a report on Saturday, June 27th. Needham & Company LLC upped their price objective on shares of NeoGenomics from $15.00 to $19.00 and gave the company a "buy" rating in a research note on Wednesday, July 29th. Zacks Research upgraded shares of NeoGenomics from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 31st. TD Cowen reaffirmed a "buy" rating on shares of NeoGenomics in a research note on Wednesday, July 15th. Finally, Craig Hallum reiterated a "buy" rating and issued a $19.00 price target on shares of NeoGenomics in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.71.

NeoGenomics Stock Up 3.5%

Shares of NEO opened at $17.37 on Thursday. NeoGenomics, Inc. has a fifty-two week low of $6.65 and a fifty-two week high of $17.46. The company's fifty day moving average is $14.87 and its two-hundred day moving average is $11.20. The firm has a market cap of $2.23 billion, a PE ratio of -43.42 and a beta of 1.74. The company has a quick ratio of 3.35, a current ratio of 3.60 and a debt-to-equity ratio of 0.48.

NeoGenomics (NASDAQ:NEO - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The medical research company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.02. NeoGenomics had a negative return on equity of 1.99% and a negative net margin of 6.77%.The business had revenue of $201.66 million during the quarter, compared to the consensus estimate of $196.93 million. During the same period in the prior year, the firm posted $0.03 EPS. The business's revenue for the quarter was up 11.2% on a year-over-year basis. Analysts forecast that NeoGenomics, Inc. will post -0.09 earnings per share for the current year.

Insider Buying and Selling at NeoGenomics

In other news, Director Lynn A. Tetrault sold 5,307 shares of NeoGenomics stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $11.29, for a total value 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is owned by corporate insiders.

NeoGenomics Company 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.

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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