Illinois Municipal Retirement Fund Takes Position in NeoGenomics, Inc. $NEO

Key Points

• Illinois Municipal Retirement Fund initiated a new position in NeoGenomics during the first quarter, buying 75,776 shares worth about $562,000 and representing 0.06% of the company.
• Several other institutional investors also adjusted their stakes, and hedge funds now own 98.5% of NeoGenomics, highlighting heavy institutional ownership.
• Analyst sentiment is mixed but improving: Benchmark lifted its price target to $16 and Leerink Partners raised its target to $25, while the overall consensus rating remains Hold with an average target of $14.57.

Illinois Municipal Retirement Fund bought a new stake in NeoGenomics, Inc. (NASDAQ:NEO - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 75,776 shares of the medical research company's stock, valued at approximately $562,000. Illinois Municipal Retirement Fund owned 0.06% of NeoGenomics as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Aberdeen Group plc boosted its holdings in NeoGenomics by 127.1% during the fourth quarter. Aberdeen Group plc now owns 1,798,939 shares of the medical research company's stock valued at $21,156,000 after purchasing an additional 1,006,676 shares in the last quarter. Granite Investment Partners LLC acquired a new position in shares of NeoGenomics in the 1st quarter worth approximately $5,583,000. Louisiana State Employees Retirement System acquired a new position in shares of NeoGenomics in the 1st quarter worth approximately $426,000. Y Intercept Hong Kong Ltd lifted its position in shares of NeoGenomics by 67.4% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 139,809 shares of the medical research company's stock worth $1,037,000 after buying an additional 56,284 shares during the period. Finally, GW&K Investment Management LLC lifted its position in shares of NeoGenomics by 7.5% during the 4th quarter. GW&K Investment Management LLC now owns 2,238,767 shares of the medical research company's stock worth $26,328,000 after buying an additional 155,882 shares during the period. Institutional investors and hedge funds own 98.50% of the company's stock.

Insider Buying and Selling at NeoGenomics

In related 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 completion of 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.10% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Benchmark upped their price target on NeoGenomics from $11.00 to $16.00 and gave the company a "buy" rating in a research report on Friday. Weiss Ratings upgraded NeoGenomics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, July 14th. Leerink Partners raised NeoGenomics from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $12.00 to $25.00 in a report on Wednesday, April 29th. Wall Street Zen upgraded shares of NeoGenomics from a "hold" rating to a "buy" rating in a research note on Saturday, June 27th. Finally, TD Cowen reaffirmed a "buy" rating on shares of NeoGenomics in a report on Wednesday, July 15th. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $14.57.

NeoGenomics Stock Down 2.5%

Shares of NEO opened at $13.89 on Friday. The company has a market capitalization of $1.81 billion, a P/E ratio of -18.04 and a beta of 1.74. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.42 and a quick ratio of 4.06. NeoGenomics, Inc. has a one year low of $4.72 and a one year high of $15.57. The business's 50 day simple moving average is $12.19 and its 200-day simple moving average is $10.65.

NeoGenomics (NASDAQ:NEO - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The medical research company reported $0.01 earnings per share for the quarter, meeting analysts' consensus estimates of $0.01. The firm had revenue of $186.67 million during the quarter, compared to analysts' expectations of $184.54 million. NeoGenomics had a negative return on equity of 2.80% and a negative net margin of 13.30%.NeoGenomics's quarterly revenue was up 11.3% compared to the same quarter last year. As a group, sell-side analysts predict that NeoGenomics, Inc. will post -0.15 EPS for the current fiscal 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.

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