MFG Wealth Management Inc. Takes Position in NeoGenomics, Inc. $NEO

Key Points

• MFG Wealth Management initiated a position in NeoGenomics by purchasing 83,462 shares worth approximately $1.22 million, representing about 0.06% of the company. Institutional investors and hedge funds collectively own 98.5% of NeoGenomics’ stock.
• Analysts remain broadly positive, with NeoGenomics receiving a “Moderate Buy” consensus rating and an average price target of $16.71. Recent target increases included Benchmark’s move to $16 and Leerink Partners’ upgrade to “Outperform” with a $25 target.
• NeoGenomics exceeded quarterly expectations, reporting $0.05 in adjusted EPS versus a $0.03 consensus estimate and revenue of $201.66 million, up 11.2% year over year. Shares opened at $16.57, near the company’s 52-week high of $16.60.

MFG Wealth Management Inc. bought a new position in NeoGenomics, Inc. (NASDAQ:NEO - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 83,462 shares of the medical research company's stock, valued at approximately $1,218,000. MFG Wealth Management Inc. owned about 0.06% of NeoGenomics at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Trust Advisors LP purchased a new stake in NeoGenomics during the 1st quarter valued at about $45,725,000. Loomis Sayles & Co. L P purchased a new position in shares of NeoGenomics in the fourth quarter worth about $19,182,000. American Capital Management Inc. raised its stake in shares of NeoGenomics by 120.9% in the third quarter. American Capital Management Inc. now owns 2,345,263 shares of the medical research company's stock worth $18,105,000 after purchasing an additional 1,283,390 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of NeoGenomics by 69.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,218,727 shares of the medical research company's stock worth $26,093,000 after purchasing an additional 912,788 shares during the period. Finally, Trexquant Investment LP acquired a new stake in shares of NeoGenomics during the fourth quarter worth about $10,414,000. Institutional investors and hedge funds own 98.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Benchmark increased their price target on shares of NeoGenomics from $11.00 to $16.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Leerink Partners upgraded shares of 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 research note on Wednesday, April 29th. Craig Hallum reaffirmed a "buy" rating and issued a $19.00 price objective on shares of NeoGenomics in a report on Wednesday, July 29th. Wall Street Zen raised shares of NeoGenomics from a "hold" rating to a "buy" rating in a report on Saturday, June 27th. Finally, Needham & Company LLC boosted their target price on shares of NeoGenomics from $15.00 to $19.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $16.71.

NeoGenomics Price Performance

NASDAQ:NEO opened at $16.57 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.60 and a quick ratio of 3.35. The company has a 50 day moving average price of $13.40 and a 200-day moving average price of $10.83. NeoGenomics, Inc. has a 1-year low of $5.63 and a 1-year high of $16.60. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of -41.42 and a beta of 1.74.

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

Insider Activity

In other news, Director Lynn A. Tetrault sold 5,307 shares of the 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 sale, the director directly owned 91,422 shares of the company's stock, valued at $1,032,154.38. This represents a 5.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is currently owned by 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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