Squarepoint Ops LLC Purchases 120,342 Shares of NeoGenomics, Inc. $NEO

Key Points

• Squarepoint Ops LLC more than doubled its NeoGenomics stake in the second quarter, adding 120,342 shares to own 222,036 shares worth approximately $3.24 million. Institutional investors and hedge funds collectively hold 98.5% of the company’s stock.
• Analyst sentiment is broadly positive, with NeoGenomics receiving a “Moderate Buy” consensus rating and an average price target of $17.67. Several firms recently upgraded the stock or raised their targets, including Needham to $19 and Benchmark to $16.
• NeoGenomics exceeded quarterly expectations, reporting $0.05 in earnings per share versus the $0.03 consensus estimate and revenue of $201.66 million, up 11.2% year over year. Shares opened at $17.32, compared with a 52-week range of $7.07 to $19.76.

Squarepoint Ops LLC grew its position in NeoGenomics, Inc. (NASDAQ:NEO - Free Report) by 118.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 222,036 shares of the medical research company's stock after acquiring an additional 120,342 shares during the period. Squarepoint Ops LLC owned about 0.17% of NeoGenomics worth $3,240,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of NEO. First Light Asset Management LLC lifted its stake in NeoGenomics by 1.1% in the 4th quarter. First Light Asset Management LLC now owns 10,035,063 shares of the medical research company's stock valued at $118,012,000 after purchasing an additional 107,794 shares during the last quarter. First Trust Advisors LP acquired a new position in NeoGenomics during the first quarter worth approximately $45,725,000. Geode Capital Management LLC raised its stake in NeoGenomics by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 3,176,644 shares of the medical research company's stock valued at $37,364,000 after buying an additional 44,733 shares during the period. Dimensional Fund Advisors LP raised its stake in NeoGenomics by 9.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,674,335 shares of the medical research company's stock valued at $19,842,000 after buying an additional 225,588 shares during the period. Finally, American Capital Management Inc. lifted its position 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 valued at $18,105,000 after buying an additional 1,283,390 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on NEO shares. TD Cowen restated a "buy" rating on shares of NeoGenomics in a research note on Wednesday, July 15th. Zacks Research raised shares of NeoGenomics from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 31st. 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 increased their price objective 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. Finally, Benchmark raised their target price on shares of NeoGenomics from $11.00 to $16.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, NeoGenomics currently has an average rating of "Moderate Buy" and a consensus target price of $17.67.

NeoGenomics Stock Performance

Shares of NEO stock opened at $17.32 on Monday. The stock has a market cap of $2.23 billion, a P/E ratio of -43.30 and a beta of 1.75. NeoGenomics, Inc. has a 1 year low of $7.07 and a 1 year high of $19.76. The company has a current ratio of 3.60, a quick ratio of 3.35 and a debt-to-equity ratio of 0.48. The stock has a 50 day simple moving average of $15.91 and a 200 day simple moving average of $11.76.

NeoGenomics (NASDAQ:NEO - Get Free Report) last posted 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. The firm had revenue of $201.66 million for the quarter, compared to analyst estimates of $196.93 million. NeoGenomics had a negative return on equity of 1.99% and a negative net margin of 6.77%.The company's revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the company earned $0.03 EPS. On average, research analysts predict that NeoGenomics, Inc. will post -0.09 earnings per share for the current fiscal year.

About NeoGenomics

NeoGenomics, Inc is a provider of cancer-focused diagnostic testing and contract research services. The company operates clinical laboratories that support physicians, hospitals and other healthcare organizations with information used to help diagnose, classify and monitor cancer.

Its testing services include anatomic pathology, immunohistochemistry, flow cytometry, cytogenetics, fluorescence in situ hybridization, molecular testing and next-generation sequencing. NeoGenomics also provides biopharmaceutical companies with clinical trial testing, central laboratory services, biomarker development and other research services intended to support the development of oncology therapies and companion diagnostics.

Founded in 1999, NeoGenomics serves healthcare providers and pharmaceutical and biotechnology customers primarily in the United States, with additional capabilities supporting international clinical research programs.

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