Sei Investments Co. Has $3.46 Million Stake in NeoGenomics, Inc. $NEO

Sei Investments Co. grew its stake in NeoGenomics, Inc. (NASDAQ:NEO) by 320.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 466,199 shares of the medical research company’s stock after buying an additional 355,379 shares during the period. Sei Investments Co.’s holdings in NeoGenomics were worth $3,459,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. First Trust Advisors LP bought a new position in shares of NeoGenomics in the 1st quarter valued at approximately $45,725,000. Dimensional Fund Advisors LP grew its stake in NeoGenomics by 9.2% in the 1st 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 last quarter. Illinois Municipal Retirement Fund acquired a new position in NeoGenomics in the 1st quarter valued at $562,000. Principal Financial Group Inc. raised its holdings in NeoGenomics by 2.0% in the 1st quarter. Principal Financial Group Inc. now owns 629,291 shares of the medical research company’s stock worth $4,669,000 after acquiring an additional 12,382 shares during the period. Finally, Fifth Third Bancorp lifted its position in NeoGenomics by 1,054.8% during the 1st quarter. Fifth Third Bancorp now owns 33,583 shares of the medical research company’s stock worth $249,000 after acquiring an additional 30,675 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

NeoGenomics Price Performance

Shares of NeoGenomics stock opened at $15.56 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. NeoGenomics, Inc. has a fifty-two week low of $5.62 and a fifty-two week high of $16.45. The firm has a fifty day moving average price of $13.28 and a two-hundred day moving average price of $10.79. The company has a market cap of $2.00 billion, a PE ratio of -38.90 and a beta of 1.74.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data on Tuesday, July 28th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. The company 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 business’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.03 EPS. Analysts expect that NeoGenomics, Inc. will post -0.09 EPS for the current year.

Insiders Place Their Bets

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 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 trade represents a 5.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Craig Hallum restated a “buy” rating and set a $19.00 price target on shares of NeoGenomics in a report on Wednesday, July 29th. Needham & Company LLC lifted their price objective on NeoGenomics from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Benchmark boosted their price objective on NeoGenomics from $11.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. TD Cowen restated a “buy” rating on shares of NeoGenomics in a research note on Wednesday, July 15th. Finally, Leerink Partners raised NeoGenomics from a “market perform” rating to an “outperform” rating and raised their target price for the company from $12.00 to $25.00 in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.71.

About NeoGenomics

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.