Arizona State Retirement System Boosts Stake in NeoGenomics, Inc. (NASDAQ:NEO)

Arizona State Retirement System grew its stake in NeoGenomics, Inc. (NASDAQ:NEO – Get Rating) by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,721 shares of the medical research company’s stock after buying an additional 1,513 shares during the period. Arizona State Retirement System’s holdings in NeoGenomics were worth $312,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of NeoGenomics by 0.9% in the first quarter. Vanguard Group Inc. now owns 12,970,503 shares of the medical research company’s stock valued at $157,592,000 after purchasing an additional 113,534 shares during the period. Brown Advisory Inc. boosted its holdings in NeoGenomics by 7.2% in the 3rd quarter. Brown Advisory Inc. now owns 6,180,735 shares of the medical research company’s stock valued at $53,215,000 after purchasing an additional 413,085 shares during the last quarter. State Street Corp boosted its holdings in NeoGenomics by 2.8% in the 3rd quarter. State Street Corp now owns 4,217,160 shares of the medical research company’s stock valued at $36,310,000 after purchasing an additional 116,802 shares during the last quarter. Macquarie Group Ltd. raised its stake in shares of NeoGenomics by 1.8% in the 3rd quarter. Macquarie Group Ltd. now owns 1,918,276 shares of the medical research company’s stock valued at $16,524,000 after acquiring an additional 33,262 shares during the period. Finally, Emerald Mutual Fund Advisers Trust raised its stake in shares of NeoGenomics by 115.4% in the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 1,654,543 shares of the medical research company’s stock valued at $15,288,000 after acquiring an additional 886,357 shares during the period. Hedge funds and other institutional investors own 88.15% of the company’s stock.

NeoGenomics Stock Up 2.5 %

NEO stock opened at $18.33 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 6.47 and a current ratio of 6.75. NeoGenomics, Inc. has a one year low of $6.00 and a one year high of $20.54. The company has a fifty day moving average of $16.66 and a 200-day moving average of $13.45. The stock has a market capitalization of $2.34 billion, a PE ratio of -18.12 and a beta of 1.12.

NeoGenomics (NASDAQ:NEO – Get Rating) last announced its earnings results on Thursday, February 23rd. The medical research company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.09. The company had revenue of $138.71 million during the quarter, compared to analysts’ expectations of $129.96 million. NeoGenomics had a negative net margin of 23.72% and a negative return on equity of 7.34%. As a group, analysts expect that NeoGenomics, Inc. will post -0.55 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on NEO shares. Needham & Company LLC reissued a “buy” rating and issued a $21.00 price target on shares of NeoGenomics in a research note on Tuesday, April 18th. Raymond James downgraded shares of NeoGenomics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 16th. Cowen upped their target price on shares of NeoGenomics from $14.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, February 24th. Benchmark upgraded shares of NeoGenomics from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Friday, February 24th. Finally, StockNews.com began coverage on shares of NeoGenomics in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $19.55.

NeoGenomics Company Profile

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NeoGenomics, Inc is a clinical laboratory company, which engages in cancer genetics diagnostic testing and pharma services. It operates through the Clinical Services and Pharma Services segments. The Clinical Services segment offers cancer testing services to community-based pathologists, hospitals, academic centers, and oncology groups.