Dimensional Fund Advisors LP Acquires 225,588 Shares of NeoGenomics, Inc. $NEO

Dimensional Fund Advisors LP raised its holdings in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 9.2% in the 1st quarter, HoldingsChannel reports. The firm owned 2,674,335 shares of the medical research company’s stock after buying an additional 225,588 shares during the period. Dimensional Fund Advisors LP’s holdings in NeoGenomics were worth $19,842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NEO. Granite Investment Partners LLC bought a new position in shares of NeoGenomics in the first quarter valued at about $5,583,000. Louisiana State Employees Retirement System acquired a new stake in shares of NeoGenomics during the 1st quarter worth about $426,000. Y Intercept Hong Kong Ltd boosted its holdings 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. Illinois Municipal Retirement Fund bought a new stake in shares of NeoGenomics during the 1st quarter worth about $562,000. Finally, GW&K Investment Management LLC grew its stake in NeoGenomics by 7.5% in the 4th quarter. GW&K Investment Management LLC now owns 2,238,767 shares of the medical research company’s stock valued at $26,328,000 after buying an additional 155,882 shares during the last quarter. 98.50% of the stock is owned by institutional investors.

NeoGenomics Price Performance

NASDAQ:NEO opened at $15.56 on Friday. NeoGenomics, Inc. has a 52 week low of $5.62 and a 52 week high of $16.45. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of -38.90 and a beta of 1.74. The firm’s 50-day simple moving average is $13.28 and its 200 day simple moving average is $10.79. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.35 and a current ratio of 3.60.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings data on Tuesday, July 28th. The medical research company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.02. The business had revenue of $201.66 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.03 EPS. As a group, sell-side analysts predict that NeoGenomics, Inc. will post -0.09 earnings per share for the current year.

Insider Activity at NeoGenomics

In other news, Director Lynn A. Tetrault sold 5,307 shares of NeoGenomics stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $11.29, for a total value of $59,916.03. Following the completion of the sale, the director directly owned 91,422 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

NEO has been the topic of several research analyst reports. Weiss Ratings raised shares of NeoGenomics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. Needham & Company LLC boosted their price objective on NeoGenomics from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Wall Street Zen raised NeoGenomics from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. Zacks Research upgraded NeoGenomics from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. Finally, TD Cowen reissued a “buy” rating on shares of NeoGenomics in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, NeoGenomics has an average rating of “Moderate Buy” and a consensus 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.