NeoGenomics, Inc. (NEO) Position Lessened by California Public Employees Retirement System

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California Public Employees Retirement System reduced its position in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 9.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 83,969 shares of the medical research company’s stock after selling 8,408 shares during the period. California Public Employees Retirement System owned 0.10% of NeoGenomics worth $1,101,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NEO. Granahan Investment Management Inc. MA grew its holdings in NeoGenomics by 8.7% during the 2nd quarter. Granahan Investment Management Inc. MA now owns 1,213,014 shares of the medical research company’s stock worth $15,903,000 after acquiring an additional 97,040 shares during the last quarter. Kopp Investment Advisors LLC grew its holdings in NeoGenomics by 9.9% during the 2nd quarter. Kopp Investment Advisors LLC now owns 436,972 shares of the medical research company’s stock worth $5,729,000 after acquiring an additional 39,495 shares during the last quarter. First Light Asset Management LLC grew its holdings in NeoGenomics by 8.4% during the 2nd quarter. First Light Asset Management LLC now owns 5,162,063 shares of the medical research company’s stock worth $67,675,000 after acquiring an additional 401,731 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in NeoGenomics during the 2nd quarter worth about $171,000. Finally, AMP Capital Investors Ltd bought a new stake in NeoGenomics during the 2nd quarter worth about $178,000. 80.83% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of NeoGenomics from a “hold” rating to a “strong-buy” rating and set a $21.00 target price on the stock in a research note on Saturday. Benchmark set a $22.00 target price on shares of NeoGenomics and gave the company a “buy” rating in a research note on Thursday, November 1st. Raymond James raised their target price on shares of NeoGenomics from $16.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, October 31st. Craig Hallum raised their target price on shares of NeoGenomics from $17.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, October 31st. Finally, BidaskClub raised shares of NeoGenomics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 27th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and three have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $20.00.

Shares of NASDAQ NEO opened at $17.91 on Wednesday. The stock has a market capitalization of $1.47 billion, a PE ratio of 298.50 and a beta of -0.01. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.59 and a current ratio of 1.74. NeoGenomics, Inc. has a 1 year low of $7.08 and a 1 year high of $19.04.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings data on Tuesday, October 30th. The medical research company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. NeoGenomics had a net margin of 1.70% and a return on equity of 3.15%. The business had revenue of $69.10 million for the quarter, compared to analyst estimates of $66.13 million. During the same quarter last year, the firm earned $0.01 EPS. NeoGenomics’s quarterly revenue was up 16.8% compared to the same quarter last year. Analysts expect that NeoGenomics, Inc. will post 0.11 EPS for the current year.

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NeoGenomics Profile

NeoGenomics, Inc, together with its subsidiaries, operates a network of cancer-focused genetic testing laboratories in the United States. It operates through Clinical Services and Pharma Services segments. The company laboratories provide genetic and molecular testing services to hospitals, pathologists, oncologists, urologists, other clinicians and researchers, pharmaceutical firms, and other clinical laboratories.

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Institutional Ownership by Quarter for NeoGenomics (NASDAQ:NEO)

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