Sei Investments Co. Boosts Holdings in NeoGenomics, Inc. (NASDAQ:NEO)

Sei Investments Co. raised its stake in NeoGenomics, Inc. (NASDAQ:NEO - Free Report) by 152.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 263,761 shares of the medical research company's stock after purchasing an additional 159,350 shares during the quarter. Sei Investments Co. owned 0.21% of NeoGenomics worth $3,658,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of NEO. Arizona State Retirement System boosted its holdings in NeoGenomics by 2.0% during the second quarter. Arizona State Retirement System now owns 35,739 shares of the medical research company's stock worth $496,000 after purchasing an additional 708 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of NeoGenomics by 2.9% in the second quarter. Crossmark Global Holdings Inc. now owns 29,494 shares of the medical research company's stock valued at $409,000 after acquiring an additional 842 shares in the last quarter. Banque Cantonale Vaudoise increased its position in shares of NeoGenomics by 6.6% during the first quarter. Banque Cantonale Vaudoise now owns 15,942 shares of the medical research company's stock valued at $251,000 after acquiring an additional 993 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in NeoGenomics by 3.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 32,505 shares of the medical research company's stock worth $451,000 after acquiring an additional 1,030 shares during the period. Finally, Louisiana State Employees Retirement System boosted its position in NeoGenomics by 1.9% in the second quarter. Louisiana State Employees Retirement System now owns 64,300 shares of the medical research company's stock worth $892,000 after purchasing an additional 1,200 shares during the last quarter. Institutional investors own 98.50% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on NEO shares. Benchmark reaffirmed a "buy" rating and set a $18.00 target price on shares of NeoGenomics in a research report on Tuesday, September 24th. Needham & Company LLC restated a "buy" rating and set a $19.00 price objective on shares of NeoGenomics in a report on Wednesday, September 25th. Finally, Stephens reiterated an "overweight" rating and issued a $19.00 target price on shares of NeoGenomics in a research note on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $19.89.

NeoGenomics Stock Performance

Shares of NEO stock traded down $0.22 during trading on Thursday, reaching $14.12. 534,719 shares of the company's stock traded hands, compared to its average volume of 817,470. The firm's 50-day moving average is $16.02 and its 200 day moving average is $14.91. The company has a market capitalization of $1.80 billion, a P/E ratio of -21.47 and a beta of 1.19. NeoGenomics, Inc. has a 1 year low of $11.03 and a 1 year high of $21.22. The company has a current ratio of 2.01, a quick ratio of 1.93 and a debt-to-equity ratio of 0.37.

NeoGenomics (NASDAQ:NEO - Get Free Report) last posted its quarterly earnings results on Monday, July 29th. The medical research company reported $0.03 EPS for the quarter. NeoGenomics had a negative return on equity of 2.72% and a negative net margin of 12.50%. The firm had revenue of $164.50 million during the quarter, compared to analyst estimates of $161.82 million. During the same period last year, the company earned ($0.09) earnings per share. The business's revenue for the quarter was up 12.0% on a year-over-year basis. Equities research analysts expect that NeoGenomics, Inc. will post -0.22 EPS for the current year.

About NeoGenomics

NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States and the United Kingdom. It operates through Clinical Services and Advanced Diagnostics segments. The company offers testing services to hospitals, academic centers, pathologists, oncologists, clinicians, pharmaceutical companies, and clinical laboratories.