Edgestream Partners L.P. Buys New Position in NeoGenomics, Inc. (NASDAQ:NEO)

Edgestream Partners L.P. bought a new stake in shares of NeoGenomics, Inc. (NASDAQ:NEO) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 120,456 shares of the medical research company’s stock, valued at approximately $1,894,000. Edgestream Partners L.P. owned approximately 0.09% of NeoGenomics as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Burkett Financial Services LLC purchased a new stake in shares of NeoGenomics during the fourth quarter valued at $46,000. Quadrant Capital Group LLC lifted its holdings in shares of NeoGenomics by 22.0% during the fourth quarter. Quadrant Capital Group LLC now owns 4,900 shares of the medical research company’s stock valued at $79,000 after purchasing an additional 883 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of NeoGenomics by 27.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,434 shares of the medical research company’s stock valued at $136,000 after purchasing an additional 1,791 shares during the last quarter. Banque Cantonale Vaudoise lifted its holdings 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 purchasing an additional 993 shares during the last quarter. Finally, White Pine Capital LLC purchased a new stake in shares of NeoGenomics during the fourth quarter valued at $261,000. Institutional investors own 98.50% of the company’s stock.

NeoGenomics Stock Up 2.0 %

Shares of NEO traded up $0.29 during midday trading on Monday, reaching $14.80. 839,931 shares of the stock were exchanged, compared to its average volume of 834,275. NeoGenomics, Inc. has a 12-month low of $11.03 and a 12-month high of $21.22. The firm has a 50 day simple moving average of $13.95 and a 200-day simple moving average of $14.72. The company has a quick ratio of 7.22, a current ratio of 7.48 and a debt-to-equity ratio of 0.58. The company has a market cap of $1.89 billion, a price-to-earnings ratio of -22.47 and a beta of 1.19.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings data on Tuesday, April 30th. The medical research company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The company had revenue of $156.24 million for the quarter, compared to analyst estimates of $149.82 million. NeoGenomics had a negative net margin of 13.79% and a negative return on equity of 3.54%. Research analysts forecast that NeoGenomics, Inc. will post -0.21 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on NEO shares. Craig Hallum started coverage on NeoGenomics in a research note on Wednesday, May 1st. They issued a “buy” rating and a $26.00 price objective for the company. Benchmark reissued a “buy” rating and issued a $18.00 price objective on shares of NeoGenomics in a research note on Wednesday, May 1st. Needham & Company LLC reduced their price objective on NeoGenomics from $24.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. TD Cowen reduced their price objective on NeoGenomics from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Finally, BTIG Research reduced their price objective on NeoGenomics from $23.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, NeoGenomics has a consensus rating of “Moderate Buy” and an average target price of $19.78.

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.